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

Implied ±7.9%, either direction.

CALYNYSESporting & Athletic Goods, NEC

Callaway Golf Co (CALY) earnings date, market-implied expected move, and options open interest by expiry

16.58

+0.70 · +4.43%

post 16.58 −0.04%

Closed16:00 ET

Open16.53Volume2.0MMkt cap$2.8BEPS-1.42

Day16.29 – 16.7267%52-wk8.71 – 20.2868%

CALY

Callaway Golf Co

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±7.9%implied · report alone

8Q avg ±10.7%·×0.74·cheap

15.2817.92

straddle ±10.2%

spot 16.60exp Nov 20ATM strike 17.5ATM straddle 2.00IV 66%

Nov 4 closereport share · term structure

Expected move

Inputs

Next report

Nov 5

after close · in 1 day

confirmedQ3 FY26

Calendar

Next report

Last report

−2.35%

vs ±10.2% implied · ×0.23

shaded = implied · ▲▼ = realized

Aug 4 '26 · confirmed

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

+9.28%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

316 managers

Top fund weight

0.08%

CALY weight · IWM

N-PORTJun 30 '26

4 funds

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

Callaway Golf (CALY) reports on Nov 5 after close (confirmed date).

Implied vs realized

8 reports

—≥ implied

Nov 12 '24Nov 12 '24confirmed—▼−9.22%—

Feb 24 '25Feb 24 '25confirmed—▼−0.30%—

May 12 '25May 12 '25confirmed—▼−17.09%—

Aug 6 '25Aug 6 '25confirmed—▲+8.76%—

Nov 6 '25Nov 6 '25confirmed—▲+14.35%—

Feb 12 '26Feb 12 '26confirmed±10.2%▼−15.05%×1.47

Q1 FY26May 7 '26confirmed±9.3%▲+18.62%×2.00

Q2 FY26Aug 4 '26confirmed±10.2%▼−2.35%×0.23

quarterimplied−20%0+20%realized×

Q2 FY26±10.2%▼−2.35%×0.23

Q1 FY26±9.3%

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

Implied vs realized

Positioning

OI · 4 expiries · Nov 4 close

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

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

5130%Nov 2016d1,348+1%

68+17%Dec 1844d0.59115+1%0.59

9370%Jan 1572d0.322,9710%0.32

2770%Feb 19107d0.91304+1%0.91

ExpiryPutsCallsP/C

Nov 2016d5130%1,348+1%0.38

Dec 1844d68+17%115+1%0.59

Jan 1572d9370%2,9710%0.32

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

Positioning

Linked exposure

scenario · straddle±10.2%

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

12.28%as filednet margin · revenue −10.95% QoQ · +1.97% YoY

Revenue

$612M−10.95% QoQ

Gross profit

$307M−6.12% QoQ

50.10% margin

Operating income

$115M−16.93% QoQ

18.75% margin

Pre-tax income

$111M+2.79% QoQ

Net income

$75M−19.23% QoQ

12.28% margin

Cost of revenue

$306M−15.33% QoQ

Operating expenses

$192M+1.80% QoQ

SG&A $176M

R&D $16M

Other expense

$4M

Tax

$35M+6.42% QoQ

Revenue$612M−10.95%

Gross profit

$307M−6.12%

50.10% margin

Operating income

$115M−16.93%

18.75% margin

Pre-tax income

$111M+2.79%

Net income

$75M−19.23%

12.28% margin

Cost of revenue

$306M−15.33%

Operating expenses

$192M+1.80%

SG&A $176M

R&D $16M

Other expense

$4M

Tax$35M+6.42%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

NFP ×1.55· ±3.8% vs ±2.4% · 10 releases

eventrelease day|move|up · n×base

NFPjobs report±3.8%6 of 10×1.55

CPIconsumer prices±3.1%5 of 10×1.30

FOMCrate decision±2.9%10 of 24×1.21

PCEpersonal income & outlays±1.9%10 of 19×0.79

PPIproducer prices±1.8%5 of 10×0.76

GDPgross domestic product±1.8%13 of 19×0.74

CPROFcorporate profits±1.2%9 of 12×0.51

Bar = avg |move| to ±4% · tick = ±2.4% avg day · ×base = |move| ÷ ±2.4% · min 6 releases

Earnings history

EPS 0.40 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 4 '26 · confirmed	0.40	—
Q1 FY26	May 7 '26 · confirmed	0.47	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod