Huge, Unusual Nvidia Call Options Volume - NVDA Trading Range Attracts Options Players

Nvidia stock is drawing unusually heavy options activity as traders focus on its recent range-bound trading. The article highlights over 5,800 call contracts traded at the $235 strike expiring Aug. 3, 2026, more than 43 times the prior open interest at that strike. While the short-dated call premium implies only a modest 0.20% covered-call yield, the flow suggests traders are positioning for a move higher or continuing to monetize volatility. The piece also argues that Nvidia remains fundamentally supported: analysts have recently lifted 2027 revenue forecasts, and the author estimates fair value around $315 per share, roughly 47% above the current price near $214. The article frames the call buying as consistent with optimism around Nvidia ahead of its Q2 earnings release, even though the stock has been stuck in a 3-month trading range.