Prepare before earnings
BW · Babcock & Wilcox Enterprises, Inc. Common Stock
Reports in 9 days · Nov 9, 2026 · After close (AMC) · $4.27
Quote as of Oct 30, 2026 · Entry today: T−9 · New York calendar dates
Prepare your earnings trade
T−9 entry · compare strategies
Compare returns and downside before choosing a strategy. Returns include stored modeled fill costs and commissions.
Before earnings / earlier expiration: the stored exit can be earlier when the contracts expire.
Today is T−9 (Oct 31, 2026). Every entry day uses its own historical contracts and quotes. Latest quote date: Oct 30, 2026 (T−10).
Aug 4, 2015 – Aug 10, 2026 · percentage return on modeled maximum loss · dollar P&L per one-lot structure. Samples can differ between strategies.
Current trade examples use today's verified event and latest completed-session quotes. Changing the historical entry day does not change the displayed contracts. Exit controls also check whether the legs can support that exit.
| Strategy | Average return | Median return | Historical win rate | Earnings tested | Average P&L | Worst observed | Current trade example |
|---|---|---|---|---|---|---|---|
| No entry trading session | — | — | — | — | — | — | Current trade example · T−9 Unavailable · The chain cannot form a valid structure with the required strikes and expirations. Last quote session: Oct 30, 2026 |
| No entry trading session | — | — | — | — | — | — | Current trade example · T−9 Unavailable · The chain cannot form a valid structure with the required strikes and expirations. Last quote session: Oct 30, 2026 |
| -25.1%2 valid ROI tests | -25.1% | 50.0%1 / 2 profitable | 2 earnings2 valid tests | -$28.85 | -52.3%-$60.10 | Current trade example · T−9 Unavailable · No matching contracts are available under this strategy's selection rules. Last quote session: Oct 30, 2026 | |
| No entry trading session | — | — | — | — | — | — | Current trade example · T−9 Unavailable · The chain cannot form a valid structure with the required strikes and expirations. Last quote session: Oct 30, 2026 |
| Near-term expiry · nearest 0.90 delta | -12.7%16 valid ROI tests | -5.9% | 43.8%7 / 16 profitable | 16 earnings16 valid tests | -$12.86 | -79.8%-$88.80 | Current trade example · T−9
Quote session: Oct 30, 2026 · T−10 at quote Contracts re-evaluated for this quote session; no comparable earlier example is available. Daily preparation example for a new entry. Refreshed while earnings are 1–28 days away. Midpoint estimate before fees; verify prices with your broker. An update does not instruct existing holders to roll. |
| -15.4%22 valid ROI tests | -9.4% | 22.7%5 / 22 profitable | 22 earnings22 valid tests | -$27.03 | -68.3%-$247.60 | Current trade example · T−9
Quote session: Oct 30, 2026 · T−10 at quote Contracts re-evaluated for this quote session; no comparable earlier example is available. Daily preparation example for a new entry. Refreshed while earnings are 1–28 days away. Midpoint estimate before fees; verify prices with your broker. An update does not instruct existing holders to roll. | |
| -21.2%15 valid ROI tests | -31.1% | 26.7%4 / 15 profitable | 15 earnings15 valid tests | -$11.10 | -93.9%-$75.10 | Current trade example · T−9
Quote session: Oct 30, 2026 · T−10 at quote Contracts re-evaluated for this quote session; no comparable earlier example is available. Daily preparation example for a new entry. Refreshed while earnings are 1–28 days away. Midpoint estimate before fees; verify prices with your broker. An update does not instruct existing holders to roll. | |
| Unlimited risk · ROI unavailable | Unlimited risk · ROI unavailable | 63.6%14 / 22 profitable | 22 earnings22 valid tests | $21.83 | Unlimited risk · ROI unavailable-$15.10 | Current trade example · T−9 Unavailable · Naked short strategies remain research-only. Margin and assignment requirements are not modeled. Last quote session: Oct 30, 2026 | |
| Unlimited risk · ROI unavailable | Unlimited risk · ROI unavailable | 53.3%8 / 15 profitable | 15 earnings15 valid tests | $5.90 | Unlimited risk · ROI unavailable-$42.60 | Current trade example · T−9 Unavailable · Naked short strategies remain research-only. Margin and assignment requirements are not modeled. Last quote session: Oct 30, 2026 |
Historical win rate counts after-cost P&L above zero. Break-even tests stay in the denominator; missing tests do not. It is a historical frequency, not a forecast probability.
Execution-cost scenario
T−9 entry · before earnings / earlier expiration. The additional cost is a scenario, not an observed fill. Current quotes, liquidity and per-contract risk must be checked before sizing; historical averages do not create option legs or orders.
Explore all entry days · T−28 through T−1
| Strategy | T−28 | T−27 | T−26 | T−25 | T−24 | T−23 | T−22 | T−21 | T−20 | T−19 | T−18 | T−17 | T−16 | T−15 | T−14 | T−13 | T−12 | T−11 | T−10 | T−9 | T−8 | T−7 | T−6 | T−5 | T−4 | T−3 | T−2 | T−1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bear Call Spread | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No later pre-earnings close | |||||||||||||||||||
| Bull Put Spread | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No later pre-earnings close | |||||||||||||||||||
| Calendar | No entry trading session | No entry trading session | No entry trading session | No later pre-earnings close | ||||||||||||||||||||||||
| Iron Condor | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No entry trading session | No later pre-earnings close | |||||||||||||||||||
| Long Call DITM (0.90 Delta) | No later pre-earnings close | |||||||||||||||||||||||||||
| Long Straddle | No later pre-earnings close | |||||||||||||||||||||||||||
| Long Strangle | No later pre-earnings close | |||||||||||||||||||||||||||
| Short Straddle | No later pre-earnings close | |||||||||||||||||||||||||||
| Short Strangle | No later pre-earnings close |
Each column is a separate historical trade. Missing quotes, weekends and holidays are not zero returns. Compare event counts before interpreting differences between entry days.
Return basis, costs and coverage
Long-option returns use premium at risk; defined-risk structures use modeled maximum loss. Naked shorts have no maximum-loss ROI; broker margin, early assignment and resulting stock exposure are not modeled. These percentages are not account returns or annualized returns.
Stored fills and commissions are modeled. DITM uses the existing near-term call nearest +0.90 delta, minimum +0.80 delta, earliest listed expiry after the earnings reaction and no more than 60 entry DTE.
Statistics use exact aggregates across all stored cohort outcomes; sampled trade details never supply these totals. Includes tests with failed or unknown entry-filter status; this does not establish live entry eligibility.
Recorded processing is complete for this ticker's requested scope. This does not mean every quote is available or the full stock universe is complete.
113 recorded missing-test entries for the selected day and exit; absence of a recorded gap does not prove that a test was performed.
Daily pricing context
Expensive versus prior earnings cycles
Observed quote 2026-10-30, T−10. 14 completed events at this exact offset.
- Latest observed ATM IV
- 120.1% Quote Oct 30, 2026
- Historical median IV
- 95.9% 14 events · T−10
- IV versus matched history
- 25.2% Near-term ATM, same earnings offset
- Implied move to option expiry
- 22.2% ATM straddle estimate at the displayed quote date
A cheap IV label alone does not establish a profitable trade. Daily quotes are updated after a completed market session; confirm execution prices with your broker.
Inspect IV curve and option maturities
Provider-supplied IV is used as received: historical and daily observations. Providers may use different calculation methods and quote times.
Updated Oct 30, 2026, 4:00 PM EDT
Loading graph — the exact table is available below.
Event / reference markers
- Earnings: 0
Exact data table
Pre-earnings IV curve · full stored dataset, independent of graph range/toggles
| Observation | Current-cycle IV (%) | Historical median (%) | Historical p25 (%) | Historical p75 (%) | Context | Updated |
|---|---|---|---|---|---|---|
| Unavailable | 90.9175% | 66.9387% | 117.7175% | 39 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 82.5975% | 67.6131% | 111.7369% | 38 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 88.14% | 63.6688% | 117.6495% | 27 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 90.0413% | 60.5969% | 123.7452% | 18 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 88.7925% | 78.205% | 108.2219% | 14 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 79.0713% | 70.1625% | 118.8919% | 16 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 89.51% | 68.5625% | 127.0237% | 31 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 85.6025% | 56.505% | 111.585% | 35 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 88.1437% | 66.6744% | 122.3959% | 36 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 100.32% | 56.8975% | 126.8183% | 27 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 68.5925% | 50.1413% | 117.2523% | 19 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 106.2225% | 68.9025% | 129.0755% | 17 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 81.7938% | 73.6875% | 125.5088% | 18 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 82.7113% | 62.4694% | 110.2525% | 30 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 87.5475% | 64.96% | 127.995% | 37 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 102.56% | 72.5869% | 130.77% | 38 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 116.2925% | 63.2162% | 140.7862% | 27 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 84.4287% | 59.5106% | 124.54% | 18 historical events; absent values remain unavailable. No current-cycle IV observation is stored for this checkpoint. | Updated Oct 30, 2026, 4:00 PM EDT | |
| 120.07% | 95.8762% | 75.7531% | 122.7006% | 14 historical events; absent values remain unavailable. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 112.9% | 82.41% | 127.22% | 17 historical events; absent values remain unavailable. This checkpoint is later than the latest quote date; current-cycle IV has not been observed yet. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 84.9338% | 73.4344% | 105.8137% | 30 historical events; absent values remain unavailable. This checkpoint is later than the latest quote date; current-cycle IV has not been observed yet. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 88.645% | 71.2456% | 117.4906% | 36 historical events; absent values remain unavailable. This checkpoint is later than the latest quote date; current-cycle IV has not been observed yet. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 88.9025% | 66.505% | 121.55% | 37 historical events; absent values remain unavailable. This checkpoint is later than the latest quote date; current-cycle IV has not been observed yet. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 88.3588% | 64.855% | 143.9212% | 26 historical events; absent values remain unavailable. This checkpoint is later than the latest quote date; current-cycle IV has not been observed yet. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 86.36% | 58.4494% | 118.4656% | 18 historical events; absent values remain unavailable. This checkpoint is later than the latest quote date; current-cycle IV has not been observed yet. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 92.5025% | 84.0662% | 133.2615% | 16 historical events; absent values remain unavailable. This checkpoint is later than the latest quote date; current-cycle IV has not been observed yet. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 106.47% | 77.3625% | 152.225% | 17 historical events; absent values remain unavailable. This checkpoint is later than the latest quote date; current-cycle IV has not been observed yet. | Updated Oct 30, 2026, 4:00 PM EDT | |
| Unavailable | 103.8825% | 83.3325% | 138.9288% | 31 historical events; absent values remain unavailable. This checkpoint is later than the latest quote date; current-cycle IV has not been observed yet. | Updated Oct 30, 2026, 4:00 PM EDT |
Updated Oct 30, 2026, 4:00 PM EDT
Loading graph — the exact table is available below.
Event / reference markers
- Earnings expiry 2026-11-20: 21
Exact data table
Volatility term structure · full stored dataset, independent of graph range/toggles
| Observation | ATM IV (%) | Context | Updated |
|---|---|---|---|
| 120.07% | 21 DTE · ATM strike $4.00 · Contains earnings | Updated Oct 30, 2026, 4:00 PM EDT | |
| 110.23% | 49 DTE · ATM strike $4.00 · No stored earnings marker | Updated Oct 30, 2026, 4:00 PM EDT | |
| 95.855% | 77 DTE · ATM strike $4.00 · No stored earnings marker | Updated Oct 30, 2026, 4:00 PM EDT |
Prepare your trade
Current pricing and risk
Review the contracts, capital at risk and intended exit before choosing an entry.
Quotes as of Oct 30, 2026 · daily preparation data. Confirm executable prices with your broker. The fee allowance is your assumption.
- Net entry / one lot
- $0.00 credit
- Maximum loss with allowance
- $0.00 Defined expiration loss plus your allowance
- Budget ceiling
- Not calculated A maximum bound, not a recommended allocation
- Breakevens before allowance
- $0.00 / $5.00 / $15.00
| Side / quantity | Option | Expiry / DTE | Modeled price per share |
|---|---|---|---|
| SELL × 1 | CALL 5 | 2026-11-20 · 21 days at quote | $0.2000 |
| BUY × 1 | CALL 5 | 2026-11-20 · 21 days at quote | $0.2000 |
Liquidity: poor. Missing margin, early assignment and exercise costs are not included. Historical returns above are separate from this expiration payoff.