How Have Options Traders Been Playing Nvidia Earnings?

It was hard to miss Nvidia Corp (NASDAQ:NVDA) stock's earnings report last week. Though the equity ultimately gapped lower, its results still underscored exponential AI growth.

The shares are extending this pullback going into September, last seen down 2.4% at $169.98 and pacing for a fourth-straight daily loss, after earlier slipping to their lowest level since July 22. The ascending 60-day moving average looks ready to contain the drawback from a near-record Aug. 28 high of $184.47, though, preserving NVDA's 41.8% year-over-year lead.

NVDA often leads Senior Quantitative Analyst Rocky White's list of equities with the highest options volume in the past two weeks, and its post-earnings dip ensured it held that top spot. Over the last 10 sessions, Nvidia stock has attracted 21,864,186 calls and 13,789,867 puts. The August 180 call was the most popular contract in that time frame.