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

Implied ±1.6%, either direction.

BRK-BNYSEFire, Marine & Casualty Insurance

Berkshire Hathaway Inc (BRK-B) earnings date, market-implied expected move, and options open interest by expiry

543.00

+1.04 · +0.19%

post 542.94 −0.01%

Closed19:28 ET

Open546.60Volume4.5MMkt cap$1.2TP/E13.55

Day542.79 – 550.892%52-wk464.01 – 550.4791%

BRK-B

Berkshire Hathaway Inc

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±1.6%implied · straddle

8Q avg ±1.2%·×1.34·rich

533.56551.42

spot 542.49exp Nov 6ATM strike 542.5ATM straddle 10.50

Oct 30 close

Expected move

Inputs

Next report

Nov 2

after close · in 2 days

est.Q3 FY26

Calendar

Next report

Last report

−2.46%

shaded = implied · ▲▼ = realized

Aug 11 '26 · confirmed

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

+0.30%

shares held · 10 largest managers

13F · Jun 30 '26124d lag

4,929 managers

Top fund weight

12.08%

BRK-B weight · XLF

N-PORTJun 30 '26

10 funds

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

Berkshire Hathaway (BRK-B) is expected to report on Nov 2 after close (estimated date).

Implied vs realized

8 reports

—≥ implied

Nov 4 '24Nov 4 '24confirmed—▼−2.18%—

Feb 24 '25Feb 24 '25confirmed—▲+0.28%—

May 6 '25May 6 '25confirmed—▲+1.15%—

Aug 4 '25Aug 4 '25confirmed—▼−2.90%—

Q3 FY25Nov 3 '25confirmed—▼−0.39%—

Q1 FY26Mar 2 '26confirmed—▲+0.25%—

May 7 '26May 7 '26confirmed—▲+0.18%—

Q2 FY26Aug 11 '26confirmed—▼−2.46%—

quarterimplied−5%0+5%realized×

Q2 FY26—▼−2.46%—

May '26—▲+0.18%

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

Implied vs realized

Positioning

OI · 9 expiries · Oct 30 close

0.68OI · 9 expiries · Oct 30 closeP/C open interest · Nov 6 · first expiry after the report

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

3,910+10%Nov 66d5,713+8%

2,268+3%Nov 1313d0.445,157+2%0.44

24,287+1%Nov 2020d1.4317,007+1%1.43

1,258+49%Nov 2727d0.951,322−1%0.95

175+3%Dec 434d0.69254+35%0.69

4 later expiries

0—Dec 1141d—0——

47,992+1%Dec 1848d1.41

ExpiryPutsCallsP/C

Nov 66d3,910+10%5,713+8%0.68

Nov 1313d2,268+3%5,157+2%0.44

Nov 2020d24,287+1%17,007+1%1.43

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

Positioning

Linked exposure

scenario · straddle±1.6%

Funds 4

XLF±0.2%

VTV±0.1%

SPY±0.0%

VOO±0.0%

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

Linked exposure

Revenue flow

as filedQ2 FY26

25.31%as filednet margin · revenue +8.68% QoQ · +10.04% YoY

Revenue

$102B+8.68% QoQ

Gross profit

$55.9B+99.52% QoQ

54.87% margin

Operating income

$17.1B+13.45% QoQ

16.77% margin

Pre-tax income

$31.8B+158.26% QoQ

Net income

$25.8B+153.19% QoQ

25.31% margin

Cost of revenue

$45.9B−30.04% QoQ

Operating expenses

$38.8B+199.57% QoQ

Other operating $32.1B

SG&A $6.7B

Tax

$6.3B+193.97% QoQ

Other income

$15.0B+649.08% QoQ

Revenue$102B+8.68%

Gross profit

$55.9B+99.52%

54.87% margin

Operating income

$17.1B+13.45%

16.77% margin

Pre-tax income

$31.8B+158.26%

Net income

$25.8B+153.19%

25.31% margin

Cost of revenue

$45.9B−30.04%

Operating expenses

$38.8B+199.57%

Other operating $32.1B

SG&A $6.7B

Other income$15.0B+649.08%

Tax$6.3B+193.97%

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

Revenue flow

Intraday

15m bars

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

Intraday

Event sensitivity

CPI ×1.09· ±0.8% vs ±0.7% · 11 releases

eventrelease day|move|up · n×base

CPIconsumer prices±0.8%3 of 11×1.09

NFPjobs report±0.7%4 of 10×0.95

FOMCrate decision±0.7%10 of 25×0.93

PCEpersonal income & outlays±0.6%9 of 19×0.89

CPROFcorporate profits±0.6%7 of 12×0.77

PPIproducer prices±0.5%5 of 11×0.72

GDPgross domestic product±0.5%10 of 19×0.68

Bar = avg |move| to ±1% · tick = ±0.7% avg day · ×base = |move| ÷ ±0.7% · min 6 releases

Earnings history

EPS 17,879.91 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 11 '26 · confirmed	17,879.91	—
Q1 FY26	Mar 2 '26 · confirmed	7,031.68	—
Q3 FY25	Nov 3 '25 · confirmed	21,427.28	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod