$NVIDIA(NVDA.US) -$39M in Calls Coming Out -

Air Coming Out of the Balloon for now.

+10M in PUTS

This can lead to MUTED Price Action on 8/26.

$195 is a Sweet Entry IMO into January.

What changed since 8/21?

Interestingly, IV actually increased into earnings.

8/21: 7-day IV ≈ 55.95%

8/24: 7-day IV ≈ 57.37%

So the market is charging a little more for the earnings event even though $NVIDIA(NVDA.US) just dropped −2.91% today.

The implied percentage move has moved only slightly, roughly 6.0% → 6.1%, but because NVDA fell from ~$215.80 to $208.48, the implied dollar move is now closer to ±$12.70.

The technical setup makes those levels VERY interesting

$NVIDIA(NVDA.US)

8 EMA: $216.17

21 EMA: $214.58

50 DMA: $207.94

100 DMA: $206.97

200 DMA: $195.34

That creates a pretty clean earnings map:

Bullish ER → ~$221

Reclaims 8/21 EMA

Puts $NVIDIA(NVDA.US) back above the broken short-term trend

Then $225–230 becomes the next major battle

Bearish ER → ~$195.75

Breaks 50 DMA

Breaks 100 DMA

And almost perfectly lands on the 200 DMA at $195.34

That coincidence is the part I would highlight.

$NVIDIA(NVDA.US) EARNINGS ROADMAP

$221–222 = market-priced bullish move

$214–216 = reclaim zone

$207–208 = 50/100 DMA battlefield NOW

$195–196 = market-priced bearish move + 200 DMA

So essentially, the options market is pricing NVDA's downside earnings scenario almost directly into its 200-day moving average.