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WATCH: Traders in the US equity options market are betting Nvidia's upcoming earnings report could spur a massive move in the shares of the world's most dominant AI chipmaker. Keith Gangl of Gradient Investments says investors should take it as a buying opportunity https://t.co/temn2xEO7u
Now they are selling off earnings before the report. This should make for an interesting week. #nvidia $nvda
At the current stock level, Nvidia $NVDA options are pricing about an 11% move for earnings. That's about $600 to the downside and $750 (around the highs) to the upside: https://t.co/bdWnIRNVmV
Nvidia's earnings report is highly anticipated, with options traders expecting a significant share price movement. Analysts predict Q4 revenues to triple year-over-year. The stock has dropped over 5% ahead of the earnings, with options pricing in an 11% move. Loop Capital initiated coverage with a $1,200 price target, the highest on the Street.