Nvidia's stock plunged Thursday and is now in the red for the year.

Some options traders may be attempting to play for a rebound. Some of the most active options contracts tied to Nvidia stock on Thursday were calls that would pay out if the shares jumped to $195, $200, or $210, according to the data provider QuikOptions.

Of course, these trades can be used to hedge or make directional bets. Still, it may take more than one big day of losses to scare traders away from the Nvidia trade.