Expected Move
The expected move is the size of the price swing options markets have priced in for an earnings event, derived from at-the-money option premiums. Traders compare the stock's actual post-earnings move to the expected move to judge whether options were cheap or expensive going in.
Seen in a real earnings call
“…regional in personal lines. At the same time, we executed major improvements in our portfolio and property aggregation management, greatly reducing our earnings volatility. And our thoughtful and consistent growth are enabling even more relevance with the top distributors and allowing us to improve our scale and expense…”The Hanover Insurance Group, Inc. (THG) — earnings call, September 17, 2026