Trading in bearish options tied to Nvidia Corp. spiked on Thursday ahead of a record-setting “triple witching” expiration, as shares in the chip maker swung more than 5% from peak to trough.

Trading in bearish options tied to Nvidia Corp. spiked on Thursday ahead of a record-setting “triple witching” expiration, as shares in the chip maker swung more than 5% from peak to trough.