Nvidia options pricing on Wednesday afternoon suggested traders expect shares to move roughly $10, or about 8%, in either direction around Wednesday’s earnings, which would be the stock's biggest post-earnings move since May.

Nvidia shares were in the green on Wednesday morning. The NVDA stock climbed up sharply after market open, going up over 3% to hit an intraday high of $131.60. The chip giant is set to report its fourth-quarter financial results on Wednesday after the bell,

Nvidia reported solid earnings late Wednesday and provided a revenue forecast for the April quarter that was ahead of expectations. For its January quarter, the semiconductor company reported adjusted earnings per share of 89 cents,