It's a pivotal week for the software trade, with two sector heavyweights like Oracle Corp. (ORCL) and Adobe Inc. (ADBE) reporting results on Wednesday and Thursday, respectively.

Investors will scrutinize whether Oracle stays committed to the heavy AI-related capital spending behind its half-trillion-dollar backlog, and how Adobe plans to answer the rising threat from generative AI — its stock is down nearly 30% year-to-date, echoing a similar slide in 2025.

But the pair is not where the options market sees the biggest moves.

Eight other stocks with market caps above $2 billion are set for sharp post-earnings reactions, according to market data, with implied swings ranging from 8.62% to 18.24%.

Implied moves measure the size of the single-session swing, up or down, that the options market expects based on at-the-money straddle pricing ahead of each earnings date. A higher reading means traders are paying up for protection or positioning into a binary result.

Here is the full ranking, from the smallest expected move to the largest.

10. Academy Sports and Outdoors, Inc. | Mkt Cap: $3.37B | Implied Move: 8.62%

Academy Sports and Outdoors, Inc. (ASO) reports on Tuesday, June 9, before the market opens, with first-quarter fiscal 2026 results.

Analysts expect $0.91 in earnings per share on revenue of $1.44 billion, implying year-over-year earnings growth around 21% and a top line up roughly 7% for the sporting-goods and outdoor retailer.

The 8.62% implied move is the smallest on this week's list, about $4.46 a share, equating to roughly $291 million of market value at stake. Academy's print is an early read on how the value-focused discretionary shopper is holding up as new-store growth continues across the South.

The stock is up about 3% year-to-date near $52, one of the steadier names on the list.

9. Adobe Inc. | Mkt Cap: $101.12B | Implied Move: 8.80%

Adobe Inc. (ADBE) reports second-quarter fiscal 2026 results on Thursday, June 11, after the close.

The Street is looking for $5.82 per share on revenue of $6.46 billion, with earnings climbing roughly 15% and revenue up about 10% year-over-year.

The 8.80% implied move is the second-smallest in percentage terms but, against Adobe's size, the second-largest dollar exposure on the list — roughly $8.9 billion of market value on a single session.

That gap is the whole Adobe debate: the business still throws off software-like cash, while the stock trades as if generative AI will permanently lower the value of its creative bundle.

Adobe is down about 29% year-to-date near $257, echoing a similar slide in 2025, though it bounced 6% to 8% in early June as money rotated back into beaten-down software.

8. Core & Main, Inc. | Mkt Cap: $9.80B | Implied Move: 11.04%

Core & Main, Inc. (CNM) reports first-quarter fiscal 2026 results on Wednesday, June 10, before the market opens.

Consensus calls for $0.67 per share on revenue of $1.91 billion, roughly flat with the year-ago quarter.

An 11.04% implied move, about $5.78 a share, puts roughly $1.1 billion of market value in play.

Core & Main distributes pipes, valves, hydrants and storm-drainage products to municipalities and contractors, and just logged its 16th consecutive year of sales growth — making this print a clean read on U.S. water and replacement-infrastructure spending.

The stock is essentially flat year-to-date near $52, supported by an ongoing buyback and bolt-on acquisitions.

7. Oracle Corp. | Mkt Cap: $631.21B | Implied Move: 11.22%

Oracle Corp. (ORCL) reports fourth-quarter fiscal 2026 results on Wednesday, June 10, after the close — the most consequential print of the week.

Analysts model $1.96 per share on revenue of $19.10 billion, with earnings up about 15% and revenue up roughly 20% year-over-year.

The 11.22% implied move against Oracle's $631 billion market cap dwarfs everything else on the list — marking a staggering $71 billion of market value swinging on a single session.

The number that matters is the backlog: remaining performance obligations hit $553 billion last quarter, up 325% year-over-year, as Oracle signed long-dated AI-capacity deals and reframed itself as something closer to an AI real-estate landlord.

With capital spending guided near $50 billion, the June 10 test is whether that backlog is converting into delivered capacity, revenue and cash, not just bigger commitments.

Oracle trades near $212, up about 12% year-to-date and roughly 16% over the past month into the print.

The market already believes the AI demand is there. The question is whether Oracle can build fast enough to serve it without overborrowing.

6. Chewy, Inc. | Mkt Cap: $8.49B | Implied Move: 11.31%

Chewy, Inc. (CHWY) delivers first-quarter fiscal 2026 numbers on Wednesday, June 10, before the bell.

The Street is looking for $0.28 per share on revenue of $3.37 billion, with earnings up about 22% and the top line up roughly 8% year-over-year.

Chewy is one of 2026's hardest-hit consumer names, down about 38% year-to-date to near $21 and trading close to a 52-week low as softer pet-category spending bites.

The company is pushing deeper into veterinary care with a planned acquisition of Modern Animal, and autoship now drives about 84% of sales — the recurring-revenue engine investors will watch for signs the consumer is pulling back.

5. Uranium Energy Corp. | Mkt Cap: $6.39B | Implied Move: 11.72%

Uranium Energy Corp. (UEC) reports fiscal third-quarter 2026 results on Tuesday, June 9, before the market opens.

Analysts model a loss of $0.05 per share on revenue of just $4.25 million.

The uranium miner has become a favored proxy for the nuclear-power revival, as AI data centers send hyperscalers hunting for reliable round-the-clock electricity.

The print itself rarely moves on earnings — it moves on production ramp, contracting and the spot uranium price.

The stock is up about 11% year-to-date, near $14.

4. United Natural Foods, Inc. | Mkt Cap: $3.41B | Implied Move: 12.68%

United Natural Foods, Inc. (UNFI) reports fiscal third-quarter 2026 results on Tuesday, June 9, before the market opens.

Forecasters peg earnings at $0.78 per share on revenue of $7.80 billion for the grocery distributor, the primary supplier to Whole Foods Market — earnings are seen rising about 75% year-over-year, even as revenue slips roughly 3%, the margin story in a single line.

This print laps the cyberattack that disrupted United Natural Foods' systems in June 2025, setting up an easy year-over-year comparison, while management has been deleveraging ahead of schedule and exiting low-margin business.

With full-year net sales guided to $31.6 billion to $32.0 billion, the question is whether the margin gains can stick.

Quietly, it has been the best performer on this week's list, up about 66% year-to-date as it recovered from the cyberattack and rebuilt its balance sheet.

3. RH | Mkt Cap: $2.80B | Implied Move: 14.75%

RH (RH), the luxury home-furnishings retailer formerly known as Restoration Hardware, reports first-quarter fiscal 2026 results on Thursday, June 11, after the close.

Market data show a consensus loss of $2.12 per share on revenue of $793.05 million — a swing into the red from a small profit a year ago, as tariffs on Asian-sourced furniture and a weak high-end housing market squeeze margins.

The 14.75% implied move puts around $413 million of market value at stake.

RH tumbled to a six-year low after its prior report and has absorbed a string of price-target cuts even as it pushes an aggressive international expansion with new galleries in Milan, Paris and London.

The stock is down about 19% year-to-date and remains one of the market's clearest bets on whether even wealthy households are pulling back.

2. SailPoint, Inc. | Mkt Cap: $10.32B | Implied Move: 17.71%

SailPoint, Inc. (SAIL) reports first-quarter fiscal 2027 results on Tuesday, June 9, before the market opens.

Analysts model $0.04 per share on revenue of $276.02 million, with revenue up roughly 20% year-over-year and earnings swinging sharply higher off a small base.

The 17.71% implied move translates to roughly $1.8 billion of market value on the line. SailPoint, the identity-security vendor taken private by Thoma Bravo in 2022 and re-listed at $23 in early 2025, surpassed $1 billion in annual recurring revenue last quarter.

Its pitch is timely: as AI agents proliferate inside enterprises, every one of them becomes a new identity to govern — a tailwind it is racing to monetize against Okta and CyberArk.

The stock is down about 9% year-to-date near $18, still below its re-IPO price.

1. Navan, Inc. | Mkt Cap: $5.45B | Implied Move: 18.24%

Navan, Inc. (NAVN) tops the list with first-quarter fiscal 2027 results due Wednesday, June 10, after the close — only its third quarterly report since its October 2025 IPO.

The Street is modeling a breakeven quarter, a loss of roughly a penny per share, on revenue of $205.27 million.

Options are pricing an 18.24% swing — the largest implied move of the week, about $3.87 a share — translating to roughly $994 million of market value at potential swing on a single session.

Navan runs an AI-powered corporate travel and expense platform, and its stock has been a rollercoaster: it was priced at $25, sank as low as the $10 range, and has since rebuilt to near $20, with TD Cowen lifting its target to $28 last week.

That round trip is exactly why the options market is bracing — a recent IPO still finding its footing, heading into a print where the guidance, not the quarter, sets the next move.