Earnings are set to hit the tape on Thursday after the closing bell, and options markets are already sketching out how violent the post-print reaction could be across a Benzinga-selected mix of travel, software, fintech, crypto-linked names and consumer-facing platforms, according to Benzinga Pro.
The marquee name on this list is Airbnb, but the biggest implied swing is saved for the final section as the countdown runs from the calmest setup to the most volatile.
9. Airbnb | Mkt Cap: $99B | Implied Move: 6.73%
Airbnb, Inc. (NASDAQ:ABNB) reports third quarter of 2026 results, with Wall Street looking for $2.85 in earnings per share on $4.75 billion in revenue. That would top last year’s $2.21 EPS on $4.09 billion, keeping the focus on whether travel demand and take rates are holding up into year-end.
Benzinga Pro data show options are pricing in a 6.73% move, the smallest implied move on this Benzinga-selected list. Even with the tightest range, that still represents $6.69 billion of market value at stake given Airbnb’s $99.4 billion market cap.
Airbnb runs the world’s largest alternative-accommodations marketplace, with a platform that spans boutique hotels, experiences and more than 9 million active accommodation listings. The stock carries a Buy consensus rating; the stock is trading below the 180-day average analyst price forecast. Recent analyst activity has been mixed in tone: in November, UBS reiterated its Neutral rating and raised its price target, while in October Oppenheimer reiterated its Outperform rating and raised its price target.
Shares have rallied in 2026, up 25.5% year-to-date and trading 13.7% above the 200-day moving average. The stock is also sitting about 51% above the 52-week low of $110.81 heading into the print.
8. DraftKings | Mkt Cap: $11B | Implied Move: 8.73%
DraftKings Inc. (NASDAQ:DKNG) reports third quarter of 2026 results, and expectations are still framed around losses as the company scales: consensus calls for a 39 cent per share loss on $1.40 billion in revenue. That compares with a 26 cent per share loss on $1.14 billion a year ago, putting the spotlight on whether growth is coming with improving efficiency.
Options traders are bracing for more action here than the marquee name, with Benzinga Pro showing an implied move of 8.73%. With a $10.9 billion market cap, that’s roughly $950 million of market value at stake around the report.
DraftKings moved from daily fantasy sports into online sports wagering and iGaming after the 2018 Supreme Court decision opened the door for state-by-state legalization, and quarterly results often hinge on hold rates and customer acquisition trends. The stock carries a Buy consensus rating; the share price sits well below the 180-day average analyst price forecast. In November, Bernstein reiterated its Outperform rating and cut its price target, while BTIG in October reiterated its Buy rating and raised its price target.
The stock has pulled back in 2026, down 38.5% year-to-date and trading 9.1% below the 200-day moving average. The shares sit about 41% below the 52-week high of $36.98.
7. BILL | Mkt Cap: $4.3B | Implied Move: 9.92%
BILL Holdings, Inc. (NYSE:BILL) reports first quarter of 2027 results, with consensus looking for 96 cents in earnings per share on $439.33 million in revenue. That would be up from 61 cents on $395.74 million in the prior-year period, keeping attention on whether small-business spend and payment volumes are tracking with expectations.
Benzinga Pro data show the options market is implying a 9.92% move, putting about $425 million of market value in play given BILL Holdings’ $4.28 billion market cap. For a mid-cap fintech platform, that’s a meaningful earnings window even without a double-digit-teens implied swing.
BILL Holdings sells an “intelligent finance platform” used by nearly half a million businesses and accountants to manage payments and cash flow, so guidance can matter as much as the quarter itself. The stock carries a Buy consensus rating; the 180-day average analyst price forecast is above where the stock trades. In October, Truist Securities reiterated its Hold rating and cut its price target.
The stock has declined in 2026, down 1.5% year-to-date, but it’s been trading 17.2% above the 200-day moving average since the 50-day moving average crossed above the 200-day in August. The shares sit about 59% above the 52-week low of $31.41.
6. IonQ | Mkt Cap: $13B | Implied Move: 11.59%
IonQ, Inc. (NYSE:IONQ) reports third quarter of 2026 results, and the setup is still about investment versus commercialization: analysts expect a 38 cent per share loss on $141.63 million in revenue. That compares with a 17 cent per share loss on $39.87 million a year ago, a jump in revenue that keeps the debate centered on how quickly quantum demand can scale.
According to Benzinga Pro, options are pricing in an 11.59% move, with $1.52 billion of market value at stake based on IonQ’s $13.1 billion market cap. That implied range signals traders are preparing for a sharp repricing if results or outlook surprise.
IonQ sells access to quantum computers with different qubit capacities while it continues R&D aimed at more powerful systems, so bookings, partnerships and forward commentary can drive the reaction. The stock carries a Buy consensus rating; shares trade well below the 180-day average analyst price forecast. Recent notes have leaned cautious on targets: in November, B. Riley Securities reiterated its Buy rating and cut its price target, and in October Rosenblatt reiterated its Buy rating and cut its price target.
The stock has pulled back in 2026, down 35.9% year-to-date and trading 27.0% below the 200-day moving average after the 50-day moving average crossed below the 200-day in August. The shares sit about 59% below the 52-week high of $73.65.
5. Cloudflare | Mkt Cap: $99B | Implied Move: 13.29%
Cloudflare, Inc. (NYSE:NET) reports third quarter of 2026 results, with consensus calling for 34 cents in earnings per share on $738.16 million in revenue. That would build on 27 cents on $562.03 million a year ago, keeping the focus on whether growth in security and performance services is sustaining at scale.
Benzinga Pro data show options are implying a 13.29% move, which is a large band for a mega-cap setup. With Cloudflare valued at $99.1 billion, that equates to $13.2 billion of market value at stake around earnings.
Cloudflare sells security and web performance software delivered through a distributed, serverless content delivery network, and the quarter can turn on enterprise demand and product mix. The stock carries a Buy consensus rating; the stock is trading below the 180-day average analyst price forecast. On the Street, recent positioning has been active: in November, JP Morgan upgraded the stock to Overweight, while Jefferies reiterated its Hold rating and cut its price target.
Shares have rallied in 2026, up 39.6% year-to-date and trading 12.2% above the 200-day moving average. Even after the run, the stock sits about 25% below the 52-week high of $370.35.
4. Hyperliquid Strategies | Mkt Cap: $2.1B | Implied Move: 14.44%
Hyperliquid Strategies Inc. (NASDAQ:PURR) reports first quarter of 2027 results, with consensus looking for 4 cents in earnings per share on $9.96 million in revenue. With limited prior-year comparables provided, the print is likely to be read more through the lens of strategy execution and balance-sheet positioning than simple year-over-year deltas.
Benzinga Pro shows options are pricing in a 14.44% move, putting about $301 million of market value at stake given Hyperliquid Strategies’ $2.09 billion market cap. That’s a sizable implied swing for a smaller-cap name where sentiment can shift quickly.
Hyperliquid Strategies is a digital asset treasury company focused on accumulating HYPE, the native token of Hyperliquid, a blockchain built around financial applications. The stock carries a Buy consensus rating; the share price sits well below the 180-day average analyst price forecast. In September, Compass Point initiated coverage with a Buy rating.
Shares have rallied in 2026, up 195.3% year-to-date and trading 36.6% above the 200-day moving average. The stock sits about 29% below the 52-week high of $14.76 into earnings.
3. Unusual Machines | Mkt Cap: $749M | Implied Move: 14.59%
Unusual Machines, Inc. (AMEX:UMAC) reports third quarter of 2026 results, and the consensus view implies a tougher profitability profile even as sales expand: analysts expect a 17 cent per share loss on $12.39 million in revenue. That compares with 5 cents in EPS on $2.13 million a year ago, setting up a quarter where investors may weigh growth investments against near-term margins.
Benzinga Pro data show the options market is implying a 14.59% move, or about $109 million of market value at stake based on Unusual Machines’ $749 million market cap. For a sub-$1 billion company, that’s a meaningful earnings reaction being priced in.
Unusual Machines makes and sells drone components and drones across a diversified brand portfolio through B2B channels and a curated retail presence, a niche where demand and product cadence can swing results. The stock carries a Buy consensus rating; the 180-day average analyst price forecast sits well above where the stock trades. In October, Piper Sandler reiterated its Overweight rating and cut its price target, while Needham reiterated its Buy rating.
Shares have rallied in 2026, up 7.7% year-to-date, but they’re still trading 21.7% below the 200-day moving average. The stock sits about 57% below the 52-week high of $34.93.
2. Opendoor | Mkt Cap: $1.7B | Implied Move: 18.42%
Opendoor Technologies Inc. (NASDAQ:OPEN) reports third quarter of 2026 results, with consensus calling for a 15 cent per share loss on $1.05 billion in revenue. That compares with an 8 cent per share loss on $915.00 million a year ago, leaving investors to parse whether the housing-market backdrop is translating into better unit economics.
Benzinga Pro data show options are pricing in an 18.42% move, one of the widest implied ranges on this Benzinga-selected list. With Opendoor Technologies valued at $1.74 billion, that’s about $320 million of market value at stake around the release.
Opendoor Technologies operates an end-to-end online platform that lets customers buy and sell homes digitally, a model that can be sensitive to liquidity, pricing spreads and turnover. The stock carries a Hold consensus rating; shares trade well below the 180-day average analyst price forecast. In October, UBS reiterated its Neutral rating and cut its price target.
The stock has pulled back in 2026, down 71.3% year-to-date and trading 56.7% below the 200-day moving average. Shares are within 4% of the 52-week low of $1.73 heading into earnings.
1. IREN | Mkt Cap: $9.4B | Implied Move: 18.45%
IREN Limited (NASDAQ:IREN) reports first quarter of 2027 results, and the consensus setup points to a sharp year-over-year swing: analysts expect a 67 cent per share loss on $223.19 million in revenue. That compares with $1.08 in EPS on $240.29 million a year ago, making the quarter a key checkpoint for how investors are underwriting the company’s earnings power.
Benzinga Pro data show options are implying an 18.45% move — the widest on this list — translating to $1.74 billion of market value at stake on IREN’s $9.41 billion market cap. That’s a large implied reaction for a company of this size, reflecting how quickly sentiment can shift around results and guidance.
IREN owns renewable-powered data centers in Canada and the U.S. that support bitcoin mining and AI cloud infrastructure, tying the story to both crypto economics and demand for compute. The stock carries a Buy consensus rating; the stock is trading well below the 180-day average analyst price forecast. Recent analyst actions have included B. Riley Securities reiterating its Buy rating and cutting its price target in October, alongside a September initiation from Rothschild & Co with a Neutral rating.
The stock has pulled back in 2026, down 42.7% year-to-date and trading 45.8% below the 200-day moving average after the 50-day moving average crossed below the 200-day in August. The shares sit about 69% below the 52-week high of $76.87.
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