If you're holding stock in any of the companies reporting this week, you might want to buckle up. The options market is signaling that traders expect some serious turbulence after the earnings calls.
According to market data, the implied moves—that's the expected price swing derived from the cost of options straddles expiring right after earnings—are running at double-digit percentages for a bunch of names. We're talking about companies with market caps of at least $2 billion, so these aren't tiny, speculative plays. The market is bracing for impact.
Let's break down who's in for the wildest rides.
The Headliners: Big Names, Big Swings
Micron Technology (MU) — Implied Move: 9.28% | ATM Strike: $425.00 | Dollar Implied Move: ~$39.42
Micron is the week's marquee event, reporting after Wednesday's close. A 9.28% move might not sound earth-shattering on its own, but when your stock is trading around $425, that translates to a potential swing of nearly $40 in either direction. That's the largest absolute dollar move on the calendar.
The chipmaker has been on an absolute tear, up 240% over the past year and another 50% year-to-date, all thanks to the AI boom and its high-bandwidth memory (HBM) chips. Consensus expects EPS of $8.77 on revenue of $19.26 billion. Everyone will be listening for updates on HBM supply deals, what the big cloud companies are planning to spend, and how the competition with Samsung and SK Hynix is shaping up. When you're this high up, the fall—or the next jump—can be dramatic.
Oklo Inc. (OKLO) — Implied Move: 10.09% | ATM Strike: $58.00 | Dollar Implied Move: ~$5.89
Oklo is a poster child for the AI power infrastructure trade. This advanced nuclear microreactor company reports after Tuesday's close. Here's the thing: consensus expects a loss of $0.17 per share and basically no revenue. It's a pre-commercial company. So why the 10% implied move?
Because for a story stock like this, sentiment is everything. Oklo surged 238% last year on the dream of powering AI data centers with clean, reliable nuclear power. It's cooled off 20% year-to-date as the nuclear hype settled down. Now, with an at-the-money strike at $58, options are pricing in a nearly $6 swing. Investors will be hanging on every word about regulatory progress with the Nuclear Regulatory Commission, power purchase agreements, and timelines. For a company without sales, execution signals can move the needle violently.
Macy's (M) — Implied Move: 10.72% | ATM Strike: $17.00 | Dollar Implied Move: ~$1.82
Macy's reports before the open on Wednesday. Wall Street is looking for EPS of $1.54 on revenue of $7.61 billion. The holiday quarter is make-or-break for department stores. The $1.82 implied dollar move around the $17 strike might seem small in cash terms, but a 10.7% swing is nothing to sneeze at for a stock at these levels. Traders will be dissecting comparable sales, inventory levels, and any news on the company's ongoing strategy to shrink its physical footprint.












