Bath & Body Works, Inc. (BBWI) Expected Move
Expected move estimates the probable price range for a given period based on at-the-money options pricing. It reflects the market consensus for volatility over the selected timeframe.
Bath & Body Works, Inc. (BBWI) operates in the Consumer Cyclical sector, specifically the Specialty Retail industry, with a market capitalization near $3.77B, listed on NYSE, employing roughly 8,975 people, carrying a beta of 1.39 to the broader market. Bath & Body Works, Inc. Led by Daniel Heaf, public since 1982-04-01.
Snapshot as of May 15, 2026.
- Spot Price
- $17.16
- Expected Move
- 21.3%
- Implied High
- $20.81
- Implied Low
- $13.51
- Front DTE
- 28 days
As of May 15, 2026, Bath & Body Works, Inc. (BBWI) has an expected move of 21.29%, a one-standard-deviation implied price range of roughly $13.51 to $20.81 from the current $17.16. Expected move is derived from at-the-money straddle pricing and represents the market's pricing of a ±1σ move. Roughly 68% of outcomes should fall within this range under lognormal assumptions, though empirical markets have fatter tails.
BBWI Strategy Sizing to the Expected Move
With Bath & Body Works, Inc. pricing an expected move of 21.29% from $17.16, risk-defined strategies sized to the implied range structurally target the modal outcome distribution. Iron condors with wings at the ±1σ expected move boundaries collect premium against the ~68% probability that spot stays inside the range under lognormal assumptions; strangles set wider at ±1.5σ or ±2σ target the tails but pay smaller per-trade premium. Long-vol structures (long straddles, ratio backspreads) profit when realized move exceeds the implied move, the inverse trade: they bet against the lognormal assumption itself, capitalizing on the empirically fatter equity-return tails.
Learn how expected move is reported and how to read the data →
Per-expiration expected move for BBWI derived from ATM implied volatility at each listed expiration. Implied high/low bounds are computed as $17.16 × (1 ± expected move %). One standard-deviation range under lognormal assumptions, roughly 68% of outcomes fall inside.
| Expiration | DTE | ATM IV | Expected Move | Implied High | Implied Low |
|---|---|---|---|---|---|
| May 22, 2026 | 7 | 63.2% | 8.8% | $18.66 | $15.66 |
| May 29, 2026 | 14 | 83.7% | 16.4% | $19.97 | $14.35 |
| Jun 5, 2026 | 21 | 85.7% | 20.6% | $20.69 | $13.63 |
| Jun 12, 2026 | 28 | 76.4% | 21.2% | $20.79 | $13.53 |
| Jun 18, 2026 | 34 | 70.6% | 21.5% | $20.86 | $13.46 |
| Jun 26, 2026 | 42 | 68.2% | 23.1% | $21.13 | $13.19 |
| Jul 17, 2026 | 63 | 64.4% | 26.8% | $21.75 | $12.57 |
| Aug 21, 2026 | 98 | 63.1% | 32.7% | $22.77 | $11.55 |
| Nov 20, 2026 | 189 | 63.5% | 45.7% | $25.00 | $9.32 |
| Dec 18, 2026 | 217 | 63.3% | 48.8% | $25.54 | $8.78 |
| Jan 15, 2027 | 245 | 62.3% | 51.0% | $25.92 | $8.40 |
| Mar 19, 2027 | 308 | 63.1% | 58.0% | $27.11 | $7.21 |
| Jun 17, 2027 | 398 | 61.5% | 64.2% | $28.18 | $6.14 |
| Sep 17, 2027 | 490 | 64.3% | 74.5% | $29.94 | $4.38 |
| Jan 21, 2028 | 616 | 63.3% | 82.2% | $31.27 | $3.05 |
Frequently asked BBWI expected move questions
- What is the current BBWI expected move?
- As of May 15, 2026, Bath & Body Works, Inc. (BBWI) has an expected move of 21.29% over the next 28 days, implying a one-standard-deviation price range of $13.51 to $20.81 from the current $17.16. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.
- What does the BBWI expected move mean for traders?
- Roughly 68% of outcomes should fall within ±1 expected move and 95% within ±2 under lognormal assumptions, though equity returns have empirically fatter tails than log-normal predicts. Strategies sized to the expected move (iron condors at ±1σ, strangles at ±1.5σ) target the typical outcome distribution; strategies that profit from tail moves (long-vol structures, ratio backspreads) target the tails the lognormal model under-prices.
- How is BBWI expected move calculated?
- The expected move displayed here is derived from at-the-money implied volatility scaled to the chosen tenor: expected move % is approximately ATM IV times sqrt(T / 365), where T is days to expiration. An equivalent straddle-based form: the ATM straddle (call + put at the same strike) is roughly sqrt(2/pi) times spot times IV times sqrt(T/365), so the implied one-standard-deviation move is approximately 1.25 times ATM straddle divided by spot. The two formulations agree once the sqrt(2/pi) constant is reconciled.