It’s almost showtime for Nvidia (NVDA), with earnings out after the close today.

It could be a wild 48 hours in markets because of this one stock.

Current premiums in options markets imply that traders are bracing for an 8.6% swing in the stock price in either direction, reports the FT this morning.

If Nvidia does react negatively to the results and guidance, it will be hard to shake the bull case on the stock most on the Street say.

“Even if there is weakness from some unforeseen force in the near-term, we see limited stock weakness as investors want to keep or add to positions for second half Blackwell [new AI chip] growth,” Piper Sandler semi analyst Harsh Kumar said in a note this morning.

Game on.

Yahoo Finance tech editor Dan Howley previews Nvidia’s results here.