ZS Moves

Zscaler ZS 203.88 -20.56 -9.16%

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Expected move

November 05, 2026 close · $204.81

Horizon	Expected move	Typical range	2 in 3 closes	9 in 10 closes
Next session	±3.5% ±$7.12	$197.68 – $211.93	$196.25 – $213.37	$189.53 – $220.08
2 sessions	±4.8% ±$9.91	$194.89 – $214.72	$192.80 – $216.81	$183.44 – $226.17
3 sessions	±6.1% ±$12.47	$192.33 – $217.28	$189.92 – $219.70	$178.24 – $231.37
1 week	±7.7% ±$15.85	$188.95 – $220.66	$185.41 – $224.20	$171.03 – $238.58
2 weeks	±10.9% ±$22.24	$182.56 – $227.05	$177.28 – $232.33	$157.33 – $252.28
3 weeks Earnings	±14.4% ±$29.45	$175.35 – $234.26	$168.35 – $241.26	$142.91 – $266.70
1 month Earnings	±16.9% ±$34.55	$170.26 – $239.36	$161.92 – $247.69	$132.14 – $277.47

Size, not direction. The 68% and 90% bands held 66–68% and 89–90% of closes in held-out years 2019–2026. ZS reports in 14 sessions; only the horizons marked Earnings include its jump. Draw the cone on the chart →

Volatility premium

Beta

The forecast is for the current session, which this plan does not open.

Earnings: priced against what happened

Average implied move

±10.87%

Average actual move

9.15%

Beyond the implied move

2 / 6

Median IV change

-47.80%

Reaction session	Implied	Actual	Used	ATM IV before → after
September 04, 2026	±14.43%	-4.50%	0.31×	100.9% → 49.2%
May 27, 2026	±13.62%	-31.52%	2.31×	—
September 03, 2025	±10.38%	-1.45%	0.14×	68.7% → 35.8%
May 30, 2025	±6.15%	+9.79%	1.59×	48.9% → 41.2%
March 06, 2025	±10.68%	+2.91%	0.27×	73.7% → 45.0%
December 03, 2024	±9.95%	-4.73%	0.48×	74.9% → 35.0%

Reconstructed from archived mid quotes; the straddle covers its expiration, not only the reaction session. These are not option returns. Method and missing reports →