NVDA

NVIDIA CORP (NVDA) reports earnings Wednesday after the close. Consensus EPS estimate is $1.70.

The expected move of ±10.4% translates to roughly ±$22.32 from the current price of $215.22. This defines the range the market is pricing in for the post-earnings reaction.

IV Rank sits at 58, indicating fairly-priced options. Neither premium sellers nor buyers have a clear structural edge here — let your directional thesis guide the trade.

An iron butterfly at the money could be effective here. The defined-risk structure works well when you expect the stock to stay near current levels after the report.

Enter the position 1-2 days before earnings to capture the final IV ramp. Plan to close the morning after the report once IV collapses — don't hold hoping for further decay.

Tech earnings often see outsized moves driven by guidance and forward metrics like bookings, cloud growth, or AI-related spending.