- U options imply a ±0% move for Unity Software's Nov 5, 2026 earnings report (before market open), as of October 19, 2026.
- A long ATM U straddle entered at the last close before earnings and held to the reaction-day close was profitable in 5 of the last 14 reports.
U live implied move & 10Y history → · U 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 U straddle at the last close and holding through: 5 of 14 paid
The backtester replays a long ATM straddle entered at the last close before each of Unity Software's last 14 reports and marked at the reaction-day close — real contract prices, not theory. Long vol won 5 of 14; short vol is the mirror image.
| Report | Straddle at entry | At reaction close | Long-vol P&L |
|---|---|---|---|
| Aug 6, 2026 | $5.43 | $5.62 | +4% |
| May 7, 2026 | $4.02 | $1.54 | -62% |
| Feb 11, 2026 | $▮▮.▮▮ | $▮▮.▮▮ | ▮▮% |
| Nov 5, 2025 | $▮▮.▮▮ | $▮▮.▮▮ | ▮▮% |
| Aug 6, 2025 | $▮▮.▮▮ | $▮▮.▮▮ | ▮▮% |
Frequently asked questions
Should I buy U 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 ±0% for the Nov 5, 2026 report, so a long call or put needs Unity Software to move more than that in the right direction to profit after IV crush.
Does U 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 U 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 U's implied move for the next earnings?
Options currently price about ±0% for Nov 5, 2026 (before market open); the 10-year average move is about ±16.7%.