Every quarter, bank earnings are the opening bell for US reporting season. JPMorgan, Bank of America, Goldman Sachs, Wells Fargo and Citigroup typically report on the same mid-July morning (before the open), and options markets treat the cluster as a low-dispersion but high-attention event: modest average moves, elevated implied volatility going in, and a sharp IV crush once results are out. The table below is pulled from the EarningsWatcher calendar as of early July 2026 — average move history, live implied moves and tail risk for each name.
July 14, 2026 — mega-cap bank calendar
| Bank | Report (Jul 2026) | Avg move (10yr) | Avg move (2yr) | Live implied | 95th-pct tail |
|---|---|---|---|---|---|
| JPM JPMorgan | Jul 14 · BMO | ±3.4% | ±3.4% | ±4.4% | ±6.1% |
| BAC Bank of America | Jul 14 · BMO | ±3.9% | ±4.4% | ±4.5% | ±6.6% |
| GS Goldman Sachs | Jul 14 · BMO | ±4.0% | ±4.2% | ±6.0% | ±7.3% |
| WFC Wells Fargo | Jul 14 · BMO | ±4.9% | ±7.1% | ±5.5% | ±8.3% |
| C Citigroup | Jul 14 · BMO | ±4.0% | ±5.1% | ±5.5% | ±7.8% |
How to read it. “Avg move” is the typical earnings-day peak move over ten or two years. “Live implied” is what options were pricing in ahead of the July 14 prints (early July 2026 snapshot). Tap any ticker for its full playbook. Also reporting that week: Netflix (NFLX) on July 16 AMC — a high-dispersion contrast.
Why bank earnings matter for options traders
- Low headline volatility, real tail risk. Most bank prints land in the mid-single digits, but 95th-percentile moves reach roughly 6–8% — enough to hurt undefined-risk structures.
- Beat-rate surprise. JPM and BAC both show about a 63% implied-move beat rate in our data — high for such small average moves. The implied move has historically been a conservative estimate more often than not, even when the stock “looks sleepy.”
- Regime shifts. Wells Fargo’s two-year average (±7.1%) sits well above its decade mark (±4.9%) — recent quarters have run hotter. Compare live implied to both windows.
- Season timing. Bank week overlaps with the start of Q2 2026 earnings season — IV is elevated across the market, not just on banks.
IV rush and IV crush on bank earnings
Like every earnings event, implied volatility builds into the report (the IV rush) and collapses afterward (the IV crush). Banks are often described as “small movers,” but that refers to the average outcome — not whether long premium paid off after IV collapse. When the actual move undershoots the implied move, long straddles can lose on both legs; when it overshoots (more common than many expect on JPM/BAC), the crush cuts both ways. The historical implied-vs-actual record per bank is the reference — not a rule of thumb.
Common mistakes around bank earnings options
- Assuming banks never gap. Tail moves of 6–8% happen — sizing as if 3% is the max is how accounts get surprised.
- Ignoring peak vs close. Banks can spike intraday and settle smaller; options are sensitive to the peak path on BMO prints.
- Treating all five banks as identical. GS implied (~6%) prices a wider move than JPM (~4.4%) for good reason — use each stock’s own history.
- Chasing last quarter’s move. WFC’s heating two-year regime and NFLX’s cooling stretch show why the long-run distribution still matters.
Per-bank earnings playbooks
- JPMorgan (JPM) earnings options
- Bank of America (BAC) earnings options
- Goldman Sachs (GS) earnings options
- Wells Fargo (WFC) earnings options
- Citigroup (C) earnings options
How EarningsWatcher helps
The Calendar shows every bank reporting July 14 with live implied moves; the Moves analyser has the full implied-vs-actual history, beat rate and distribution per ticker; the Simulator lets you test straddles and condors against historical bank moves before the print. Use the weekly calendar for the full reporting list.
Frequently asked questions
When do bank stocks report earnings in July 2026?
The mega-cap US banks — JPMorgan, Bank of America, Goldman Sachs, Wells Fargo and Citigroup — are scheduled to report Q2 2026 results on July 14, 2026, before the market open (BMO). That morning traditionally kicks off each quarter's earnings season. Confirm exact times on a live calendar.
How much do bank stocks move on earnings?
Less than many traders expect. Over the last decade, the five mega-cap banks average roughly plus or minus 3.4% to 4.9% peak moves on earnings day — tight compared with technology names. Wells Fargo has run hotter lately (about plus or minus 7.1% over two years vs 4.9% over ten). Tail risk still exists: 95th-percentile moves reach roughly 6% to 8% for most of the group.
What is the implied move for bank earnings?
As of early July 2026, live implied moves for the July 14 bank reports range from about plus or minus 4.4% (JPM) to plus or minus 6.0% (GS) — modestly above the decade averages for several names. The implied move firms up only as the report nears; check the live figure in the EarningsWatcher app.
Why do banks report first in earnings season?
Large banks are among the earliest reporters each quarter because their results are watched as a read on credit, rates and the broader economy. Options traders treat the cluster as the opening act of earnings season: IV rush into the prints, IV crush after, and a low-dispersion move profile that still surprises on outlier quarters.