- T options imply a ±6.1% move for AT&T Inc's Oct 21, 2026 earnings report (before market open), as of October 5, 2026.
- A long ATM T straddle entered at the last close before earnings and held to the reaction-day close was profitable in 6 of the last 15 reports.
T live implied move & 10Y history → · T stock after earnings → · Who is on the IV Rush Radar this week → · Who moves in sympathy this week → · How the IV rush trade works →
Why "just buy calls before earnings" usually loses even when you're right
Everything the market expects is already in the premium: implied volatility peaks at the last close before the report and collapses the moment the numbers are out. A call bought the night before needs the stock to move more than the implied move in the right direction just to break even — a smaller-than-priced move loses money on both calls and puts. Our IV crush guide walks through the mechanics; the expected-move calculator turns a straddle price into the break-even you'd need.
Buying the T straddle at the last close and holding through: 6 of 15 paid
The backtester replays a long ATM straddle entered at the last close before each of AT&T Inc's last 15 reports and marked at the reaction-day close — real contract prices, not theory. Long vol won 6 of 15; short vol is the mirror image.
| Report | Straddle at entry | At reaction close | Long-vol P&L |
|---|---|---|---|
| Jul 22, 2026 | $1.18 | $0.71 | -40% |
| Apr 22, 2026 | $1.49 | $0.54 | -64% |
| Jan 28, 2026 | $▮▮.▮▮ | $▮▮.▮▮ | ▮▮% |
| Oct 22, 2025 | $▮▮.▮▮ | $▮▮.▮▮ | ▮▮% |
| Jul 23, 2025 | $▮▮.▮▮ | $▮▮.▮▮ | ▮▮% |
Frequently asked questions
Should I buy T before earnings?
That is a decision only you can make, and this page does not give advice. What the data says: options price a move of ±6.1% for the Oct 21, 2026 report, so a long call or put needs AT&T Inc to move more than that in the right direction to profit after IV crush.
Does T implied volatility go up before earnings?
Typically yes: implied volatility in the nearest expiration builds as the report approaches because the event's expected move is priced into that expiration, then collapses once results are out.
When does T IV peak before earnings?
At the last close before the report — the final session before the print carries the biggest step for most names, which is why an IV-rush trade is exited before that close and never held through the announcement.
What is T's implied move for the next earnings?
Options currently price about ±6.1% for Oct 21, 2026 (before market open); the 10-year average move is about ±5.3%.