What move does the options market price into Air Products & Chemicals's report?

Implied ±3.5%, either direction.

How often does Air Products & Chemicals move more than the options market prices?

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

APDNYSEIndustrial Inorganic Chemicals

Air Products & Chemicals, Inc. (APD) earnings date, market-implied expected move, and options open interest by expiry

314.37

+2.62 · +0.84%

post 316.12 +0.56%

Closed19:36 ET

Open310.00Volume1.3MMkt cap$70.5BEPS-0.21Div yield2.28%

Day310.00 – 316.12100%52-wk223.18 – 316.6499%

APD

Air Products & Chemicals, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±3.5%implied · report alone

8Q avg ±2.9%·×1.21·rich

305.49327.37

straddle ±5.4%

spot 316.43exp Nov 20ATM strike 320ATM straddle 20.10IV 33%

Oct 30 closereport share · term structure

Expected move

Inputs

Next report

Nov 5

before open · in 5 days

est.Q4 FY26

Calendar

Next report

Last report

+2.02%

vs ±5.8% implied · ×0.35

shaded = implied · ▲▼ = realized

Jul 30 '26 · confirmed

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

+4.33%

shares held · 10 largest managers

13F · Jun 30 '26123d lag

1,780 managers

Top fund weight

4.62%

APD weight · XLB

N-PORTJun 30 '26

10 funds

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

Air Products & Chemicals (APD) is expected to report on Nov 5 before open (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±5.4%
avg realized: ±2.9%

Nov 7 '24Nov 7 '24confirmed±5.0%▲+1.99%×0.40

Feb 6 '25Feb 6 '25confirmed±4.8%▼−1.51%×0.31

May 1 '25May 1 '25confirmed±6.0%▲+0.39%×0.07

Jul 31 '25Jul 31 '25confirmed±5.0%▼−0.78%×0.16

Nov 6 '25Nov 6 '25confirmed±5.8%▲+8.94%×1.55

Jan 30 '26Jan 30 '26confirmed±5.5%▲+6.44%×1.16

Q2 FY26Apr 30 '26confirmed±5.5%▼−0.81%×0.15

Q3 FY26Jul 30 '26confirmed±5.8%▲+2.02%×0.35

quarterimplied−10%0+10%realized×

Q3 FY26±5.8%▲+2.02%×0.35

Q2 FY26±5.5%

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

Implied vs realized

Positioning

OI · 4 expiries · Oct 29 close

0.38OI · 4 expiries · Oct 29 closeP/C open interest · Nov 20 · first expiry after the report

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

688+11%Nov 2020d1,791+4%

1,810+3%Dec 1848d0.325,5900%0.32

2,5200%Jan 1576d0.773,272+1%0.77

7640%Mar 19139d0.91836+5%0.91

ExpiryPutsCallsP/C

Nov 2020d688+11%1,791+4%0.38

Dec 1848d1,810+3%5,5900%0.32

Jan 1576d2,5200%3,272+1%0.77

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

Positioning

Linked exposure

scenario · straddle±5.4%

Funds 4

XLB±0.2%

VIG±0.0%

VTV±0.0%

RSP±0.0%

Dashed = straddleMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ3 FY26

−45.00%as filednet margin · revenue −0.34% QoQ · +4.58% YoY

Revenue$3.2B−0.34%

Gross profit$1.0B32.77%+4.92%

Operating income−$2.1B−66.34%−378.61%

Pre-tax income−$1.9B−319.32%

Net income−$1.4B−45.00%−296.23%

Cost of revenue$2.1B−2.72%

Operating expenses$3.1B+1234.94%

Tax−$515M−424.76%

Other income$159M+21.87%

Source: SEC filings · standardized · QE Jun 30 '26 · bars = % of revenue

Revenue flow

Intraday

15m bars

Long dash = implied range · Oct 30 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 19:30 ET

Intraday

Event sensitivity

PPI ×1.24· ±1.4% vs ±1.1% · 11 releases

eventrelease day|move|up · n×base

PPIproducer prices±1.4%6 of 11×1.24

CPIconsumer prices±1.3%3 of 11×1.13

FOMCrate decision±1.1%12 of 25×1.01

NFPjobs report±1.1%6 of 10×0.99

GDPgross domestic product±0.8%11 of 20×0.73

PCEpersonal income & outlays±0.7%11 of 20×0.66

CPROFcorporate profits±0.6%7 of 12×0.50

Bar = avg |move| to ±2% · tick = ±1.1% avg day · ×base = |move| ÷ ±1.1% · min 6 releases

Earnings history

EPS -6.47 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Jul 30 '26 · confirmed	-6.47	—
Q2 FY26	Apr 30 '26 · confirmed	3.19	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod