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When does earnings season start?
Earnings season starts about two weeks after each quarter ends, when the big US banks report first. That puts the starts in mid-January, mid-April, mid-July and mid-October. The busiest weeks come a couple of weeks later.
The short answer
Earnings season starts about two weeks after each quarter ends. The big US banks report first, and thousands of companies follow over the next several weeks.
US companies close their books at the end of each quarter. Most use the normal calendar, so the quarters end on March 31, June 30, September 30 and December 31. Then they need a few weeks to count everything up.
| Quarter ends | Season usually starts | Busiest stretch |
|---|---|---|
| March 31 | Mid-April | Late April to early May |
| June 30 | Mid-July | Late July to early August |
| September 30 | Mid-October | Late October to early November |
| December 31 | Mid-January | Late January to early February |
So the season for the last three months of 2026 starts in mid-January 2027. For the other dates that move markets that year, see the full 2027 economic calendar.
Why the banks go first
The biggest US banks close their books fast and report early. Their numbers also say a lot about everyone else: how much people borrow, spend and pay back. So the first bank reports have become the unofficial start of the season.
After the banks, the pace picks up week by week. The middle of the season is when the most companies report on the same days.
Not everyone fits the pattern. Some companies run on their own fiscal year. Many big retailers close their year at the end of January, so their reports land weeks after the crowd. A company's "fourth quarter" isn't always October to December.
Why you can't trust a date you saw a month ago
Each company picks its own report date. Most announce it a few weeks ahead. Until then, websites show an estimate, often based on last year's date.
Estimates are often close. Sometimes they're off by a week or more. So check two things:
- Is the date confirmed? Look on the company's investor page or in your broker. Many brokers mark dates as confirmed or estimated.
- Before the open or after the close? Most companies report outside market hours. Either way, the stock can't react until the market reopens. When it does, it can Gap far from where it closed.
Why option sellers watch the calendar
An earnings report is the one night a stock is most likely to jump. Option prices know this. In the days before a report, the Implied volatility of the stock's options rises, so premiums look fat. After the report, it drops fast. That drop is called IV crush.
Fat premium before earnings isn't a gift. It's the market charging for a bigger risk. If you sell an option that runs through the report, you're the one taking that risk.
The rule I use in the wheel strategy: no earnings date inside the expiry unless you chose it on purpose. Our earnings date checker tells you if a report falls before your option expires. The full habit is in checking the earnings date before selling.
A worked example: the put that ran through earnings
This is a worked example (hypothetical, made-up company and round numbers).
Harbor Software trades at $80. You sell a 30-day put at the $75 strike and collect $1.50 a share, or $150. You didn't check the calendar. The company reports two weeks later.
The report disappoints. The stock opens at $62 and stays there to expiry. You buy 100 shares at $75 that are worth $62.
Now compare a put you could have sold instead: one that expired the day before the report, for less premium.
| Put through earnings | Put that ends before earnings | |
|---|---|---|
| Premium collected | $150 | $80 |
| Stock when your put ends | $62 | $79 |
| Shares you must buy | 100 at $75 | None |
| Loss on the shares | −$1,300 | $0 |
| Result | −$1,150 | +$80 |
The first trade lost $1,150: $1,300 on the shares, less the $150 premium. The second kept its $80 and was out before the drop.
The extra $70 of premium was the price of taking the earnings risk. Here the risk showed up. That's why the check comes first, every trade, not once a season.
If you end up holding shares after a drop like this, see what to do when earnings land inside your expiry.
How to find the dates for your stocks
- The company's investor page. It posts the date and time once it's set.
- Your broker. Most show the next earnings date on the stock's page or the option chain.
- Before every trade. Check the date when you sell, not once at the start of the season.
Dividends have their own dates to check too. See ex-dividend date vs record date.
Questions
When does earnings season start for the fourth quarter?
In mid-January, about two weeks after December 31. The big banks usually report first. The busiest weeks run from late January into early February.
How long does earnings season last?
Most large US companies report within about six weeks of the start. Smaller companies and those on their own fiscal year keep reporting after that. There's a quiet stretch before the next season begins.
Is it bad to sell options during earnings season?
The season itself isn't the problem. The specific stock's report date is. You can sell an option on a company that already reported, or one whose report falls after your expiry. Just check the date first.
Do companies report before or after the market opens?
Most do one or the other, outside the main session. Banks and many big companies report before the open. Lots of tech companies report after the close. The company's announcement says which.
Why did my option's price jump before earnings?
Traders expect a big move after the report, so they pay more for options. Implied volatility rises. After the report it usually falls quickly, which lowers option prices even if the stock barely moves.
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