What move does the options market price into Zions Bancorporation, National Association's report?

Implied ±10.5%, either direction · provisional.

ZIONNasdaqNational Commercial Banks

Zions Bancorporation, National Association (ZION) earnings date, market-implied expected move, and options open interest by expiry

66.09

−0.29 · −0.43%

post 65.75 −0.52%

Closed15:59 ET

Open66.00Volume1.7MMkt cap$9.7BP/E8.36EPS7.86Div yield2.76%

Day65.75 – 66.740%52-wk47.47 – 72.8572%

ZION

Zions Bancorporation, National Association

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±10.5%implied · straddle

58.8772.63

spot 65.75exp Feb 19ATM strike 65ATM straddle 8.10IV 29%

Nov 3 closeprovisional

Expected move

Inputs

Next report

Jan 19

after close · in 76 days

est.Q4 FY26

Calendar

Next report

Last report

+2.30%

vs ±6.5% implied · ×0.35

shaded = implied · ▲▼ = realized

Oct 19 '26 · confirmed

Implied vs realized

Largest filed tie

—

Supply chain

13F top-10 QoQ

+2.17%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

601 managers

Top fund weight

0.28%

ZION weight · MDY

N-PORTJun 30 '26

5 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Zions Bancorporation, National Association (ZION) is expected to report on Jan 19 after close (estimated date).

Implied vs realized

2 reports

—≥ implied

Q2 FY26Jul 20 '26confirmed—▲+0.19%—

Oct 19 '26Oct 19 '26confirmed±6.5%▲+2.30%×0.35

quarterimplied−10%0+10%realized×

Oct '26±6.5%▲+2.30%×0.35

Q2 FY26—▲+0.19%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 5 expiries · Nov 3 close

1.98OI · 5 expiries · Nov 3 closeP/C open interest · Feb 19 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

3,9750%Nov 2016d0.537,5560%0.53

76+36%Dec 1844d0.44174+35%0.44

6,5080%Jan 1572d1.653,9530%1.65

report · Jan 19 · after close · est.

3,0660%Feb 19107d1,5500%

484+7%Apr 16163d0.627850%0.62

ExpiryPutsCallsP/C

Nov 2016d3,9750%7,5560%0.53

Dec 1844d76+36%174+35%0.44

Jan 1572d6,5080%3,9530%1.65

report · Jan 19 · after close · est.

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±10.5%

Funds 4

MDY±0.0%

REVS±0.0%

VIG±0.0%

VTI±0.0%

Dashed = straddleMethod 1 more fund Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

39.84%as filednet margin · revenue +33.92% QoQ · +35.68% YoY

Revenue$1.1B+33.92%

Pre-tax income$583M+98.30%

Net income$453M39.84%+94.42%

Tax$130M+113.11%

Source: SEC filings · standardized · QE Jun 30 '26 · bars = % of revenue

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 15:45 ET

Intraday

Event sensitivity

FOMC ×1.61· ±2.5% vs ±1.5% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±2.5%10 of 24×1.61

PPIproducer prices±1.4%7 of 10×0.93

GDPgross domestic product±1.1%11 of 19×0.70

CPROFcorporate profits±1.0%7 of 12×0.68

NFPjobs report±1.0%4 of 10×0.65

CPIconsumer prices±0.9%7 of 10×0.61

PCEpersonal income & outlays±0.9%10 of 19×0.56

Bar = avg |move| to ±3% · tick = ±1.5% avg day · ×base = |move| ÷ ±1.5% · min 6 releases

Earnings history

EPS 3.05 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Jul 20 '26 · confirmed	3.05	—
Q1 FY26	—	1.56	—
Q3 FY25	—	1.48	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod