NEBIUS closed at USD 236.12 with a 1.43% gain.

Options flow showed a clear bullish lean, dominated by a large out-of-the-money put sale at the 210.00 strike expiring September 2026. The trade, valued at approximately $62 thousand across 1,038 contracts, reflects an income-oriented bet that NEBIUS remains above that level. With implied volatility near its own historical low and call volume outpacing puts, overall positioning suggests traders see limited downside risk and are underwriting stability rather than preparing for a sharp correction.

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Options Indicators

NEBIUS currently shows implied volatility of 87.81%, while its IV percentile is just 9.96%, indicating that although the absolute IV level is high, it sits near the low end of its own historical range. In other words, volatility is on the low side relative to where NEBIUS options have typically traded, so current option premiums look cheaply priced rather than stretched, with the IV/HV ratio of 1.39 suggesting implied volatility still carries a moderate premium over realized volatility. The Call/Put volume ratio is 1.69.

Large Trades

A put sale worth $62 thousand was the standout large trade, with 1,038 contracts sold at the 210.00 strike expiring on 2026-09-25. With the stock reference price at 236.12, this put was out of the money at the time of execution, making it a moderately bullish income-style position. The seller is effectively expressing confidence that NBIS can stay above 210.00 into expiration, allowing the premium to decay, while also signaling willingness to take on downside assignment risk at a lower effective entry level if the stock weakens.

Overall, the large-trade flow leans bullish. The only notable block was an out-of-the-money put sale, which typically reflects constructive sentiment rather than outright downside protection demand. That pattern suggests traders are comfortable underwriting downside risk below the current share price and are positioning for stability to upside rather than a meaningful bearish move.

Strategy Reference

For a lower assignment probability than the 210.00 strike, a seller could consider the 190.00 or 200.00 puts expiring on the same 2026-09-25 date; alternatively, a put credit spread such as selling the 210.00 put and buying the 180.00 put would cap margin requirements while retaining a bullish income profile.