Here Is What Options Traders Expect for NVDA Stock After Nvidia Reports Q3 Results This Week

Nvidia (NVDA) shares have pulled back rather significantly in the build-up to the company’s third-quarter (Q3) earnings scheduled for Wednesday, Nov. 19.

Consensus is for the artificial intelligence (AI) behemoth to earn $1.18 a share in Q3, which would translate to a little over 51% growth on a year-over-year basis. 

Despite recent weakness, however, Nvidia stock remains up roughly 100% versus its year-to-date low. 

Where Options Data Suggests Nvidia Stock Is Headed

Options traders seem to believe the ongoing selloff in NVDA stock will prove only temporary. 

According to Barchart, the implied move through the end of this week is 6.78%, which means the chipmaker could be trading near $192. 

Longer dated contracts expiring late February also currently suggest upside to roughly $210 or as much as 17% from current levels. 

While the lower bounds on these derivatives also indicate some downside risk, the put-to-call ratio keeping well below 1x confirms the data is skewed to the upside. 

Dan Ives Recommends Buying NVDA Shares Ahead of Q3 Print

Wedbush’s senior analyst Dan Ives expects Nvidia to come in handily above Street estimates in its fiscal Q3, reflecting strong initial traction for Blackwell. 

Speaking with CNBC this week, Ives downplayed concerns of an AI bubble as demand-to-supply for NVDA chips currently sits at a whopping 12 to 1.   

“We’re in the third inning of where this is all playing out, and I think that’s why…