Bank earnings start this week, with at least seven major companies scheduled to report. With the S&P 500 index near all-time highs, this result could be a big stimulus to the market.
The financial sector is the third worst performing sector in the S&P 500 index in 2026. Despite being flat since the start of the year, options markets are pricing in big moves as investors weigh the impact of rising interest rates and tight consumer spending.
Here’s how the options market looks, according to the latest data from Cboe LiveVol.
Goldman Sachs – Tuesday, October 13th
The options market is pricing in a 2.84% rise following Goldman Sachs’ earnings release. Over the past eight reported quarters, the stock has moved an average of only about 2%. Only three of these quarters saw a negative stock price reaction, most recently dropping 1.87% in April.
The stock rose a whopping 9% following the company’s second-quarter report in July, its biggest post-earnings move since January 2019.
JP Morgan – Tuesday, October 13th
Options are pricing in a similar move by Goldman Sachs to JPMorgan, with an implied move of 2.5%, in line with the past eight-quarter average of 2.22%. Unlike Goldman, JPMorgan’s recent report has not been received very favorably. The stock’s 2.5% rise following the July report was the first positive reaction since April 2025, when it rose 4%.
Citigroup – Tuesday, October 13th
Citigroup posted an 11% year-over-year increase in Tuesday’s report, making it the best performer among reporting stocks this week. Options are pricing in a stock price reaction of around 3% in either direction, well below the reported average of 3.8% over the past eight quarters. However, there is a reason for the pause. Last quarter, the stock surprised by a 5.3% decline versus an unexpected 3.5% move.
Wells Fargo – Tuesday, October 13th
Wells Fargo closed out Tuesday’s big bank earnings as a name with a lot to prove. The company’s stock price has not only fallen 10% this year, but its past three earnings reports have also failed, including a 5% drop in April. This time, the option suggests a 3.5% move in either direction. This is well below the average of 5.6% over the past eight quarters.
Bank of America – Wednesday, October 14th
The options market believes Bank of America could move into positive territory in the year following Wednesday’s report. If they go up further, it will be their third straight win since closing. The current implied stock price change is 2.9% in either direction, well above the average reported 1.8% change over the past eight quarters.
Morgan Stanley – Wednesday, October 14th
This company has done very little wrong in its recent earnings history. The stock has only declined once in the past eight reported quarters, falling 1.3% in July 2025. This time, options suggest a 3% upside in either direction (compared to the eight-quarter average of 4.3%). Wednesday’s rise would mark Morgan Stanley’s fifth consecutive gain.
Black Rock – Wednesday 14th October
BlackRock, which soared nearly 7% following the announcement in July, would rise for the fifth straight quarter. The last negative reaction was in July last year, when the stock fell 6%, but this time options suggest a 3.3% move in either direction. This is modest compared to the average of 4.4% over the past eight quarters.
