What move does the options market price into Cadence Design Systems's report?

Implied ±17.0%, either direction · provisional.

How often does Cadence Design Systems move more than the options market prices?

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

CDNSNasdaqServices-Prepackaged Software

Cadence Design Systems Inc (CDNS) earnings date, market-implied expected move, and options open interest by expiry

323.77

−5.74 · −1.74%

post 322.67 −0.34%

Closed19:43 ET

Open329.99Volume2.2MMkt cap$90.4BP/E63.77EPS5.06

Day313.35 – 331.8950%52-wk262.75 – 416.6939%

CDNS

Cadence Design Systems Inc

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±17.0%implied · straddle

268.76378.74

spot 323.75exp Feb 19ATM strike 325ATM straddle 64.70IV 46%

Nov 3 closeprovisional

Expected move

Inputs

Next report

Feb 16

after close · in 104 days

est.Q4 FY26

Calendar

Next report

Last report

+6.49%

vs ±6.6% implied · ×0.98

shaded = implied · ▲▼ = realized

Oct 26 '26 · confirmed

Implied vs realized

Largest filed tie

12.00%

of GSI Technology revenue

supplierGSIT 10-K

Largest filed tie

13F top-10 QoQ

+6.71%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

1,513 managers

Top fund weight

2.15%

CDNS weight · SMH

N-PORTJun 30 '26

14 funds

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

Cadence Design Systems (CDNS) is expected to report on Feb 16 after close (estimated date).

Implied vs realized

8 reports

3 of 8≥ implied

avg implied: ±6.8%
avg realized: ±5.8%

Feb 18 '25Feb 18 '25confirmed±6.0%▼−8.78%×1.47

Apr 28 '25Apr 28 '25confirmed±7.3%▲+5.77%×0.79

Jul 28 '25Jul 28 '25confirmed±6.9%▲+9.74%×1.41

Oct 27 '25Oct 27 '25confirmed±7.0%▼−2.87%×0.41

Feb 17 '26Feb 17 '26confirmed±6.6%▲+7.60%×1.15

Q1 FY26Apr 27 '26confirmed±7.1%▼−3.34%×0.47

Q2 FY26Jul 27 '26confirmed±6.8%▲+1.80%×0.26

Q3 FY26Oct 26 '26confirmed±6.6%▲+6.49%×0.98

quarterimplied−10%0+10%realized×

Q3 FY26±6.6%▲+6.49%×0.98

Q2 FY26±6.8%

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

Implied vs realized

Positioning

OI · 10 expiries · Nov 2 close

0.80OI · 10 expiries · Nov 2 closeP/C open interest · Feb 19 · first expiry after the report

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

6 nearer expiries

756+61%Nov 62d0.741,020+195%0.74

366+98%Nov 139d1.08338+83%1.08

9,4860%Nov 2016d0.7812,152+28%0.78

1,048+513%Nov 2723d0.581,820+5588%0.58

11+38%Dec 430d2.205+400%2.20

2—Dec 1137d—0——

3,494+11%Dec 1844d1.073,272+7%1.07

8,4980%Jan 1572d0.7511,378−8%0.75

report · Feb 16 · after close · est.

ExpiryPutsCallsP/C

6 nearer expiries

Nov 62d756+61%1,020+195%0.74

Nov 139d366+98%338+83%1.08

Nov 2016d9,4860%12,152

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

Positioning

Linked exposure

scenario · straddle±17.0%

Funds 4

SMH±0.4%

IGPT±0.2%

JEPI±0.2%

XLK±0.1%

Customers 1

SVCO±14.1%×0.83

Dashed = straddle · × = co-movement · max 500dMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ3 FY26

17.74%as filednet margin · revenue +3.08% QoQ · +21.99% YoY

Revenue

$1.6B+3.08% QoQ

Gross profit

$1.4B+3.91% QoQ

85.57% margin

Operating income

$429M−4.80% QoQ

26.25% margin

Pre-tax income

$408M−19.97% QoQ

Net income

$290M−21.07% QoQ

17.74% margin

Cost of revenue

$236M−1.55% QoQ

Operating expenses

$969M+8.29% QoQ

R&D $538M

Marketing $242M

SG&A $113M

Other operating $76M

Other expense

$20M

Tax

$119M−17.16% QoQ

Revenue$1.6B+3.08%

Gross profit

$1.4B+3.91%

85.57% margin

Operating income

$429M−4.80%

26.25% margin

Pre-tax income

$408M−19.97%

Net income

$290M−21.07%

17.74% margin

Cost of revenue

$236M−1.55%

Operating expenses

$969M+8.29%

R&D $538M

Marketing $242M

SG&A $113M

Other expense

$20M

Tax$119M−17.16%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 19:30 ET

Intraday

Event sensitivity

NFP ×1.21· ±2.0% vs ±1.7% · 10 releases

eventrelease day|move|up · n×base

NFPjobs report±2.0%6 of 10×1.21

FOMCrate decision±1.8%15 of 24×1.06

CPIconsumer prices±1.7%4 of 10×1.05

CPROFcorporate profits±1.3%5 of 12×0.79

PPIproducer prices±1.2%4 of 10×0.74

GDPgross domestic product±1.1%8 of 19×0.69

PCEpersonal income & outlays±0.8%8 of 19×0.49

Bar = avg |move| to ±3% · tick = ±1.7% avg day · ×base = |move| ÷ ±1.7% · min 6 releases

Earnings history

EPS 1.05 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Oct 26 '26 · confirmed	1.05	—
Q2 FY26	Jul 27 '26 · confirmed	1.33	—
Q1 FY26	Apr 27 '26 · confirmed	1.23	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod