All eyes on Wall Street will be glued to the latest second quarter earnings report by Nvidia (NASDAQ:NVDA) which is scheduled to land after the bell. While much of the attention is on the chipmaker itself, many exchange-traded funds will also be in the crosshairs as well, as price swings in the underlying stock will ripple out to the ETF space.
“While NVDA options are implying a +/- 10% move following earnings, higher than its four quarter average of 7%, we believe index and ETF options prices are broadly too low ahead of this event,” Goldman Sachs stated on Wednesday morning.
Highlighted below are the top 20 exchange-traded funds that have historically observed the largest volume adjusted price swings on NVDA earnings. “In addition to the semiconductors/tech ETFs, we find emerging market bonds, industrials and healthcare ETFs to have moved the most during the last 8 NVDA earnings,” Goldman Sachs noted.
See the top 20 list of ETFs that the investment bank provided. The list shows the funds with the largest volume adjusted price moves over the past 8 quarters of NVDA earnings.
Top 20 Volume Adjusted ETF Moves Post 8Q Nvidia Earnings
No. 20: (KWEB): Vol. adjusted move of 0.71 and an absolute move of 2.4%.
No. 19: (LQD): Vol. adjusted move of 0.73 and an absolute move of 0.5%.
No. 18: (IWM): Vol. adjusted move of 0.74 and an absolute move of 1.0%.
No. 17: (XBI): Vol. adjusted move of 0.75 and an absolute move of 1.4%.
No. 16: (XLP): Vol. adjusted move of 0.75 and an absolute move of 0.5%.
No. 15: (FXI): Vol. adjusted move of 0.80 and an absolute move of 1.8%.
No. 14: (XLU): Vol. adjusted move of 0.80 and an absolute move of 1.0%.
No. 13: (XLI): Vol. adjusted move of 0.81 and an absolute move of 0.8%.
No. 12: (XLY): Vol. adjusted move of 0.83 and an absolute move of 1.1%.
No. 11: (HYG): Vol. adjusted move of 0.83 and an absolute move of 0.5%.
No. 10: (ARKK): Vol. adjusted move of 0.85 and an absolute move of 2.4%.
No. 9: (XLV): Vol. adjusted move of 0.96 and an absolute move of 0.8%.
No. 8: (DIA): Vol. adjusted move of 0.96 and an absolute move of 0.7%.
No. 7: (EMB): Vol. adjusted move of 1.00 and an absolute move of 0.8%.
No. 6: (SPY): Vol. adjusted move of 1.02 and an absolute move of 1.0%.
No. 5: (VOO): Vol. adjusted move of 1.03 and an absolute move of 1.0%.
No. 4: (QQQ): Vol. adjusted move of 1.10 and an absolute move of 1.4%.
No. 3: (XLK): Vol. adjusted move of 1.29 and an absolute move of 1.8%.
No. 2: (SOXX): Vol. adjusted move of 1.43 and an absolute move of 2.9%.
No. 1: (SMH): Vol. adjusted move of 1.71 and an absolute move of 3.4%.
For reference, Nvidia (NVDA) will deliver its latest Q2 earnings report after the bell on Wednesday and economists are expecting to see EPS at $0.65 and revenue of $28.74B.
