NVDA Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-17. Spot $225.12.

Put/Call (OI)

0.83

6.5M P / 7.9M C

Put/Call (Volume)

0.55

1.0M P / 1.8M C today

30d ATM IV

38%

annualized implied move

Call wall

$250

461k contracts

Put wall

$180

382k contracts

Tail hedging

1.9×

deep-OTM puts vs calls

What the positioning says

●Call wall at $250 (461k contracts), 11% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $180 (382k contracts), 20% below spot — the hedge floor; often acts as support.

Open interest by strike

All expiries combined. Amber lines mark the call and put walls; the dashed line is spot.

IV term structure

At-the-money implied volatility per expiry.

Volatility smile

IV by strike — expiry 2026-09-18. A steep left side = expensive downside protection.

30-day implied volatility history

Daily ATM IV (~30 DTE bucket) collected since March 2026. Rising IV into an event = the market bracing; collapsing IV after = the crush.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-19	59k	49k	0.83	367k
2026-08-21	1.0M	768k	0.74	450k
2026-08-24	49k	18k	0.37	77k
2026-08-28	242k	117k	0.48	206k
2026-08-31	0	0	—	16k
2026-09-04	138k	143k	1.04	38k
2026-09-11	41k	21k	0.51	13k
2026-09-18	957k	820k	0.86	128k
2026-09-25	47k	22k	0.47	7k
2026-10-02	2k	2k	1.23	10k
2026-10-16	515k	414k	0.80	43k
2026-11-20	253k	252k	0.99	32k
2026-12-18	1.1M	1.0M	0.94	24k
2027-01-15	1.2M	911k	0.76	29k
2027-02-19	38k	49k	1.30	9k
2027-03-19	289k	284k	0.98	13k
2027-06-17	431k	452k	1.05	14k
2027-09-17	87k	90k	1.03	6k
2027-12-17	386k	376k	0.98	5k
2028-01-21	533k	292k	0.55	6k
2028-06-16	72k	80k	1.12	2k
2028-12-15	306k	214k	0.70	5k

Source: CBOE delayed quotes, refreshed daily after US market close. Open interest is exchange-reported and lags one session. Research, not investment advice.