Nvidia (NVDA) Q2 Earnings Could Trigger a $324.5 Billion Swing, Says the Options Market

Nvidia (NVDA) is set to report Q2 earnings on August 26. Options market data implies a potential 6.17% swing, or $13.25 per share, in either direction, equating to a $324.5 billion market value shift. Based on the current stock price of $214.75, this suggests an upper bound of $228.00 and a lower bound of $201.50 following the earnings release.

Chipmaker Nvidia is set to report its second-quarter earnings on August 26 after the market closes and has scheduled its earnings call for 5 p.m. ET. Using the August 28 expiration, the nearest at-the-money (ATM) options imply a $13.25 swing, or 6.17%, in either direction after the report. This equates to $324.5 billion in market value. Currently, the stock trades at $214.75 per share, which makes $215 the closest strike price. At this level, the call costs $6.55, while the put costs $6.70. Therefore:

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$6.55 call + $6.70 put = $13.25 ATM straddle
$13.25 ÷ $214.75 = 6.17% implied move
$214.75 + $13.25 = $228.00 upper bound
$214.75 − $13.25 = $201.50 lower bound