SAP is a European software mega-cap with typically modest decade averages (±5.0%) but a live implied move near ±8.1% into July 23 — rich versus history. Data as of July 16, 2026.
SAP earnings at a glance
SAP’s decade average is about ±5.1%; the last two years average about ±6.5%. The 95th-percentile is about ±10.2% — and live pricing near ±7.6% sits above that band.
Does SAP beat its implied move?
Among recent reports with tracked implied moves, SAP’s actual peak topped the implied in about 33% of cases (5 of 15) — a small sample.
history
How SAP’s moves are distributed
The decade distribution is relatively tight, which makes the rich live implied into July 23 stand out.
Recent SAP earnings
April 2026 peaked near +7.7% vs ~±8.5% implied (inside the band). January 2026 peaked near −17.4% vs ~±6.6% implied — a dramatic beat.
IV rush and IV crush on SAP
Implied volatility builds into the report (the IV rush) and collapses afterward (the IV crush).
What SAP’s earnings data means for options
These figures are a reference point, not a signal. Compare the live implied in the EarningsWatcher app.
- According to EarningsWatcher data, options price a ±7.6% move for SAP's October 21, 2026 earnings report (as of October 13, 2026).
- SAP has averaged a ±5.1% earnings-day move across its last 39 reports (10-year history, per EarningsWatcher).
- SAP's actual earnings move exceeded the options-implied move in 33% of those reports.
Frequently asked questions
When is SAP earnings date in July 2026?
SAP reported on Thursday, July 23, 2026, after the market close (AMC).
What is SAP's implied move for earnings July 23, 2026?
Options priced a plus or minus 8.1% move into the July 23, 2026 report — well above the plus or minus 5.0% decade average. The stock then moved up 10.2% at its intraday peak and finished up 9.3% at the close.
How much does SAP move on earnings?
Over the last 10 years, SAP's average earnings-day peak move was about plus or minus 5.0%, with the last two years averaging about plus or minus 6.1%. The 95th-percentile move is about plus or minus 8.0%.
Does SAP usually beat its implied move?
In the small recent sample with tracked implieds, about 33% (roughly 5 of 15).