What move does the options market price into Andersons's report?

Implied ±15.6%, either direction · provisional.

How often does Andersons move more than the options market prices?

4 of the last 8 reports moved at least as far as the implied move.

ANDENasdaqWholesale-Farm Product Raw Materials

Andersons, Inc. (ANDE) earnings date, market-implied expected move, and options open interest by expiry

55.32

−7.35 · −11.73%

post 56.01 +1.25%

Closed18:26 ET

Open59.65Volume402,739Mkt cap$2.1BP/E10.75EPS5.21Div yield1.28%

Day54.49 – 59.6530%52-wk45.26 – 81.6230%

ANDE

Andersons, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±15.6%implied · straddle

46.7263.98

spot 55.35exp Mar 19ATM strike 55ATM straddle 10.15IV 38%

Nov 4 closeprovisional

Expected move

Inputs

Next report

Feb 16

after close · in 103 days

est.Q4 FY26

Calendar

Next report

Last report

−11.68%

vs ±9.8% implied · ×1.19

shaded = implied · ▲▼ = realized

Nov 3 '26 · confirmed

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

+8.24%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

300 managers

Top fund weight

0.07%

ANDE weight · IWM

N-PORTJun 30 '26

4 funds

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

Andersons (ANDE) is expected to report on Feb 16 after close (estimated date).

Implied vs realized

8 reports

4 of 8≥ implied

avg implied: ±8.6%
avg realized: ±8.4%

Feb 18 '25Feb 18 '25confirmed±6.0%▲+17.27%×2.90

May 6 '25May 6 '25confirmed±9.2%▼−9.82%×1.07

Aug 4 '25Aug 4 '25confirmed±12.1%▼−0.06%×0.00

Nov 4 '25Nov 4 '25confirmed±10.4%▲+4.46%×0.43

Feb 17 '26Feb 17 '26confirmed±6.2%▼−3.54%×0.58

Q1 FY26May 5 '26confirmed±7.1%▼−13.95%×1.97

Q2 FY26Aug 3 '26confirmed±8.1%▲+6.61%×0.82

Q3 FY26Nov 3 '26confirmed±9.8%▼−11.68%×1.19

quarterimplied−20%0+20%realized×

Q3 FY26±9.8%▼−11.68%×1.19

Q2 FY26±8.1%

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

Implied vs realized

Positioning

OI · 3 expiries · Nov 4 close

0.31OI · 3 expiries · Nov 4 closeP/C open interest · Mar 19 · first expiry after the report

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

11+10%Nov 2015d0.3928+12%0.39

770%Dec 1843d0.302550%0.30

report · Feb 16 · after close · est.

270%Mar 19134d880%

ExpiryPutsCallsP/C

Nov 2015d11+10%28+12%0.39

Dec 1843d770%2550%0.30

report · Feb 16 · after close · est.

Mar 19134d270%

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

Positioning

Linked exposure

scenario · straddle±15.6%

Funds 4

IWM±0.0%

UWM±0.0%

VIG±0.0%

VTI±0.0%

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

Linked exposure

Revenue flow

as filedQ3 FY26

1.55%as filednet margin · revenue −8.52% QoQ · +5.83% YoY

Revenue

$2.8B−8.52% QoQ

Gross profit

$182M−18.64% QoQ

6.42% margin

Operating income

$33M−34.38% QoQ

1.16% margin

Pre-tax income

$51M−24.78% QoQ

Net income

$44M−18.69% QoQ

1.55% margin

Cost of revenue

$2.7B−7.73% QoQ

Operating expenses

$149M−14.12% QoQ

Tax

$7M−49.28% QoQ

Other income

$18M+2.82% QoQ

Revenue$2.8B−8.52%

Gross profit

$182M−18.64%

6.42% margin

Operating income

$33M−34.38%

1.16% margin

Pre-tax income

$51M−24.78%

Net income

$44M−18.69%

1.55% margin

Cost of revenue

$2.7B−7.73%

Operating expenses

$149M−14.12%

Other income$18M+2.82%

Tax$7M−49.28%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 18:15 ET

Intraday

Event sensitivity

FOMC ×1.16· ±1.9% vs ±1.6% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±1.9%11 of 24×1.16

NFPjobs report±1.7%5 of 10×1.06

CPIconsumer prices±1.4%7 of 10×0.89

PPIproducer prices±1.3%5 of 10×0.82

PCEpersonal income & outlays±1.2%7 of 19×0.76

CPROFcorporate profits±1.1%6 of 12×0.70

GDPgross domestic product±1.1%9 of 19×0.66

Bar = avg |move| to ±2% · tick = ±1.6% avg day · ×base = |move| ÷ ±1.6% · min 6 releases

Earnings history

EPS 1.36 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Nov 3 '26 · confirmed	1.36	—
Q2 FY26	Aug 3 '26 · confirmed	1.65	—
Q1 FY26	May 5 '26 · confirmed	0.97	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod