Five of the Magnificent Seven stocks — Alphabet Inc. (NASDAQ:GOOGL), Microsoft Corp. (NASDAQ:MSFT), Amazon.com Inc. (NASDAQ:AMZN), Meta Platforms Inc. (NASDAQ:META) and Apple Inc. (NASDAQ:AAPL) — report earnings between Tuesday and Thursday this week.
So do energy supermajor Exxon Mobil Corp. (NYSE:XOM), pharma giant Eli Lilly & Co. (NYSE:LLY), payments duopoly Visa Inc. (NYSE:V) and Mastercard Inc. (NYSE:MA), and industrial bellwether Caterpillar Inc. (NYSE:CAT).
These 10 companies reporting this week represent roughly $18.59 trillion in combined market capitalization, making the final week of April one of—if not the most—important of the Q1 2026 earnings season.
Yet, the loudest signal from the options market isn’t coming from any of them.
The Mega-Cap Stocks With The Biggest Implied Moves This Week
According to Benzinga Pro data, options markets are pricing the largest single-stock move not on a Big Tech name, but on a $150 billion NAND maker up 317% year-to-date: Sandisk Corp. (NASDAQ:SNDK).
The list spans cloud hyperscalers, AI infrastructure suppliers, semiconductor capital equipment, and the memory cohort that has rallied harder than any other tech sub-sector in 2026.
Implied moves measure the size of the price swing — up or down — that the options market expects, based on at-the-money straddle pricing ahead of the earnings date. A 16.57% implied move means options traders are positioning for an equal probability of a 16.57% gain or a 16.57% loss when results land.
Below are the 10 mega-cap stocks (market caps above $100 billion) with the largest implied post-earnings moves this week, ranked from smallest to largest, followed by the five Magnificent Seven names.
10) Booking Holdings Inc. | Mkt Cap: $140.27B | Implied Move: 7.36%
- Booking Holdings Inc. (NASDAQ:BKNG) reports first-quarter 2026 results on April 28 after the market close.
- Consensus calls for earnings per share of $17.78 on revenue of $4.61 billion, translating to year-over-year EPS growth of +7.94% and a top-line gain of +15.84%.
- The options market is pricing a 7.36% swing, putting roughly $10.3 billion of market value at stake on the print.
- The stock has lagged the broader market, sliding 15.66% year-to-date, though April has brought a 7.03% bounce.
9) Banco Santander SA | Mkt Cap: $174.97B | Implied Move: 7.86%
- Banco Santander SA (NYSE:SAN) reports first-quarter 2026 results on April 29 before the market open.
- Analysts model EPS of $0.28 on $17.93 billion in revenue, marking a +39.16% earnings surge and a more modest +4.91% revenue lift.
- Options imply a 7.86% post-earnings move on the U.S.-listed ADR, equivalent to roughly $13.8 billion in market value.
- Santander has eked …