NVIDIA Options Traders Betting On Stock Moving Lower Post Earnings

NVIDIA Corporation NVDA is scheduled to release quarterly earnings after the closing bell on Feb. 22.

Analysts expect the company to post quarterly earnings at $0.81 per share on revenue of about $6 billion.

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said NVIDIA is implying an move of +/-7% by the end of the week.

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There were buyers of 19,656 of the February 24 weekly 200-puts at an average price of $4 per contract, Khouw mentioned.

The traders expect NVIDIA’s stock to move lower following the release of earnings.

Price Action: NVIDIA shares dropped 3.4% to close at $206.55 on Tuesday.

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