Eli Lilly Could Swing $65.9 Billion After Earnings – Walt Disney (NYSE:DIS), Shopify (NASDAQ:SHOP), Eli L
Earnings are set to hit the tape in a tight window on Wednesday and the options market is already sketching out how much volatility traders are willing to pay for into the prints, according to Benzinga Pro.
This is a Benzinga-selected watchlist that runs from relatively muted setups to double-digit implied swings. The marquee name on the list is Eli Lilly & Co., but the biggest implied move is saved for the final section as the countdown builds toward rank 1.
7. The Walt Disney Company | Mkt Cap: $174B | Implied Move: 5.50%
Benzinga Pro data show options are pricing in a 5.50% move around the report. With Walt Disney valued at $174 billion, that implies about $9.6 billion of market value at stake as investors weigh the mix of entertainment, sports and experiences.
That blend is exactly why this print can matter: Walt Disney’s results tend to be read through multiple lenses at once, from franchise-driven content performance to the cadence of experiences. The stock carries a Buy consensus rating, and the stock is trading well below the 180-day average analyst price forecast. In July, Citigroup, UBS, and Barclays cut their price forecasts.
Walt Disney has pulled back in 2026, down 12.3% year-to-date and trading 5.9% below the 200-day moving average. The shares sit about 18% below the 52-week high of $119.78.
6. Uber Technologies, Inc. | Mkt Cap: $146B | Implied Move: 5.85%
Options traders are implying a 5.85% move, according to Benzinga Pro, putting roughly $8.55 billion of market value in play for Uber Technologies. For a platform business that touches mobility, delivery and logistics, the market often treats the quarter as a read on demand and take-rate durability across its network.
Uber Technologies has pulled back in 2026, down 13.6% year-to-date and trading 8.6% below the 200-day moving average. The shares sit about 30% below the 52-week high of $101.99.
5. Eli Lilly & Co. | Mkt Cap: $1T | Implied Move: 6.56%
According to Benzinga Pro, the options market is pricing a 6.56% move around the release. With Eli Lilly & sitting at a $1 trillion market cap, that’s roughly $65.9 billion of market value at stake — the largest dollar figure on this list even though the implied percentage move isn’t the widest.
Shares have rallied in 2026, up 3.8% year-to-date and trading 9.6% above the 200-day moving average. The shares sit about 80% above the 52-week low of $623.78.
4. Shopify | Mkt Cap: $152B | Implied Move: 10.81%
Benzinga Pro data show options are pricing in a 10.81% move, which translates to about $16.4 billion of market value at stake for Shopify Inc. Class A subordinate voting shares. That’s a sizable volatility tag for a large-cap software name, reflecting how quickly sentiment can shift on growth and margin narratives.
The stock carries a Buy consensus rating, and shares trade well below the 180-day average analyst price forecast. In July, Citigroup cut its price forecast while reiterating a Buy rating, while Rothschild & Co downgraded the stock to Neutral.
Shopify Inc. Class A subordinate voting shares has pulled back in 2026, down 25.6% year-to-date and trading 11.9% below the 200-day moving average. The shares sit about 36% below the 52-week high of $182.19.
3. Applovin Corp. | Mkt Cap: $138B | Implied Move: 11.38%
Options are pricing in an 11.38% move around earnings, per Benzinga Pro, putting about $15.7 billion of market value at stake. That implied swing stands out even more given Applovin’s slide into the print — it’s the weakest YTD name in this group, down 34.3% year-to-date.
Applovin has pulled back in 2026, down 34.3% year-to-date and trading 20.8% below the 200-day moving average. The shares sit about 45% below the 52-week high of $745.61.
2. Western Digital Corp. | Mkt Cap: $184B | Implied Move: 11.73%
Benzinga Pro shows the options market implying an 11.73% move, with about $21.6 billion of market value at stake. The setup is notable because Western Digital has been one of the most extended charts in this group — the stock is trading 62.3% above the 200-day moving average — so the earnings reaction can quickly test positioning.
Western Digital is a vertically integrated supplier of hard disk drives in a market that functions as a practical duopoly alongside Seagate. The stock carries a Buy consensus rating, and the share price sits below the 180-day average analyst price forecast. In July, Citigroup, Wells Fargo, and Susquehanna raised their price forecast.
Shares have rallied in 2026, up 180.9% year-to-date and trading 62.3% above the 200-day moving average. The shares sit about 32% below the 52-week high of $799.87.
1. Sandisk Corp. | Mkt Cap: $196B | Implied Move: 15.50%
According to Benzinga Pro, options are pricing in a 15.50% move — the widest implied swing on this list — with roughly $30.4 billion of market value at stake. That’s a big volatility premium for a $196 billion company, underscoring how much uncertainty traders see around the print and guidance.
Shares have rallied in 2026, up 368.0% year-to-date and trading 56.4% above the 200-day moving average. The shares sit about 44% below the 52-week high of $2354.39.
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