IREN leads earnings week with 12.50% implied move, Nvidia at 5.27%

Options markets are signaling sizable share-price swings as earnings season resumes, with Benzinga's selected list ranging from Nvidia's updated 5.27% implied move to IREN's 12.50% move. Nvidia reports fiscal second-quarter 2027 results Wednesday, Aug. 26, after the market closes, with Wall Street expecting $2.07 in earnings per share and $92.03 billion in revenue. Earlier estimates cited $91.91 billion in revenue and a 5.35% implied move. CNBC's Jim Cramer criticized skeptical coverage, while analyst Dan Ives said AI-chip demand exceeds supply by 15 to 1 and argued that memory-driven price increases of more than 15% are unlikely to slow purchases by Microsoft, Alphabet or Oracle. Salesforce, Synopsys and CrowdStrike also report Wednesday, with implied moves of 7.37%, 7.88% and 8.13%, respectively. Workday, Ulta Beauty, Marvell Technology and IREN report Thursday, while Intuit reports Tuesday. IREN owns renewable-powered data centers in Canada and the U.S. used for bitcoin mining and AI cloud infrastructure. Options-implied moves estimate the market's expected magnitude of movement around an event, rather than its direction.

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