Under Armour Inc. Class A (NYSE: UAA) is positioned for a potential 7.1% price move when the company reports quarterly results on August 7, with the release scheduled to occur before trading begins, based on options market pricing compiled by Bloomberg.
Options-implied moves are calculated from current prices of near-term options and represent the market's expectation of how far a stock may move around a specific event. In Under Armour's case, that implied magnitude for the upcoming report is 7.1%.
The athletic apparel maker has frequently produced earnings-period price changes that exceeded the options-implied range. Over its last eight earnings announcements, the stock outpaced the implied move on six occasions.
Recent outcomes and the corresponding implied moves cited include:
- On May 12, shares fell 17.3% compared to an implied move of 10.2%.
- On February 6, the stock jumped 25.0% against an implied move of 10.0%.
- On November 6, 2025, shares declined 1.5% with an implied move of 12.0%.
- On August 8, 2025, the stock dropped 18.1% versus an implied move of 9.0%.
- On May 13, 2025, shares rose 6.3% against an implied move of 8.9%.
- On February 6, 2025, the stock fell 7.4% compared to an implied move of 4.7%.
- On November 7, 2024, shares climbed 28.4% versus an implied move of 8.6%.
- On August 8, 2024, the stock gained 10.6% against an implied move of 6.7%.
Those historical comparisons show a pattern in which actual stock reactions around earnings calls have at times been substantially larger than what option prices suggested. That track record is relevant to traders and investors who use options-implied moves to size positions or set hedges ahead of the report.
This report is based on options pricing compiled by Bloomberg and focuses solely on the market's implied move for the scheduled August 7 earnings release, which is set to occur before U.S. markets open.
Key takeaways
- Options imply a 7.1% move for Under Armour when earnings are released on August 7 before the open.
- The stock has exceeded options-implied moves in six of its last eight earnings reports, indicating recurring larger-than-expected reactions.
- These dynamics could affect participants in the consumer discretionary and apparel sectors who trade around earnings.
Risks and uncertainties
- Actual share movement may exceed the options-implied 7.1% range, increasing potential gains or losses for traders using the implied figure for position sizing - affecting equity investors and options strategies.
- Options-implied moves are market-derived expectations and may not fully capture the magnitude of real-world reactions during the earnings release - introducing uncertainty for hedging plans in the apparel and consumer discretionary sectors.