Options pricing data compiled by Bloomberg suggests Victoria’s Secret & Co. (NYSE: VSCO) could see its share price move roughly 13% when the company issues its next quarterly results on June 2, before the market opens.
The 13% figure reflects the magnitude of movement priced into listed options ahead of the announcement. Such an implied move is a commonly used market gauge for how much investors expect a stock to swing on event-driven news like earnings.
Looking at the company’s recent earnings history, actual post-earnings moves have at times exceeded these options-implied estimates. In four of the last eight earnings reports, the stock’s realized move was larger than the magnitude suggested by options.
For example, the most recent report on March 5 produced a decline of 15.2% in the share price, which was greater than the 13% movement implied by options at that time. In another instance, December’s report produced a 22% rise in the stock, exceeding an implied move of 11.2%.
The data also show instances of outsized historical reactions: the largest negative swing occurred in March 2025, when shares fell 28.4% versus an implied move of 15.3%. Meanwhile, the biggest positive reaction came in December 2024, when the stock climbed 26.4% compared with an implied move of 5.9%.
These past results illustrate that actual market responses to Victoria’s Secret earnings have at times been materially larger than what options pricing had anticipated. For traders and investors, that gap between implied and realized moves underscores the potential for heightened volatility around the company’s scheduled report.
Data note: The implied move figure noted above comes from options data compiled by Bloomberg and applies to the earnings release set for June 2, before the market opens.