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Nvidia Reports Earnings Soon. This Is Where the Stock Could Go.

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Shares of graphics-chip maker Nvidia have been having a boffo year. The second-quarter earnings report will jar the stock price up or down.

Nvidia is the market’s artificial-intelligence darling, cruising by a $1 trillion valuation after crushing sales and earnings expectations when reporting first-quarter results. Second-quarter numbers are due Wednesday, and where the stock will go next is a question on everyone’s mind.

Call options give the owner the right to buy Nvidia stock at a fixed price—known as the strike price—by a certain date, while put options provide the right to sell. Nvidia call and put options with a strike price of $457.50, close to where the stock is early Wednesday, and that expire on Aug. 25, are trading for about $25 each.

Point is, investors expect volatility. That’s a safe bet. Nvidia stock is up 50% since it reported first-quarter numbers in late May. Shares rose 24% the day following the earnings report in which Nvidia management guided second-quarter sales to about $11 billion while the Street had projected closer to $7 billion.

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