Large options block suggests institutional neutral-to-bearish positioning

A detected block trade restructured a December call credit spread into a larger November position with lower strikes, implying an institutional-sized bearish-to-neutral view on near-term upside for NVDA.

In this brief: 2 sections 1 min read

- Reported blocks: 35,000 Dec 245 calls bought; 35,000 Dec 300 calls sold; 70,000 Nov 230 calls sold; 70,000 Nov 275 calls bought.
- Execution timing and sizes suggest a single investor closed a December call credit spread and rolled/expanded it into November.
- Net premium collected was reported as $25,480,000.
- The November structure looks for the stock to remain under $230 through Nov 20 (per the article).
- TradeStation notes the position doubles the prior size and reduces the breakeven, concentrating downside risk if NVDA rallies.
- The write-up frames this as evidence of an institutional trader positioning for limited near-term upside.

Read full analysis on tradestation.com

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