Why Traders are Turning to Nasdaq-100 Micro Index (XND) Options for NVDA Earnings

NVIDIA (NVDA) is set to report earnings on Wednesday August 27 after the market closed. As a large component of the Nasdaq-100 (NDX) we dug option price action around NVDA earnings for both NDX and XND (1/100th NDX). What we found may have is that traders consider an index option strategy on NVDA earnings day.