NVDL Call Buyers Swamp Bears as Borrow Market Hits Full Capacity

Options traders are piling into calls on [NVDL](/s/us/nvdl), GraniteShares' 2x leveraged Nvidia ETF, even as the borrow market runs at absolute maximum tightness. Three signals are now pointing in opposite directions — and the tension between them is worth watching.

## Options Market Turns Sharply Bullish

The put-call ratio on NVDL dropped to 0.49 on May 13. That is 2.2 standard deviations…