By Oliver Renick
Publication Date: 2026-05-15 12:56:00
BEIJING, CHINA – MAY 14: Nvidia CEO Jensen Huang (C) gestures as he prepares to depart following a welcome ceremony at the Great Hall of the People on May 14, 2026 in Beijing, China. President Trump is meeting with President Xi Jinping in Beijing to address the Iran conflict, trade imbalances, and the Taiwan situation while establishing new bilateral boards for economic and AI oversight. (Photo by Alex Wong/Getty Images)
Alex Wong | Getty Images News | Getty Images
Earnings for chip giant Nvidia are always a big deal for the stock market but are stacking up to be monumental this time, with headlines resurfacing hopes that a U.S.-China trade deal may open the gates for the company to start selling its chips to Chinese companies.
The biggest stock in the world added another 20% since May 5, including a 4.4% rally Thursday after reports that the U.S. cleared a handful of Chinese firms to buy Nvidia’s H200 processors used for AI applications. Nvidia’s market cap is now just shy of $5.7 trillion, up from $4.7 trillion as of market close last Tuesday.
Nvidia since May 5
The sharp surge in the stock price means many bullish options traders who were buying calls ahead of this quarter’s earnings report are already “in the money,” meaning the stock is trading above their strike price. That’s increased leverage in the options market into options expiry Friday, as well as next week, with $40 billion of options delta trading against just $4 billion of total…
