9 earnings setups · 1 flagged as asymmetric
Scanned S&P 500 earnings reports for May 26 through June 6, 2026. Nine names cleared the bar of ≥4 measurable historical quarters and a stable current implied-move quote on the bracketing weekly expiration. ULTA Beauty (June 2 AMC) ranked sixth by historical realized at 9.37% but was dropped from publication because a clean current straddle quote on the bracketing expiration could not be sourced from the snapshot tool or current options-market coverage.
Across the published nine, the options market is pricing earnings IV broadly RICH versus the 8-quarter realized average. IV vs HV gaps run from -1.94pp (AVGO) on the cheap side to +4.31pp (HPE) on the rich side. Only Broadcom (AVGO) crossed the -1.5pp asymmetry threshold, so one name is flagged rather than three. The dominant cross-name catalyst is the May 22 Friday AI-server rally — DELL +16.8%, HPQ +15.3%, HPE +10.6%, MRVL +3.0% — which both consumed directional drift and lifted weekly IV across the AI-hardware complex going into the reports. That dynamic is why HPE, MRVL, DLTR, and CRM are all priced rich to realized this cycle. AVGO is the contrarian: it sits at all-time highs, did not get the Friday lift, and the bracketing 6/5 expiration is pricing only 8.34% versus an 8-quarter realized average of 10.28% with 6 of 8 prints exceeding 8%.
AVGO
Broadcom IncIV is pricing an 8.34% move but AVGO has averaged 10.28% over its last 8 reports with 6 of 8 exceeding 8% (including +24.4% and -11.4% prints). The bracketing 6/5 expiration is the only name in our top-10 that prints meaningfully below realized — options consistently underprice this name's earnings vol.
AVGO earnings volatility is driven by custom-AI-silicon TAM disclosures (Google TPU, Meta MTIA, OpenAI ASIC), VMware integration economics, and hyperscaler capex guidance. The June print is where AVGO traditionally discloses next-fiscal-year AI revenue forecasts — historically the catalyst behind the >10% moves. Six of eight quarters above 8%, max 24.4%. Stock is consolidating near all-time highs and was not part of Friday's AI-hardware rally, leaving options unbid relative to peers. The straddle costs 8.34% — clean asymmetric setup if management discloses any change to the FY27 AI revenue trajectory.