Nvidia Inc (NVDA) stock has been trading in a range for the past several months. This has attracted short-sellers of NVDA out-of-the-money options. Today, there is huge volume in less-than-2-week expiry NVDA OTM calls.
NVDA stock is at $214.01 in midday trading on Wednesday, July 22. It hit a $192.53 low on June 26, but is off a May 14 peak of $235.74. The Barchart graph below shows NVDA has been in a 3-month trading range.