Zillow Group, Inc. Class C (Z) 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.
Zillow Group, Inc. Class C (Z) operates in the Communication Services sector, specifically the Internet Content & Information industry, with a market capitalization near $9.26B, listed on NASDAQ, employing roughly 6,819 people, carrying a beta of 2.04 to the broader market. Zillow Group, Inc. Led by Jeremy Wacksman, public since 2015-08-03.
Snapshot as of May 15, 2026.
- Spot Price
- $37.71
- Expected Move
- 15.3%
- Implied High
- $43.49
- Implied Low
- $31.93
- Front DTE
- 34 days
As of May 15, 2026, Zillow Group, Inc. Class C (Z) has an expected move of 15.34%, a one-standard-deviation implied price range of roughly $31.93 to $43.49 from the current $37.71. 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.
Z Strategy Sizing to the Expected Move
With Zillow Group, Inc. Class C pricing an expected move of 15.34% from $37.71, 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 Z derived from ATM implied volatility at each listed expiration. Implied high/low bounds are computed as $37.71 × (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 |
|---|---|---|---|---|---|
| Jun 18, 2026 | 34 | 53.5% | 16.3% | $43.87 | $31.55 |
| Jul 17, 2026 | 63 | 51.8% | 21.5% | $45.83 | $29.59 |
| Aug 21, 2026 | 98 | 57.7% | 29.9% | $48.98 | $26.44 |
| Sep 18, 2026 | 126 | 56.4% | 33.1% | $50.21 | $25.21 |
| Nov 20, 2026 | 189 | 58.4% | 42.0% | $53.56 | $21.86 |
| Dec 18, 2026 | 217 | 57.5% | 44.3% | $54.43 | $20.99 |
| Jan 15, 2027 | 245 | 56.6% | 46.4% | $55.20 | $20.22 |
| Mar 19, 2027 | 308 | 56.3% | 51.7% | $57.21 | $18.21 |
| Jan 21, 2028 | 616 | 58.5% | 76.0% | $66.37 | $9.05 |
Frequently asked Z expected move questions
- What is the current Z expected move?
- As of May 15, 2026, Zillow Group, Inc. Class C (Z) has an expected move of 15.34% over the next 34 days, implying a one-standard-deviation price range of $31.93 to $43.49 from the current $37.71. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.
- What does the Z 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 Z 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.