Lyft will move double digits on earnings, says the options market

when it reports earnings Wednesday afternoon for only the second time as a publicly traded company.

"The company went public just a few months ago. They had one quarter out of the gate, the stock traded down about 11% after those results, but the options market is implying about a 10% move in either direction [on Wednesday]. That's about $6.50, and that's a pretty hefty implied move for a stock with such little history."

"The average price has basically been $61 or so," said Nathan, "It's trading a little bit below that, so obviously some support here." The stock was trading at $58.95 a share on Wednesday, up 0.5%. "That's why that implied move is so high, because they're so expensive here. I would expect that to come in afterwards," said Nathan.

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