Nvidia after the sell-off: three ways to use options around earnings

Investors can align their Nvidia options position with their view on the earnings event, the share price, and the risks surrounding Jensen Huang.

• Nvidia fell about 9% on 5 November 2026 and 4% on 9 November to USD 178.67, while the board reviewed allegations involving CEO Jensen Huang.
• The 17 November earnings report is expected to generate an options-implied move of about USD 19, or 11% in either direction, based on the 20 November USD 177.5 straddle.
• Selling a 20 November USD 160 cash-secured put for about USD 3.00 produces USD 300 of premium, with a USD 157 break-even and maximum risk of USD 15,700 if Nvidia falls to zero.
• Selling the put after the report reduces exposure to the earnings gap and allows a later strike choice, although implied volatility usually falls after the result and the premium becomes smaller.
• A 20 November USD 170/150 put spread costs about USD 4.25, risks USD 425, and can return up to USD 1,575 if Nvidia closes at or below USD 150.

Takeaway: Investors willing to own Nvidia can sell a put before or after earnings, while shareholders seeking defined downside risk can buy a put spread; each structure leaves specific exposure to the share price and to developments involving Huang.