NVDA Long Call — 2026-07-17

NVDA (NVIDIA CORP) shows bullish unusual options activity: $23258K of buyer-initiated unusual call flow (83% call-dominant) detected across near-term expirations, with a peak vol/OI ratio of 1.6x on the 200 call. IV rank is 25 (low) — cheap enough to buy the naked long call outright for full convexity. Buy the $195 call expiring 2026-07-17 (18 DTE) at mid $6.05 per share ($605 per contract). Breakeven at $201.05; net delta 0.49.

Underlying: NVDA @ ~$193.82 | 2026-07-17 (18 DTE) | Net debit (entry): ~$605 per contract. Use limit orders at the mid or slightly worse.

MAX LOSS: Limited to the premium paid ($605 per contract). This is a defined-risk debit trade. | IV RISK: IV rank is 25 — reasonable for buying options. | TIMING: 18 DTE — unusual flow is a near-term signal; act promptly or the setup may stale. Close or take profit before expiration week to avoid gamma risk. | SECTOR: NVDA is in Technology — avoid concentration with other open Technology positions. | EXECUTION: Use limit orders at mid or slightly worse. Verify the bid-ask before sending; do not chase with market orders. | EVENTS: Check for upcoming earnings, FDA decisions, or macro prints within the trade window that could cause outsized gap risk.