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

Implied ±4.3%, either direction.

How often does Cardinal Health move more than the options market prices?

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

CAHNYSEWholesale-Drugs, Proprietaries & Druggists' Sundries

Cardinal Health Inc (CAH) earnings date, market-implied expected move, and options open interest by expiry

254.72

+0.39 · +0.15%

Regular session10:07 ET

Open254.40Volume1.9MMkt cap$58.3BP/E35.04EPS7.27Div yield0.82%

Day253.87 – 254.8884%52-wk179.64 – 259.8494%

CAH

Cardinal Health Inc

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±4.3%implied · report alone

8Q avg ±6.1%·×0.70·cheap

243.38265.28

straddle ±4.9%

spot 254.33exp Nov 6ATM strike 255ATM straddle 14.80IV 70%

Nov 2 closereport share · term structure

Expected move

Inputs

Next report

Nov 5

before open · in 2 days

confirmedQ1 FY27

Calendar

Next report

Last report

+1.30%

vs ±5.8% implied · ×0.22

shaded = implied · ▲▼ = realized

Aug 11 '26 · confirmed

Implied vs realized

Largest filed tie

30.00%

of CAH revenue · CVS Health

customerCAH 10-K

Supply chain

Largest filed tie

13F top-10 QoQ

+8.65%

shares held · 10 largest managers

13F · Jun 30 '26126d lag

1,503 managers

Top fund weight

0.97%

CAH weight · XLV

N-PORTJun 30 '26

12 funds

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

Cardinal Health (CAH) reports on Nov 5 before open (confirmed date).

Implied vs realized

8 reports

4 of 8≥ implied

avg implied: ±4.7%
avg realized: ±6.1%

Nov 1 '24Nov 1 '24confirmed±4.0%▲+7.01%×1.74

Jan 30 '25Jan 30 '25confirmed±5.4%▲+0.39%×0.07

May 1 '25May 1 '25confirmed±4.8%▲+3.00%×0.62

Aug 12 '25Aug 12 '25confirmed±3.0%▼−7.21%×2.39

Oct 30 '25Oct 30 '25confirmed±4.0%▲+15.43%×3.83

Q2 FY26Feb 5 '26confirmed±4.6%▲+9.83%×2.15

Q3 FY26Apr 30 '26confirmed±6.0%▼−4.90%×0.81

Q4 FY26Aug 11 '26confirmed±5.8%▲+1.30%×0.22

quarterimplied−20%0+20%realized×

Q4 FY26±5.8%▲+1.30%×0.22

Q3 FY26±6.0%

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

Implied vs realized

Positioning

OI · 8 expiries · Nov 2 close

0.23OI · 8 expiries · Nov 2 closeP/C open interest · Nov 6 · first expiry after the report

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

158+7%Nov 63d693+10%

128+1%Nov 1310d1.6279+4%1.62

5460%Nov 2017d0.301,8460%0.30

510%Nov 2724d0.9355+10%0.93

240%Dec 431d0.10242+554%0.10

3 later expiries

1,0080%Dec 1845d0.362,8140%0.36

7,7440%Jan 1573d1.17

ExpiryPutsCallsP/C

Nov 63d158+7%693+10%0.23

Nov 1310d128+1%79+4%1.62

Nov 2017d5460%1,8460%0.30

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

Positioning

Linked exposure

scenario · straddle±4.9%

Funds 4

XLV±0.0%

FTC±0.0%

REVS±0.0%

VIG±0.0%

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

Linked exposure

Revenue flow

derived from FYQ4 FY26

0.63%derived from FYnet margin · revenue +4.48% QoQ · +5.84% YoY

Revenue

$63.7B+4.48% QoQ

Gross profit

$2.6B+2.48% QoQ

4.02% margin

Operating income

$729M+43.22% QoQ

1.14% margin

Pre-tax income

$554M+41.33% QoQ

Net income

$400M+5.26% QoQ

0.63% margin

Cost of revenue

$61.1B+4.57% QoQ

Operating expenses

$1.8B−7.94% QoQ

SG&A $1.6B

Other operating $44M

Other operating $162M

Other expense

$175M

Tax

$154M+1183.33% QoQ

Revenue$63.7B+4.48%

Gross profit

$2.6B+2.48%

4.02% margin

Operating income

$729M+43.22%

1.14% margin

Pre-tax income

$554M+41.33%

Net income

$400M+5.26%

0.63% margin

Cost of revenue

$61.1B+4.57%

Operating expenses

$1.8B−7.94%

SG&A $1.6B

Other operating $44M

Other operating $162M

Other expense

$175M

Tax$154M+1183.33%

flow · deduction · signed % = QoQDerived: FY − Q1–Q3 · QE Jun 30 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 2 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 10:00 ET

Intraday

Event sensitivity

PPI ×1.58· ±1.7% vs ±1.1% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±1.7%6 of 10×1.58

CPIconsumer prices±1.3%5 of 10×1.21

PCEpersonal income & outlays±1.2%9 of 19×1.12

GDPgross domestic product±1.1%13 of 19×0.99

NFPjobs report±1.0%4 of 10×0.89

CPROFcorporate profits±0.9%9 of 12×0.87

FOMCrate decision±0.9%15 of 24×0.79

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

Earnings history

EPS — · consensus —

Quarter	Reported	EPS	Consensus
Q4 FY26	Aug 11 '26 · confirmed	—	—
Q3 FY26	Apr 30 '26 · confirmed	—	—
Q2 FY26	Feb 5 '26 · confirmed	—	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod