Notable Wednesday Option Activity: JNJ, NVDA, NOW

NVIDIA (NVDA) and ServiceNow (NOW) are experiencing notably high options trading volume today, with NVDA's options activity representing 80.2% of its average daily share volume and NOW's at 62.5%. This elevated interest is particularly concentrated in specific long-dated call options: the NVDA $172.50 strike (July 2025 expiry) saw 131,944 contracts traded, and the NOW $1240 strike (September 2025 expiry) saw 3,456 contracts, indicating significant institutional positioning or hedging strategies targeting these future price levels.

Analysis

NVIDIA (NVDA) and ServiceNow (NOW) are experiencing a significant surge in options market activity, indicating focused institutional positioning. NVDA's options volume has reached 1.5 million contracts, representing 80.2% of its average daily share volume, a remarkably high ratio. This activity is heavily concentrated in the July 18, 2025, $172.50 strike call option, which has traded 131,944 contracts alone. This specific, long-dated call activity suggests a significant, bullish long-term bet on the stock's appreciation. Similarly, ServiceNow's options volume is 62.5% of its average daily share volume, with a notable concentration in the September 19, 2025, $1240 strike call option. The data points to sophisticated, large-scale trading strategies being deployed, likely by institutional investors establishing positions based on a long-term thesis for both technology companies.

Key Decisions for Investors

• Investors should monitor the specific strike prices of NVDA's July 2025 $172.50 calls and NOW's September 2025 $1240 calls, as this concentrated volume suggests these levels are significant price targets for large market participants.