diff --git a/Lib/argparse.py b/Lib/argparse.py
index d91707d9eec546..d83b167036a0d5 100644
--- a/Lib/argparse.py
+++ b/Lib/argparse.py
@@ -2199,6 +2199,17 @@ def take_action(action, argument_strings, option_string=None):
             if argument_values is not SUPPRESS:
                 action(self, namespace, argument_values, option_string)
 
+        # returns the minimum number of arg strings an action requires;
+        # used by consume_optional() when computing positional reservations
+        def min_for_action(action):
+            nargs = action.nargs
+            if nargs is None or nargs in (ONE_OR_MORE, PARSER):
+                return 1
+            elif isinstance(nargs, int):
+                return nargs
+            # OPTIONAL, ZERO_OR_MORE, REMAINDER contribute 0
+            return 0
+
         # function to convert arg_strings into an optional action
         def consume_optional(start_index):
 
@@ -2282,6 +2293,88 @@ def consume_optional(start_index):
                 else:
                     start = start_index + 1
                     selected_patterns = arg_strings_pattern[start:]
+
+                    # Reserve the minimum number of args required by the
+                    # remaining positionals; replace excess 'A' tokens with 'O'
+                    # so that match_argument cannot consume them.
+                    #
+                    # Note that the current option can only consume 'A' tokens
+                    # up to the next 'O' (another option flag) in the pattern
+                    # as the regex itself stops there. Only count tokens in
+                    # that segment -- 'A' tokens in later segments belong to
+                    # other options' territories and are handled when those
+                    # options are processed.
+                    first_o = selected_patterns.find('O')
+                    if first_o == -1:
+                        segment, rest = selected_patterns, ''
+                    else:
+                        segment = selected_patterns[:first_o]
+                        rest = selected_patterns[first_o:]
+                    segment_arg_count = segment.count('A')
+
+                    # Compute the minimum number of arg strings still required
+                    # by the remaining positionals to avoid greedy consumption
+                    min_pos = sum(min_for_action(pos) for pos in positionals)
+                    if intermixed:
+                        # In intermixed mode consume_positionals is never
+                        # called during the main loop, so `positionals` never
+                        # shrinks. Positional-typed tokens already collected in
+                        # extras will satisfy the positional requirement in the
+                        # second pass, so don't count them as still-unsatisfied
+                        extras_arg_count = sum(
+                            1 for c in extras_pattern if c == 'A'
+                        )
+                        min_pos = max(0, min_pos - extras_arg_count)
+
+                    if min_pos > 0 and segment_arg_count > 0:
+                        # Compute the maximum positional args that future
+                        # option segments can absorb, accounting for each
+                        # future option's own minimum nargs requirement.
+                        pattern_end = len(arg_strings_pattern)
+                        later_option_string_indices = sorted(
+                            i for i in option_string_indices
+                            if i > start_index
+                        )
+                        later_arg_capacity = 0
+                        for k, later_option_string_index in enumerate(
+                            later_option_string_indices
+                        ):
+                            seg_start = later_option_string_index + 1
+                            seg_stop = (
+                                later_option_string_indices[k + 1]
+                                if k + 1 < len(later_option_string_indices)
+                                else pattern_end
+                            )
+                            seg_arg_count = arg_strings_pattern[seg_start:seg_stop].count('A')
+                            later_option_tuples = option_string_indices[later_option_string_index]
+                            later_action = later_option_tuples[0][0]
+                            later_explicit_arg = later_option_tuples[0][3]
+                            if later_explicit_arg is not None or later_action is None:
+                                # explicit arg (--opt=val) or unknown action:
+                                # consumes no pattern 'A' tokens
+                                later_min_arg_count = 0
+                            else:
+                                later_min_arg_count = min_for_action(later_action)
+                            later_arg_capacity += max(
+                                0, seg_arg_count - later_min_arg_count
+                            )
+
+                        reserved_arg_count = max(0, min_pos - later_arg_capacity)
+                        max_arg_count = max(
+                            min_for_action(action),
+                            segment_arg_count - reserved_arg_count,
+                        )
+                        if max_arg_count < segment_arg_count:
+                            count = 0
+                            limited = []
+                            for c in segment:
+                                if c == 'A':
+                                    count += 1
+                                    if count > max_arg_count:
+                                        c = 'O'
+                                limited.append(c)
+                            selected_patterns = ''.join(limited) + rest
+
                     arg_count = match_argument(action, selected_patterns)
                     stop = start + arg_count
                     args = arg_strings[start:stop]
diff --git a/Lib/test/test_argparse.py b/Lib/test/test_argparse.py
index e0c32976fd6f0d..e94118117c548f 100644
--- a/Lib/test/test_argparse.py
+++ b/Lib/test/test_argparse.py
@@ -664,6 +664,17 @@ class TestOptionalsNargs3(ParserTestCase):
         ('-x a b c', NS(x=['a', 'b', 'c'])),
     ]
 
+    def test_does_not_steal_required_positional(self):
+        # https://github.com/python/cpython/issues/53584
+        # Fixed integer nargs is never greedy: --foo takes exactly N args and
+        # leaves the remainder for positionals.
+        parser = ErrorRaisingArgumentParser()
+        parser.add_argument('--foo', nargs=2)
+        parser.add_argument('bar')
+        args = parser.parse_args(['--foo', 'a', 'b', 'c'])
+        self.assertEqual(args.foo, ['a', 'b'])
+        self.assertEqual(args.bar, 'c')
+
 
 class TestOptionalsNargsOptional(ParserTestCase):
     """Tests specifying an Optional arg for an Optional"""
@@ -687,6 +698,48 @@ class TestOptionalsNargsOptional(ParserTestCase):
         ('-z 2', NS(w=None, x=None, y='spam', z=2)),
     ]
 
+    def test_does_not_steal_required_positional(self):
+        # https://github.com/python/cpython/issues/53584
+        parser = ErrorRaisingArgumentParser()
+        parser.add_argument('--foo', nargs='?')
+        parser.add_argument('bar')
+        args = parser.parse_args(['--foo', 'abc'])
+        self.assertIsNone(args.foo)
+        self.assertEqual(args.bar, 'abc')
+
+    def test_does_not_steal_two_required_positionals(self):
+        # https://github.com/python/cpython/issues/53584
+        parser = ErrorRaisingArgumentParser()
+        parser.add_argument('--foo', nargs='?')
+        parser.add_argument('bar')
+        parser.add_argument('bax')
+        args = parser.parse_args(['--foo', 'a', 'b'])
+        self.assertIsNone(args.foo)
+        self.assertEqual(args.bar, 'a')
+        self.assertEqual(args.bax, 'b')
+
+    def test_does_not_steal_two_required_positional_interspersed(self):
+        # https://github.com/python/cpython/issues/53584
+        parser = ErrorRaisingArgumentParser()
+        parser.add_argument('--foo', nargs='?')
+        parser.add_argument('--bar', nargs='?')
+        parser.add_argument('baz')
+        parser.add_argument('bax')
+        args = parser.parse_args(['--foo', 'a', '--bar', 'b'])
+        self.assertEqual(args.baz, 'a')
+        self.assertEqual(args.bax, 'b')
+
+    def test_greedy_when_positional_also_optional(self):
+        # https://github.com/python/cpython/issues/53584
+        # When the following positional is also optional, --foo taking the arg
+        # is acceptable (both are optional, no unambiguous correct answer).
+        parser = ErrorRaisingArgumentParser()
+        parser.add_argument('--foo', nargs='?')
+        parser.add_argument('bar', nargs='?')
+        args = parser.parse_args(['--foo', 'abc'])
+        self.assertEqual(args.foo, 'abc')
+        self.assertIsNone(args.bar)
+
 
 class TestOptionalsNargsZeroOrMore(ParserTestCase):
     """Tests specifying args for an Optional that accepts zero or more"""
@@ -706,6 +759,15 @@ class TestOptionalsNargsZeroOrMore(ParserTestCase):
         ('-y a b', NS(x=None, y=['a', 'b'])),
     ]
 
+    def test_does_not_steal_required_positional(self):
+        # https://github.com/python/cpython/issues/53584
+        parser = ErrorRaisingArgumentParser()
+        parser.add_argument('--foo', nargs='*')
+        parser.add_argument('bar')
+        args = parser.parse_args(['--foo', 'abc'])
+        self.assertEqual(args.foo, [])
+        self.assertEqual(args.bar, 'abc')
+
 
 class TestOptionalsNargsOneOrMore(ParserTestCase):
     """Tests specifying args for an Optional that accepts one or more"""
@@ -723,6 +785,27 @@ class TestOptionalsNargsOneOrMore(ParserTestCase):
         ('-y a b', NS(x=None, y=['a', 'b'])),
     ]
 
+    def test_does_not_steal_required_positional(self):
+        # https://github.com/python/cpython/issues/53584
+        parser = ErrorRaisingArgumentParser()
+        parser.add_argument('--foo', nargs='+')
+        parser.add_argument('bar')
+        args = parser.parse_args(['--foo', 'a', 'b'])
+        self.assertEqual(args.foo, ['a'])
+        self.assertEqual(args.bar, 'b')
+
+    def test_does_not_steal_interspersed_required_positional(self):
+        # https://github.com/python/cpython/issues/53584
+        parser = ErrorRaisingArgumentParser()
+        parser.add_argument('--foo', nargs='+')
+        parser.add_argument('--bar', nargs='+')
+        parser.add_argument('baz')
+        parser.add_argument('bax')
+        args = parser.parse_args(['--foo', 'a', 'c', '--bar', 'b', 'd'])
+        self.assertEqual(args.foo, ['a'])
+        self.assertEqual(args.bar, ['b'])
+        self.assertEqual(args.baz, 'c')
+        self.assertEqual(args.bax, 'd')
 
 class TestOptionalsChoices(ParserTestCase):
     """Tests specifying the choices for an Optional"""
@@ -6760,6 +6843,24 @@ def test_invalid_args(self):
         parser = ErrorRaisingArgumentParser(prog='PROG')
         self.assertRaises(ArgumentParserError, parser.parse_intermixed_args, ['a'])
 
+    def test_variable_nargs_option_before_positional(self):
+        # https://github.com/python/cpython/issues/53584
+        parser = ErrorRaisingArgumentParser()
+        parser.add_argument('--foo', nargs='?')
+        parser.add_argument('bar')
+        args = parser.parse_intermixed_args(['--foo', 'abc'])
+        self.assertIsNone(args.foo)
+        self.assertEqual(args.bar, 'abc')
+
+    def test_variable_nargs_option_after_positional(self):
+        # https://github.com/python/cpython/issues/53584
+        parser = ErrorRaisingArgumentParser()
+        parser.add_argument('--foo', nargs='?')
+        parser.add_argument('bar')
+        args = parser.parse_intermixed_args(['abc', '--foo', 'xyz'])
+        self.assertEqual(args.foo, 'xyz')
+        self.assertEqual(args.bar, 'abc')
+
 
 class TestIntermixedMessageContentError(TestCase):
     # case where Intermixed gives different error message
diff --git a/Misc/NEWS.d/next/Library/2026-03-27-12-54-44.gh-issue-53584.4mA7Wp.rst b/Misc/NEWS.d/next/Library/2026-03-27-12-54-44.gh-issue-53584.4mA7Wp.rst
new file mode 100644
index 00000000000000..b322b6abbd7428
--- /dev/null
+++ b/Misc/NEWS.d/next/Library/2026-03-27-12-54-44.gh-issue-53584.4mA7Wp.rst
@@ -0,0 +1,3 @@
+Fix :mod:`argparse` options with variable :ref:`nargs <nargs>` (``'?'``,
+``'*'``, ``'+'``) greedily consuming argument strings that should be
+reserved for required positional arguments.