What is VSXY's expected move for earnings?

The expected move is what the at-the-money options in the expiry containing the report imply the stock will move. This page publishes the move implied before each of VSXY's past reports and the move that actually followed. The figure for an upcoming report is on the forward board.

How is front-month IV crush different from IV30 crush?

Front-month crush measures the at-the-money implied volatility of the expiry that actually contains the earnings report, from the afternoon before to the session after. A 30-day constant-maturity measure blends that expiry with expiries that hold no event, so it consistently reports a shallower collapse.

Why measure the earnings move at 10:00 instead of the close?

Close-to-close prices an exit at 16:00 the day after the report. A position is usually closed near the open, so this page shows two realized moves for each report: C2C, the move to the next close, and By 10:00, the move to 10:00 the next morning.

CompaniesVSXYVictoria's SecretWatch

VSXY earnings: an expected move of 13.1%, an actual move of 10.8%.Averages over its last twelve reports. Here are all 14 reports.

Every Victoria's Secret earnings report since May 2023: the expected move the options priced the day before, how far the stock moved by the close and by 10:00 the next morning, and the IV crush afterwards, how far implied volatility fell. We read option prices from real quotes at 15:46 ET. Definitions on the methodology page.

Next reportThu 3Dec · BMO25 days out

Expected move13.1%the day before each of the last twelve reports

Actual move10.8%to the next close over the last twelve · 10.1% by 10:00

Past the price3of 12closes further than the options priced

On record14reportsevery report since May 2023

Median IV crush−36%over the last twelve reports · 15:46 ET

Next report · before the open · 25 days out

VSXY’s expected move for Thu 3 Dec

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VSXY · the Sep 3 ’26 report, split and ranked

The options price an earnings move as one number. We take out the drift the stock would have had anyway, then rank what is left, the report’s own part, against VSXY’s earlier reports. Both were fixed at 15:46 ET the day before, and the history below does the same for every report.

1 · Split

17.9% quoted, 15.2% of it the report

The options ran eleven trading sessions, so the quote also carries eleven days of the drift VSXY has anyway: 9.4%. The two combine as squares, not sums, so 15.2 and 9.4 give 17.9. The report is 72% of that expiry’s risk.

§3 Splitting the move

2 · Rank

Higher than ten of its last twelve

We rank only the report’s part, and only against VSXY’s own earlier reports, so a jumpy stock does not read rich for being jumpy. 15.2% is the 83rd percentile: rich for VSXY.

§5 Richness

3 · What happened

Moved 13.2%, inside the 15.2%

−13.2% by the next close, −13.4% by 10:00 the next morning. The rank compares the price with VSXY’s past and does not forecast the move.

§1 Timing and samples

ReportSep 3 ’26Compared withtwelve earlier reportsRank83rd percentile · richHow the rank works

VSXY · what the last twelve reports show

The charts read oldest to newest, left to right.priced moveclosed inside itclosed past itfall in implied volatility

Inside or past

Inside its priced move after nine of twelve

Past it: Nov 2023 +14.3%, Mar 2024 −29.7% and Dec 2025 +18.0%.

Columns C2C, Priced in the table below

The biggest

−29.7% after the Mar 2024 report

The options had priced 17.6%.

Columns C2C, Priced in the table below

Implied volatility

Fell after every one, by 22% to 55%

Median fall 36%, at the strike nearest the price, day before to day after.

Columns Crush · ATM in the table below

The priced move

Held steady: 13.5% over the last four

From 12.9% over the eight before. The report’s own part of the move, with the ordinary drift taken out.

Columns Priced in the table below

Reportsthe last twelve, settledWrittenfrom the numbers on this pageHow each one is measured

VSXY · earnings history: expected move vs actual move, all 14

CSV ↓

Every VSXY earnings report: expected move, actual move and IV crush
Report	Report’s partPriced	Rank	RealizedC2C	By 10:00	CrushATM	As-sold	Open	ForecastPred.	Error
Sep 3 ’26BMO	±15.2%	rich83	−13.2%	−13.4%	−47%	−47%	−39%	−43%	−4pt
Jun 2 ’26BMOnot measured	±12.7%	—	—	+47.7%	—	—	−8%	−27%	—
Mar 5 ’26BMO	±13.8%	≈73	−12.2%	−12.2%	−24%	−26%	−24%	—	—
Dec 5 ’25BMO	±11.6%	≈30	+18.0%	+16.5%	−35%	−28%	−33%	—	—
Aug 28 ’25BMO	±13.5%	≈67	−0.5%	+5.3%	−30%	−30%	−22%	—	—
Jun 11 ’25BMO	±11.2%	25	−5.4%	−0.5%	−42%	−41%	−36%	−41%	−1pt
Mar 5 ’25AMC	±16.5%	—	−8.2%	−9.1%	−33%	−35%	−36%	−42%	+9pt
Dec 5 ’24AMC	±12.7%	—	+11.6%	+8.8%	−38%	−37%	−35%	−36%	−2pt
Aug 28 ’24AMC	±9.2%	—	−3.7%	−5.8%	−22%	−22%	−25%	−26%	+4pt
Jun 5 ’24AMC	±12.9%	—	−6.5%	−2.7%	−46%	−43%	−38%	−40%	−6pt
Mar 6 ’24AMC	±17.6%	—	−29.7%	−28.8%	−55%	—	−37%	−57%	+1pt
Nov 29 ’23AMC	±12.1%	—	+14.3%	+14.2%	−36%	−34%	−32%	−32%	−5pt
Aug 30 ’23AMC	±10.7%	—	+6.9%	+3.9%	−34%	−25%	−21%	−31%	−3pt
May 31 ’23AMC	±14.7%	—	−8.7%	−9.5%	−40%	−41%	−34%	−38%	−2pt
All · 14	±13.2% avg	5 ranked	10.7% avg abs	12.7% avg abs	−36% median	−35% median	−34% median	−38% median	3.7pt avg abs

What the columns mean6 groups · 10 columns

Report’s part: The report’s share of what options priced at 15:46 ET the day before, taken from two or more expiries.; ColumnsPriced
Rank: Where the report’s part sits among VSXY’s own earlier reports, up to twelve, from 0 to 100: 83 on Sep 3 ’26 means it was priced higher than 10 of the 12 before it. Rich and cheap mark the top and bottom of that range. It needs eight earlier reports with a 10:00 move, so the oldest rows have none. ≈ marks a rank whose report’s part was uncertain: read it as roughly there, not exactly.; ColumnsRank
Realized: C2C is the move to the next close; By 10:00, the move to 10:00 the next morning.; ColumnsC2CBy 10:00
Chart: The grey band is what the options priced, the dark mark where the stock closed, the bar where it stood at 10:00, on a ±25% scale.; ColumnsPriced · realized · ±25%
Crush: How far implied volatility fell in the report’s expiry, from 15:46 ET the day before to the day after: at the new strike ATM and at the old one As-sold. Open reads it from the option’s 10:00 quotes the next morning, and is blank where there was none.; ColumnsATMAs-soldOpen
Forecast: Pred. is the crush we published the day before. VSXY is not in the public record, which covers only companies liquid enough for the split to be trusted. Error is what happened minus the forecast, in points of the crush.; ColumnsPred.Error

14 reports on record, 13 measured. The stock closed past the priced move on 3 of 13 and was past it at 10:00 the next morning on 4 of 14. All 11 forecasts were rebuilt from history rather than published the day before, and all are graded here. VSXY is not in the public record, which covers only companies liquid enough for the split to be trusted. A dash is a number we do not have, not a zero; a row marked not measured was never settled and will not be. ≈ in Rank marks a report whose part was uncertain: ranked here against the company’s own past, but the board does not sort on it.

Reports14Open crush14 of 14Measured15:46 ET · day before → day afterEvery company’s full history is public

how these numbers are measured

A day's price path that ends near where it started: a short graphite bracket for the move from close to close, beside a much taller oxblood one for how far it swung in between

to the closein between

Two ways to measure the move

Closing prices miss the open

If you hold through the report you meet the open, not the close. We publish both: the move from one close to the next, and where the stock stood at 10:00 the next morning.

VSXY Jun 2025: −5.4% by the close, −0.5% at 10:00.

§1 Timing and samples

One beam enters a prism and two leave, one oxblood and one slate

the reportordinary

The report’s own share of it

Option prices cover more than the report

An expiry a week out also carries a week of ordinary movement. Comparing two expiries that both contain the report separates the two, and the report's share is the priced move.

VSXY Sep 2026: 17.9% from the options → 15.2% for the report, 72% of that expiry's risk.

§3 Splitting the move

Five expiries on a line; an oxblood beam strikes only the first, while a faint bracket spans all five

the one that movedwhat 30 days average

The collapse in volatility

We measure the expiry that moved

A 30-day average mixes the expiry holding the report with expiries it never reaches, so it reads shallower than what you held. We read the expiry that holds the report, the day before and the day after, at both strikes.

VSXY Sep 2026: −47% new strike, −47% old strike, −39% at 10:00 the next morning.

§4 The collapse, three ways

VSXY · IV crush at the report’s expiry vs the 30-day average

One expiry contains the report. The 30-day figure is an average that also covers expiries the report never reaches. Every column below leans the same way, so the gap shows on each report, not only in the median.

Collapse at the report’s expiry−36%median, whole column

Seen by the 30-day number−24%median, the part it sees

Missed by the 30-day number12pton 13 of 13 reports

Sep 3 ’26Mar 5 ’26Dec 5 ’25Aug 28 ’25Jun 11 ’25Mar 5 ’25Dec 5 ’24Aug 28 ’24Jun 5 ’24Mar 6 ’24Nov 29 ’23Aug 30 ’23May 31 ’23

VSXY · the expected move, where it closed, where it stood at 10:00

Each row is one report: the band is what the options priced, the mark is where the stock closed, and the bar runs to where it stood at 10:00 the next morning. On 1 of 13 reports with both, the close and 10:00 pointed opposite ways.

Where the 10:00 number is missing, the cell stays blank instead of borrowing the close, and the data-quality grid below says why. How far apart the two run differs from company to company; this window measures it for VSXY.

Median move to the next close8.7%past the price on 3 of 13

Median move by 10:00 the next morning9.1%past the price on 3 of 13

Sep 3 ’26−13.2−13.4

Mar 5 ’26−12.2−12.2

Dec 5 ’25+18.0+16.5

Aug 28 ’25−0.5+5.3

Jun 11 ’25−5.4−0.5

Mar 5 ’25−8.2−9.1

Dec 5 ’24+11.6+8.8

Aug 28 ’24−3.7−5.8

Jun 5 ’24−6.5−2.7

Mar 6 ’24−29.7−28.8

Nov 29 ’23+14.3+14.2

Aug 30 ’23+6.9+3.9

May 31 ’23−8.7−9.5

−25−12.50+12.5+25

VSXY · the term structure the day before each report

The split reads the report out of the gap between the two lines. The small figure under each date is how many trading sessions the expiry holding the report had left. A shorter one carries the same report over fewer days, so it reads higher without the report being priced any bigger.

Drawn for the last twelve reports, like the other figures on this page. It is history; the current curve is on the board.

the expiry holding the reportthe next expirythe gap the split readsimplied vol, %

VSXY · data quality, report by report

Counted over the 14 reports shown. One marker is on every report (macro event in the window), so it describes VSXY rather than any one quarter. The other eight are on between one and six reports. One of the 14 has not settled. It already carries the markers set the day before; a marker that depends on what happened after the report is counted over the 13 that have, and shows as an outline on the one that has not.

Every marker on the reports above is counted here, one cell per report, newest first as in the history table.

Sep 3
’26Jun 2
’26Mar 5
’26Dec 5
’25Aug 28
’25Jun 11
’25Mar 5
’25Dec 5
’24Aug 28
’24Jun 5
’24Mar 6
’24Nov 29
’23Aug 30
’23May 31
’23reports

WithheldThe cell is blank on the marked reports.

no prediction3 of 14

no T+1 chain1 of 14

Shown, kept off the board’s sortPublished, but it does not rank this name on the board.

wide decomposition band3 of 14

thin trade at the cover2 of 13

Shown as measuredNotes on how a number was measured. Each says what it touches.

macro event in the window14 of 14

gapped past the wings6 of 14

next-morning price from quotes4 of 13

an anchor was refused2 of 13

path incomplete1 of 14

What each marker means9 markers · 2 withhold a number

Withheld

no prediction3 of 14crush_pred_unavailable: No predicted crush could be frozen for this print, so it has no entry in the scored accuracy record. Never filled in afterwards — a prediction written after the outcome is not one.; Lands inPred.Error
no T+1 chain1 of 14post_unavailable: The option chain on the session after the print has no contracts near the money within 75 days, on a date long since published. No crush exists to measure. A property of the data, not an outage.; Lands inEvery crush column

Shown, kept off the board’s sort

wide decomposition band3 of 14decomp_low_confidence: The decomposed implied move has a wide confidence band on this row. The number is published and kept off the board’s sort, because a sort cannot express an error bar; where its rank is shown, it is marked ≈.; Lands inPriced move
thin trade at the cover2 of 13open_crush_thin_trade: Too few prints stand behind the 10:00 anchor for it to be a reliable price. The crush is shown and kept out of the rankings.; Lands inOpen

Shown as measured

macro event in the windowevery reportdecomp_macro_window: A scheduled macro event (a CPI print, an FOMC day) falls inside the decomposition window, so a little of the volatility attributed to the event belongs to the calendar instead.; Lands inPriced move
gapped past the wings6 of 14open_crush_gap_otm: The stock gapped far enough that the contract sold at T−1 is no longer near the money at the cover, so the as-sold crush there is partly a move along the smile rather than a collapse in volatility.; Lands inOpen
next-morning price from quotes4 of 13open_crush_restruck_quoted: The option at the 10:00 strike did not trade on both sides between 09:55 and 10:05, so the next-morning volatility was read from the midpoint of its quoted bid and ask over the same ten minutes. Used only when both sides were quoted and the quote was less than 50% wide.; Lands inOpen
an anchor was refused2 of 13open_crush_anchor_unreliable: At least one observation behind the 10:00 crush was rejected: a price below intrinsic, a crossed quote, or a solve that did not converge. The number here was measured from the anchors that did invert, and is scored normally.; Lands inOpen
path incomplete1 of 14path_incomplete: The T+2 or T+3 leg of the post-print path is missing, so the multi-day drift columns stop short of where a held position would.; Lands inT+2T+3on the ticker page, not this one

VSXY · companies whose reports traded alike

Each company’s last twelve reports.average priced movemoved less than pricedmoved moremedian fall in implied volatilityVSXY’s values

Six companies whose reports traded like VSXY’s

The closest on all three numbers at the top of each company page. It compares how the reports traded, not the businesses.

Average priced and movedMedian crush
VSXYthis pagepriced 13.1% · moved 10.8%−36%
FNFabrinetpriced 12.9% · moved 11.2%−35%
GLBEGlobal-E Onlinepriced 13.3% · moved 12.0%−35%
GMEGameStoppriced 13.2% · moved 10.5%−34%
CALYCallaway Golfpriced 12.0% · moved 10.0%−36%
BBBlackBerrypriced 12.2% · moved 10.5%−38%
SMTCSemtechpriced 14.2% · moved 10.3%−34%

Where they sit. A close-up of VSXY’s part of the field; the small map in its corner shows where that sits among all 728 companies with a page and all three numbers. Grey dots are other companies here. Below the dashed line, a stock moved less than its options priced.

Figureseach company’s last twelve reportsCompared onpriced, moved, crush

the board · the last fortnight, then the next 14 days

PricedRichness · own historyRatioOutcome

Reported · the fortnight to 5 Nov · settled, free
1COPConocoPhillipsNov 5BMO3.4%1001.79inside
2EOGEOG ResourcesNov 5AMC4.2%1001.58inside
3GEOGeo GroupNov 5BMO9.8%1001.31inside
4GHGuardant HealthNov 5AMC19.1%1002.10inside
5KTOSKratos Defense & Security SolutionsNov 5AMC11.9%1001.59inside
Next 14 days · 523 names · symbol and date free
·AAONMon 9AMC—
·ABCLMon 9AMC—
·ACHRMon 9AMC—
·AIOTMon 9BMO—
11 of 523 shown · the next 14 days

The ranked columns are the board

Symbol and date are free for all 523 names. A subscription fills in the three columns held back on every locked row: the priced move, its richness against that name's own last twelve reports, and the ratio between them.

$29/mo or $290/yr Get the board two months free on the year

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Open the board

A free account adds today’s board rows and the full 14-day calendar, without these three columns.

Today's board rows and the full forward calendar are on your board.
·ALTGMon 9AMC—
·AMCXMon 9AMC—
·AMGMon 9BMO—
·AMPYMon 9AMC—
·AMRCMon 9AMC—
·ANNXMon 9BMO—
·APEIMon 9AMC—

The board: the last fortnight’s settled reports, then the next 14 days
#	Name	Report	Priced move	Richness · own history	Ratio	Outcome
Reported · the fortnight to 5 Nov · settled, free
1	COPConocoPhillips	Nov 5BMO	3.4%	100	1.79	inside
2	EOGEOG Resources	Nov 5AMC	4.2%	100	1.58	inside
3	GEOGeo Group	Nov 5BMO	9.8%	100	1.31	inside
4	GHGuardant Health	Nov 5AMC	19.1%	100	2.10	inside
5	KTOSKratos Defense & Security Solutions	Nov 5AMC	11.9%	100	1.59	inside
Next 14 days · 523 names · symbol and date free
·	AAON	Mon 9AMC				—
·	ABCL	Mon 9AMC				—
·	ACHR	Mon 9AMC				—
·	AIOT	Mon 9BMO				—
12 of 523 shown · the next 14 days The ranked columns are the board Symbol and date are free for all 523 names. A subscription fills in the three columns held back on every locked row: the priced move, its richness against that name's own last twelve reports, and the ratio between them. $29/mo or $290/yr Get the board two months free on the year $29/mo or $290/yr Get the board two months free on the year Open the board A free account adds today’s board rows and the full 14-day calendar, without these three columns. Today's board rows and the full forward calendar are on your board.
·	ALTG	Mon 9AMC				—
·	AMCX	Mon 9AMC				—
·	AMG	Mon 9BMO				—
·	AMPY	Mon 9AMC				—
·	AMRC	Mon 9AMC				—
·	ANNX	Mon 9BMO				—
·	APEI	Mon 9AMC				—
·	APPS	Mon 9AMC				—

on the board — not known yet Ranked by richness against each name's own last twelve reports. Ratio is the priced move over that name’s typical actual move; inside: the stock stayed within the priced move.

How to read this page

History table: Its columns are explained right under it: What the columns mean ↑
Coverage: VSXY’s 14 reports. The board rows are the fortnight’s five richest settled reports, then the first of the next 523 names.
Ratio: The priced move over the name’s typical actual move.
Markers: Notes on a report’s data, counted in the data-quality grid with what each one touches.

A number looks wrong? Tell us what you expected and we’ll check it.Report a data issue

History is a record, not a forecast. Derived values only; no option prices are shown. Nothing here is investment advice.