To The Moon

$NVIDIA(NVDA)$

Looking at some extreme opening call spreads, it’s possible the week of Oct 3 will see even larger swings than last week.

Specifically, institutions are selling calls $NVDA 20251003 182.5 CALL$  and $NVDA 20251003 180 CALL$ , hedged by buying calls $NVDA 20251003 190 CALL$  and $NVDA 20251003 187.5 CALL$ . Resistance looks similar to last week—below 185.

Bearish openings are quite pessimistic. While I still think it’s hard to break below 170 $NVDA 20251003 170.0 PUT$ , there are many new positions being opened below 160, which are dominating flows.

Same view as last week: trade the range. Near 170, sell puts $NVDA 20251003 170.0 PUT$ ; above 180, consider selling calls $NVDA 20251003 187.5 CALL$ .

$Tesla Motors(TSLA)$

Given institutions are again aggressively opening bullish call positions, there’s some squeeze risk in Tesla.

Sell-call strikes: $TSLA 20251003 437.5 CALL$  $TSLA 20251003 442.5 CALL$  $TSLA 20251003 445 CALL$  $TSLA 20251003 452.5 CALL$ . Hedging buy-call strikes: $TSLA 20251003 462.5 CALL$  $TSLA 20251003 470.0 CALL$  $TSLA 20251003 477.5 CALL$ .

Bear put spread: $TSLA 20251003 432.5 PUT$  $TSLA 20251003 417.5 PUT$ .

Therefore, the suitable short strangle zone this week is $TSLA 20251003 470.0 CALL$  and $TSLA 20251003 417.5 PUT$ .

$SPDR S&P 500 ETF Trust(SPY)$

SPY positioning is subtle as well. Expected range this week: 650–670, wider than last week’s 655–665.

$Intel(INTC)$

Intel is tough to analyze—new cooperation headlines can pop up anytime.

Based on general market action, the 40 calls have heavy opening flow and form near-term resistance. Views on put-side pullback levels are split: conservative camp prefers 25 for safety; aggressive camp thinks 34 is reasonable.

Sharing two speculative setups: sell put 25 + buy call 45 $INTC 20251121 25.0 PUT$  $INTC 20251121 45.0 CALL$ ; and buy call 38, sell call 45 $INTC 20251107 38.0 CALL$  $INTC 20251107 45.0 CALL$ .

$Advanced Micro Devices(AMD)$

After a long sideways stretch with no breakout signs, institutions this week sold the 162.5 calls $AMD 20251003 162.5 CALL$  and bought the 170 calls $AMD 20251003 170.0 CALL$ .

Reference sell-put strike: 150 $AMD 20251003 150.0 PUT$ .

$Alibaba(BABA)$

Alibaba continues to push higher. Institutions sold the 177.5 calls $BABA 20251003 177.5 CALL$  and hedged with bought 187.5 calls $BABA 20251003 187.5 CALL$ . Short-term sell-put reference strike: $BABA 20251003 165.0 PUT$ .

$CoreWeave, Inc.(CRWV)$

Hot take: CRWV could reach 160 by year-end.

Medium-term long calls have moved into CRWV, and the first roll has begun.

An institution closed 30,000 Oct-expiry 115 calls $CRWV 20251017 115.0 CALL$  and rolled 30,000 to Dec 160 calls $CRWV 20251219 160.0 CALL$ .

Block prints show the 115 calls as buys and the 160s as sells. As I’ve said before, broker-reported order direction can be inaccurate.

Why I’m fairly confident: when they gradually opened the 115 calls in early September, the flow was buy-to-open. Single-leg opening direction is more reliable than multi-leg. It wouldn’t make sense to say both opening and closing were “buys,” right? Still, this is my reasoned inference from experience and tape—believe it or not, your call.

There were also long-dated long-call openings: a large buy of 1,844 contracts of the 150 calls $CRWV 20270115 150.0 CALL$  ($7M notional) and 1,990 contracts of the 200 calls $CRWV 20270115 200.0 CALL$  ($5M notional).

For a growth name like CRWV, pure sell-puts aren’t ideal—you’ll sacrifice alpha. Consider outright long stock or a sell-put + buy-call hedged long strategy.