The most popular stock in the world, Nvidia (NVDA), is poised to announce its hotly anticipated quarterly earnings on Wednesday after the close of trading. Investors have scooped up Nvidia shares ahead of the results on expectations for a big quarter and a strong outlook as the company’s new Blackwell AI chip ships.

But there are more ways to trade Nvidia than simply smashing the buy button down on the stock or shorting inferior rivals. While there is more risk to trading Nvidia using more complex strategies, if right, the wagers could pay off handsomely. In today's Opening Bid, Yahoo Finance Executive Editor Brian Sozzi drills deep into the Nvidia trade with 22V Research Head of Derivative Strategy Jeff Jacobson. Jacobson outlines three complex trades one can undertake on Nvidia.

Yahoo Finance's Opening Bid is produced by Rachael Lewis-Krisky.