NVIDIA Set To Report Earnings Wednesday, Options Market Implies Double-Digit Move

NVIDIA Corporation NVDA is set to report its quarterly earnings after the closing bell on Wednesday.

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said NVIDIA was one of the busiest single stock options and implied a move of around +/-11% by the end of the week.

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Traders bought 3,418 of the September 470-calls at an average price of $29 per contract and sold 3,418 of the September 520-calls at an average price of $13.60 per contract, Khouw mentioned.

Traders see NVIDIA’s stock could surge as much as $14 by September expiration.

Analysts expect NVIDIA to report quarterly earnings at $2.09 per share on revenue of $11.22 billion after the closing bell.

Price Action: NVIDIA shares fell 2.8% to close at $456.68 on Tuesday, but added 0.5% in Wednesday's premarket trading session at the time of publication.

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