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Option traders moderately bearish in NVIDIA with shares down 0.71%

Option traders moderately bearish in NVIDIA (NVDA), with shares down 94c near $131.89.Options volume roughly in line with average with 2.43m contracts traded and calls leading puts for a put/call ratio of 0.55, compared to a typical level near 0.67. Implied volatility (IV30) is higher by 0.5 points near 50.44,and below the 52wk median, suggesting an expected daily move of $4.19. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: NVIDIA (NVDA) will report earnings after the close on 2025-05-28.Option markets are pricing in a 50% probability of a move greater than 5.79% or $7.63.

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