Shares of Opendoor Technologies Inc (NASDAQ: OPEN) tumbled 6.22% during intraday trading on Thursday, as investors showed signs of nervousness ahead of the company's upcoming earnings report. The significant drop comes as the broader market also experienced a selloff, with AI-linked stocks leading the decline.

Market sentiment appears cautious, with options activity suggesting high expectations for volatility following the earnings announcement. According to pre-earnings options data, the implied volatility indicates that the market is anticipating a potential 11.9% move in Opendoor's share price post-earnings. This expectation of a substantial price swing may be contributing to the current selling pressure as investors adjust their positions ahead of the results.

Opendoor Technologies is scheduled to report its quarterly earnings after the market close today, along with several other high-profile companies. As the real estate technology sector continues to face challenges, investors will be closely watching Opendoor's results for insights into the company's performance and future outlook in a changing housing market landscape.