Earnings are set to hit the tape on Tuesday, and the options market is already sketching out the size of the post-print swing investors may have to stomach. For retail traders, implied moves can be a quick gut-check on whether a setup is pricing in a routine reaction — or a potential air pocket — according to Benzinga Pro.
This is a Benzinga-selected watchlist spanning healthcare distribution, athletic footwear, LNG, optical components and AI infrastructure. The marquee name on the list is Lumentum, but the biggest implied move is saved for the final section as the countdown runs from the calmest setup to the most volatile.
6. Cardinal Health | Mkt Cap: $56B | Implied Move: 6.83%
Cardinal Health, Inc. (NYSE:CAH) reports fourth quarter of 2026 results before the opening bell. Wall Street is looking for $2.42 in earnings per share on $65.21 billion in revenue, compared with $2.08 on $60.16 billion a year ago.
Options are pricing in a 6.83% move, Benzinga Pro data show. With Cardinal Health valued at $55.6 billion, that’s about $3.8 billion of market value at stake around the print.
Cardinal Health sits at the center of U.S. drug distribution, sourcing and moving branded, generic and specialty pharmaceuticals to pharmacies and healthcare providers. The stock carries a Buy consensus rating, and the stock is trading below the 180-day average analyst price forecast; in July, Citigroup, Mizuho, and UBS raised their price forecasts.
Shares have rallied in 2026, up 14.9% year-to-date and trading 12.2% above the 200-day moving average. The shares sit about 72% above the 52-week low of $137.75.
5. On Holding | Mkt Cap: $13B | Implied Move: 9.39%
On Holding AG (NYSE:ONON) reports second quarter of 2026 results before the opening bell. Consensus calls for 41 cents in EPS on $1.11 billion in revenue, compared with a 11 cent per share loss on $906.88 million in the prior-year quarter.
Benzinga Pro shows options are implying a 9.39% move, putting roughly $1.25 billion of market value in play given On Holding AG’s $13.3 billion capitalization. That’s a noticeably larger swing than the low-volatility name on this list, reflecting how sensitive the tape can be to demand signals in consumer brands.
On Holding AG generates more than 90% of sales from athletic shoes, with a brand built around its CloudTec soles, while apparel and accessories remain smaller contributors. The stock carries a Buy consensus rating, and the share price sits well below the 180-day average analyst price forecast; in August, Evercore ISI Group reiterated its Outperform rating and raised its price forecast, while in July UBS reiterated its Buy rating and cut its price forecast.
The stock has pulled back in 2026, down 20.0% year-to-date and trading 5.7% below the 200-day moving average. The shares sit about 27% below the 52-week high of $52.20.
4. Venture Global | Mkt Cap: $33B | Implied Move: 10.95%
Venture Global, Inc. (NYSE:VG) reports second quarter of 2026 results before the opening bell. Analysts expect 50 cents in EPS on $4.65 billion in revenue, up from 14 cents on $3.10 billion a year earlier.
The options market is pricing in a 10.95% move, according to Benzinga Pro, with about $3.67 billion of market value at stake based on Venture Global’s $33.5 billion market cap. For an LNG producer, that implied swing underscores how much investors can re-rate the story on volume, pricing and forward commentary.
Venture Global operates two liquefied natural gas production facilities in Louisiana and has leaned into modular, factory-built equipment to drive output. The stock carries a Buy consensus rating, and the 180-day average analyst price forecast sits well above where the stock trades; in June, JP Morgan upgraded the stock to Overweight and raised its price forecast, while Bernstein initiated coverage with a Market Perform rating.
Shares have rallied in 2026, up 88.4% year-to-date and trading 24.6% above the 200-day moving average. The shares sit about 24% below the 52-week high of $17.62.
3. Lumentum | Mkt Cap: $72B | Implied Move: 13.58%
Lumentum Holdings Inc. (NASDAQ:LITE) reports fourth quarter of 2026 results after the closing bell. The Street is modeling $2.90 in EPS on $987.87 million in revenue, compared with 88 cents on $480.70 million in the year-ago quarter.
Benzinga Pro data show options are implying a 13.58% move. With Lumentum Holdings valued at $71.7 billion, that translates to roughly $9.74 billion of market value at stake — the largest dollar figure on this list even though it’s not the top implied-move percentage.
Lumentum Holdings sells optical and photonic products, including components used in telecom networking equipment as well as commercial lasers for manufacturing and life-science applications. The stock carries a Buy consensus rating, and shares trade below the 180-day average analyst price forecast; in July, Barclays upgraded the stock to Overweight, while TD Cowen reiterated its Hold rating and cut its price forecast.
Shares have rallied in 2026, up 130.5% year-to-date and trading 49.1% above the 200-day moving average. The shares sit about 15% below the 52-week high of $1085.68.
2. CoreWeave | Mkt Cap: $50B | Implied Move: 13.75%
CoreWeave, Inc. (NASDAQ:CRWV) reports second quarter of 2026 results after the closing bell. Wall Street expects a $1.49 per share loss on $2.55 billion in revenue, compared with a 27 cent per share loss on $1.21 billion a year ago.
Options traders are pricing in a 13.75% move, according to Benzinga Pro. With CoreWeave sitting at about $50 billion in market value, that implies roughly $6.88 billion of market cap in play as investors weigh growth against losses.
CoreWeave provides cloud infrastructure built around Nvidia GPUs and other AI hardware, targeting demanding training and inference workloads. The stock carries a Buy consensus rating, and the stock is trading well below the 180-day average analyst price forecast; in August, Citigroup reiterated its Buy rating and cut its price forecast, while Piper Sandler initiated coverage with an Overweight rating.
Shares have rallied in 2026, up 14.3% year-to-date, trading 2.1% below the 200-day moving average after the 50-day moving average crossed below the 200-day in July. The shares sit about 40% below the 52-week high of $153.20.
1. Super Micro Computer | Mkt Cap: $21B | Implied Move: 13.83%
Super Micro Computer, Inc. (NASDAQ:SMCI) reports fourth quarter of 2026 results after the closing bell. Consensus estimates call for 88 cents in EPS on $11.45 billion in revenue, compared with 41 cents on $5.76 billion in the prior-year quarter.
Benzinga Pro data show options are implying a 13.83% move — the widest on this Benzinga-selected list — with about $2.87 billion of market value at stake based on Super Micro Computer’s $20.8 billion market cap. That elevated implied swing suggests traders see meaningful headline risk in both the numbers and the outlook.
Super Micro Computer builds high-performance server technology for cloud computing, data centers, high-performance computing and embedded markets tied to the Internet of Things. The stock carries a Hold consensus rating, and the share price sits below the 180-day average analyst price forecast; in July, Mizuho reiterated its Neutral rating and cut its price forecast, while Rosenblatt reiterated its Buy rating and raised its price forecast.
Shares have traded largely flat in 2026, up 0.5% year-to-date and trading 0.3% below the 200-day moving average. The shares sit about 45% below the 52-week high of $58.78.
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