Noteworthy Tuesday Option Activity: AAPL, NVDA, RMD

NVIDIA options saw 1.4 million contracts trade today—about 143.0 million underlying shares, or 75.8% of NVDA’s one‑month average daily volume—with outsized activity in the $200 call expiring Nov. 21, 2025 (63,445 contracts, ~6.3 million shares). ResMed options volume totaled 9,582 contracts (~958,200 underlying shares), roughly 72.8% of its monthly average, led by 3,100 contracts in the $250 put expiring Nov. 21, 2025 (~310,000 shares). The flows point to concentrated positioning in specific strikes and the same November 2025 expiry—suggesting significant directional or hedging interest in both names.

Analysis

NVIDIA options traded 1.4 million contracts today, representing roughly 143.0 million underlying shares or 75.8% of NVDA’s one‑month average daily volume of 188.7 million shares, with concentrated activity in the $200 call expiring November 21, 2025 (63,445 contracts, ~6.3 million shares). The per‑ticker signal scores NVDA positive (0.4), and the flow is consistent with sizeable directional bullish bets or large hedging activity into the same long‑dated November 2025 expiration. ResMed saw 9,582 option contracts (~958,200 shares), about 72.8% of its one‑month average daily volume of 1.3 million shares, led by the $250 put expiring November 21, 2025 (3,100 contracts, ~310,000 shares), and the per‑ticker signal scores RMD negative (−0.4), indicating concentrated downside positioning or insurance buying. Both names show concentration in the November 21, 2025 expiry which suggests coordinated time‑horizon positioning rather than scattered short‑dated gamma trades, and the market impact score of 0.35 implies modest systemic effect but material idiosyncratic liquidity and IV implications for each underlying. A critical caveat is that volume data alone does not reveal buyer versus seller aggressiveness or whether trades are parts of spreads; monitor changes in implied volatility, open interest, and trade prints to infer intent and to size positions appropriately.

Key Decisions for Investors

• Monitor Nov. 21, 2025 open interest and implied volatility for NVDA and consider tactical call‑spread exposure if price confirms bullish momentum rather than buying outright equity,
• Treat the concentrated RMD $250 Nov. 21, 2025 put flow as a bearish/insurance signal; consider trimming long RMD exposure or buying protection (puts or collars) if you hold meaningful equity risk,
• Delay initiating large unhedged positions until trade prints clarify buy/sell aggressiveness and watch underlying volume and IV changes closely given these flows represent ~73–76% of each stock's average daily volume