Nvidia Corp (NASDAQ:NVDA) stock is up 2.9% to trade at $188.58 today, getting a halo lift from Taiwan Semiconductor (TSM)'s post-earnings pop. Tailwinds are also leftover from yesterday, after the Trump administration rolled out a 25% tariff on some semiconductors, though chips that contribute to the U.S. technology supply chain were spared. The double-dose of headlines has been music to options traders' ears.
For over a year now, Nvidia has appeared on Senior Quantitative Analyst Rocky White's list of equities that attracted the highest options volume in the past two weeks. In the last 10 days, more than 19.8 million calls and over 10 million puts changing hands. The weekly 1/9 190-strike call is the top trade during this timeframe, while there's also notable activity at the January 2026 190-strike call.
NVDA is now up 38.6% in the last 12 months, and is still the most valuable company in the world by market cap, despite currently testing a downtrend from a Oct. 29 record high of $212.19. Earlier this morning, RBC initiated coverage on Nvidia with an "outperform" rating and $240 price target.
Now looks like a great time to weigh in with options. The stock's Schaeffer's Volatility Index (SVI) of 36% that sits in the 3rd percentile of annual readings, indicating options traders are pricing in low volatility expectations.
