Nvidia Corp. (NASDAQ:NVDA) is set to report earnings after the close Wednesday, and options traders are positioning for a sizable move in the AI chip leader's stock.

NVDA stock is moving ahead of earnings. See the price action here.

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Expectations remain high heading into the print. Consensus estimates call for adjusted earnings of $1.76 per share on revenue of $78.8 billion, according to Benzinga Pro data.

But for Nvidia, the question is rarely whether the company can beat Wall Street estimates. It is whether the beat, and more importantly the guidance, will be strong enough to satisfy investors.