Nvidia stock is still suffering from a post-earnings slump and wider concerns about the market amid the Iran conflict. Analysts at J.P. Morgan think there is an options opportunity in the chip maker’s stock.

Its shares have fallen nearly 8% in the past five trading sessions. Recent earnings failed to boost the stock. Although technical analysis from Barron’s suggests it could reach $260 by the end of the year.

J.P. Morgan analysts think Nvidia might be holding back some good news for its GTC conference to be held from March 16-19, following a report from The Wall Street Journal that it could unveil a new chip for inference, the process of generating results from artificial-intelligence models.

“We like owning outright calls on Nvidia into the GTC conference, as clarity around 2027 datacenter growth and a potential new AI inference chip could propel upside in the name,” wrote J.P. Morgan analyst Bram Kaplan in a research note.

A call option gives investors the right to buy a stock at a certain price and time. Specifically, Kaplan and his colleagues recommend buying call options on Nvidia stock with a strike price of $190, expiring this month.

As buying the calls costs a premium of around $3.25 a share, Nvidia stock must trade above $193.25 at the time of the expiration of the option for the trade to be profitable.

Nvidia shares were up 1.7% at $183.04 on Wednesday.