ACTNasdaqInsurance Agents, Brokers & Service

Enact Holdings, Inc. (ACT) earnings date, market-implied expected move, and options open interest by expiry

47.52

−0.63 · −1.30%

post 47.53 +0.01%

After hours16:00 ETdelayed

Open47.99Volume491,343Mkt cap$4.2BP/E5.93Div yield5.83%

Day47.52 – 48.340%52-wk34.70 – 50.3282%

ACT

Enact Holdings, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±10.3%implied · report alone

8Q avg ±2.7%·×3.87·rich

41.2750.78

straddle ±11.0%

spot 46.02exp Nov 20ATM strike 45ATM straddle 5.98IV 70%

Nov 3 closereport share · term structure

Expected move

Inputs

Next report

Nov 4

after close · in 1 day

est.Q3 FY26

Calendar

Next report

Last report

+1.76%

vs ±10.5% implied · ×0.17

shaded = implied · ▲▼ = realized

Aug 5 '26 · confirmed

Implied vs realized

Largest filed tie

—

13F top-10 QoQ

+3.30%

shares held · 10 largest managers

13F · Jun 30 '26126d lag

248 managers

Top fund weight

0.04%

ACT weight · IWM

N-PORTJun 30 '26

4 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Enact (ACT) is expected to report on Nov 4 after close (estimated date). Implied ±10.3%, either direction. 1 of the last 8 reports moved at least as far as the implied move.

Implied vs realized

8 reports

1 of 8≥ implied

avg implied: ±8.0%
avg realized: ±2.7%

Nov 6 '24Nov 6 '24confirmed±8.0%▼−1.65%×0.21

Feb 4 '25Feb 4 '25confirmed±6.4%▲+1.46%×0.23

Apr 30 '25Apr 30 '25confirmed±5.0%▲+2.18%×0.44

Jul 30 '25Jul 30 '25confirmed±6.5%▲+0.99%×0.15

Q3 FY25Nov 5 '25confirmed±7.8%▲+2.25%×0.29

Feb 3 '26Feb 3 '26confirmed±7.8%▲+9.27%×1.18

Q1 FY26May 5 '26confirmed±11.8%▲+1.77%×0.15

Q2 FY26Aug 5 '26confirmed±10.5%▲+1.76%×0.17

quarterimplied−15%0+15%realized×

Q2 FY26±10.5%▲+1.76%×0.17

Q1 FY26±11.8%▲+1.77%×0.15

Feb '26±7.8%▲+9.27%×1.18

Q3 FY25±7.8%▲+2.25%×0.29

Jul '25±6.5%▲+0.99%×0.15

Apr '25±5.0%▲+2.18%×0.44

2 older reports

Feb '25±6.4%▲+1.46%×0.23

Nov '24±8.0%▼−1.65%×0.21

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 1 expiry · Nov 2 close

0.00OI · 1 expiry · Nov 2 closeP/C open interest · Nov 20 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

0—Nov 2017d531−1%

ExpiryPutsCallsP/C

Nov 2017d0—531−1%0.00

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±11.0%

Funds 4

IWM±0.0%

UWM±0.0%

VTI±0.0%

VT±0.0%

Dashed = straddleMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

55.10%as filednet margin · revenue +1.68% QoQ · +4.07% YoY

Revenue

$317M+1.68% QoQ

Gross profit

$284M+3.32% QoQ

89.52% margin

Operating income

$232M+2.97% QoQ

73.26% margin

Pre-tax income

$220M+3.09% QoQ

Net income

$175M+4.21% QoQ

55.10% margin

Cost of revenue

$33M−10.49% QoQ

Operating expenses

$52M+4.94% QoQ

Other operating $49M

Other operating $2M

Other expense

$12M

Tax

$45M−1.05% QoQ

Revenue$317M+1.68%

Gross profit

$284M+3.32%

89.52% margin

Operating income

$232M+2.97%

73.26% margin

Pre-tax income

$220M+3.09%

Net income

$175M+4.21%

55.10% margin

Cost of revenue

$33M−10.49%

Operating expenses

$52M+4.94%

Other operating $49M

Other operating $2M

Other expense

$12M

Tax$45M−1.05%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Jun 30 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

FOMC ×1.49· ±1.4% vs ±1.0% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±1.4%14 of 24×1.49

PCEpersonal income & outlays±1.3%8 of 19×1.30

CPROFcorporate profits±1.2%7 of 12×1.29

GDPgross domestic product±1.2%9 of 19×1.28

CPIconsumer prices±1.2%4 of 10×1.28

NFPjobs report±1.1%6 of 10×1.18

PPIproducer prices±0.9%2 of 10×0.98

Bar = avg |move| to ±2% · tick = ±1.0% avg day · ×base = |move| ÷ ±1.0% · min 6 releases

Earnings history

EPS 1.25 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 5 '26 · confirmed	1.25	—
Q1 FY26	May 5 '26 · confirmed	1.18	—
Q3 FY25	Nov 5 '25 · confirmed	1.10	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod