Aflac, Alphabet, Amazon, Ford, Meta, Microsoft: Earnings-Day Vol

April 28, 2026

Traders are preparing for bigger swings than usual in shares of companies including Cognizant and Amphenol after their earnings, while they’re expecting smaller moves in Garmin and Carvana. Here’s a list of S&P 500 members reporting on April 29 for which the options market is over- or underpricing volatility relative to fluctuations on sessions following past results:

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Here’s how the implied earnings-day moves of these companies fared in past earnings:

  • Overpriced: ADP (7/8), Align Technology (6/8), Allstate (5/8), American Water (8/8), Amphenol (5/8), Biogen (7/8), Cognizant (8/8), Entergy (5/8), Generac (5/8), Humana (6/8), O’Reilly Automotive (7/8), VICI Properties (8/8) …

  

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