Last week was all about the mega-caps. Microsoft (MSFT) and Amazon (AMZN) blew past expectations, while Apple (AAPL) and Meta (META) got punished over margin worries. But the first week of August brings a different cast of characters, and the options market is bracing for some serious moves.

Novo Nordisk (NVO) and Eli Lilly (LLY) headline the GLP-1 franchise, while SanDisk (SNDK) and Western Digital (WDC), two of the most watched memory names, sit at the top of the volatility table.

Screening market data for U.S.-listed companies worth more than $50 billion, these are the 10 largest implied movers of the week.

Which Stocks Could Swing The Most This Week?

The implied move is the percentage change that options markets expect a stock to make over a specific period, in this case around an earnings announcement, based on current option prices.

10. Constellation Energy: 9.00% Implied Move

The nuclear power producer reports Aug. 6 before the open. Analyst consensus calls for $7.95 billion in revenue and earnings at $2.42 per share.

Watch new power purchase agreements with data center customers, nuclear output and the Calpine integration.

Constellation Energy Corp. (CEG) heads into the print down 25.5% for 2026.

9. Petrobras: 9.58% Implied Move

The Brazilian oil major reports Aug. 6 after the close. Watch production volumes, refining margins with Brent near $90 and the size of the next dividend declaration.

Petróleo Brasileiro S.A. (PBR) has climbed 51.4% since January.

8. Novo Nordisk: 9.65% Implied Move

The GLP-1 drugmaker reports Aug. 5 before the open. Analysts model $11.35 billion in revenue and earnings of 81 cents per share.

Wegovy and Ozempic prescription trends, supply and competition from Eli Lilly are the swing factors.

Novo Nordisk A/S (NVO) is off 7.8% on the year.

7. DoorDash: 10.12% Implied Move

The food delivery platform reports Aug. 5 after the close. Consensus sits at $4.33 billion in revenue and earnings of 45 cents per share.

Total orders, gross order value and the pace of grocery and new-vertical growth are what matters.

DoorDash Inc. (DASH) has slipped 13.5% in 2026.

6. Shopify: 12.47% Implied Move

The e-commerce platform reports Aug. 6 before the open. Analysts expect $3.44 billion in revenue and earnings of 40 cents per share.

Gross merchandise volume, take rate and operating margin drive the reaction.

Shopify Inc. (SHOP) sits 26.5% lower year to date.

5. Cloudflare: 12.68% Implied Move

The connectivity and security company reports Aug. 6 after the close. Analyst consensus calls for $665.50 million in revenue and earnings of 27 cents per share.

Large-customer additions, net revenue retention and traction in AI inference products are the levers.

Cloudflare Inc. (NET) has gained 42.4% this year.

4. Datadog: 12.88% Implied Move

The observability software firm reports Aug. 6 before the open. Analysts model $1.08 billion in revenue and earnings of 59 cents per share.

Net revenue retention, large-customer growth and AI-native customer contribution are the tell.

Datadog Inc. (DDOG) has nearly doubled in 2026, up 99.9%.

3. AppLovin: 12.96% Implied Move

The mobile advertising company reports Aug. 5 after the close. Consensus sits at $1.94 billion in revenue and earnings at $3.72 per share.

Advertising engine revenue, the e-commerce ad rollout and EBITDA margin drive the move.

AppLovin Corp. (APP) has lost 42.1% year to date, the worst performer on this list.

2. Western Digital: 13.39% Implied Move

The hard drive maker reports Aug. 5 after the close. Analysts expect $3.69 billion in revenue and earnings at $3.29 per share.

Nearline drive demand from data centers, exabyte shipments and pricing set the tone for the standalone HDD business.

Western Digital Corp. (WDC) has more than tripled, up 222.2% for the year.

1. SanDisk: 17.47% Implied Move

The memory chip maker reports Aug. 5 after the close. Analysts model $8.39 billion in revenue and earnings at $34.45 per share.

NAND pricing, enterprise SSD demand for AI and gross margin are what the market is pricing.

Up 423.2% in 2026, SanDisk Corp. (SNDK) towers over the rest of this group.