Surge in SPY $530 and NVDA Options Trading as Market Focuses on Exit Liquidity, SPY Closes at $518

Recent trading activity has seen significant interest in SPY and NVDA options, with over 262,000 SPY 0DTE $530 contracts purchased, despite SPY closing at $518. Additionally, more than 185,000 NVDA C110 weekly contracts were bought. The market has experienced a focus on creating exit liquidity, with traders buying NVDA weekly calls, which have surpassed the highest volume SPY contracts. NVDA's August $111 calls saw 81,000 contracts sold to open at $1.69, indicating a potential ceiling at that level into the next week. Traders have been adjusting their positions, particularly in NVDA, to capitalize on premium collection, including $115 short calls and $105 Weeklies.