What move does the options market price into Cipher Digital's report?

Implied ±46.7%, either direction · provisional.

How often does Cipher Digital move more than the options market prices?

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

CIFRNasdaqFinance Services

Cipher Digital Inc. (CIFR) earnings date, market-implied expected move, and options open interest by expiry

6.86

−0.43 · −5.97%

post 6.91 +0.80%

After hours18:41 ETdelayed

Open7.01Volume53.3MMkt cap$3.1BEPS-2.76

Day6.69 – 7.0168%52-wk6.62 – 30.141%

CIFR

Cipher Digital Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±46.7%implied · straddle

3.6610.06

spot 6.86exp Mar 19ATM strike 7ATM straddle 3.76IV 114%

Nov 2 closeprovisional

Expected move

Inputs

Next report

Feb 23

before open · in 113 days

est.Q4 FY26

Calendar

Next report

Last report

Nov 2

before open

confirmedQ3 FY26Oct 30 close

Implied vs realized

Largest filed tie

70.00%

of CIFR revenue · Foundry USA Pool

customerCIFR 10-K

Supply chain

Largest filed tie

13F top-10 QoQ

+0.03%

shares held · 10 largest managers

13F · Jun 30 '26126d lag

479 managers

Top fund weight

0.65%

CIFR weight · BCOR

N-PORTJun 30 '26

5 funds

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

Cipher Digital (CIFR) is expected to report on Feb 23 before open (estimated date).

Implied vs realized

8 reports

3 of 8≥ implied

avg implied: ±12.8%
avg realized: ±13.3%

Oct 31 '24Oct 31 '24confirmed±11.4%▼−6.63%×0.58

Feb 25 '25Feb 25 '25confirmed±15.2%▼−17.42%×1.14

May 6 '25May 6 '25confirmed±10.8%▲+2.01%×0.19

Aug 7 '25Aug 7 '25confirmed±7.1%▼−6.53%×0.92

Q3 FY25Nov 3 '25confirmed±16.0%▲+22.04%×1.37

Feb 24 '26Feb 24 '26confirmed±12.6%▲+12.48%×0.99

Q1 FY26May 5 '26confirmed±11.0%▲+23.53%×2.14

Q2 FY26Aug 4 '26confirmed±17.8%▼−15.65%×0.88

quarterimplied−25%0+25%realized×

Q2 FY26±17.8%▼−15.65%×0.88

Q1 FY26±11.0%▲+23.53%×2.14

Feb '26±12.6%▲+12.48%×0.99

Q3 FY25±16.0%▲+22.04%×1.37

Aug '25±7.1%▼−6.53%×0.92

May '25±10.8%▲+2.01%×0.19

2 older reports

Feb '25±15.2%▼−17.42%×1.14

Oct '24±11.4%▼−6.63%×0.58

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

0.30OI · 9 expiries · Oct 30 closeP/C open interest · Mar 19 · first expiry after the report

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

6 nearer expiries

24,203+2%Nov 64d0.4751,586+23%0.47

6,688+1%Nov 1311d0.719,375+2%0.71

50,9290%Nov 2018d0.15328,6690%0.15

3,247+18%Nov 2725d0.635,194+3%0.63

1,211+13%Dec 432d1.36891+15%1.36

0—Dec 1139d—0——

61,6810%Dec 1846d0.50123,133+2%0.50

126,4950%Jan 1574d0.25501,520−1%0.25

report · Feb 23 · before open · est.

31,007+11%Mar 19137d103,6500%

ExpiryPutsCallsP/C

6 nearer expiries

Nov 64d24,203+2%51,586+23%0.47

Nov 1311d6,688+1%9,375+2%0.71

Nov 2018d50,9290%328,6690%0.15

Nov 2725d3,247+18%5,194+3%0.63

Dec 432d1,211+13%891+15%1.36

Dec 1139d0—0——

Dec 1846d61,6810%123,133+2%0.50

Jan 1574d126,4950%501,520−1%0.25

report · Feb 23 · before open · est.

Mar 19137d31,007+11%103,6500%0.30

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

Positioning

Linked exposure

scenario · straddle±46.7%

Funds 4

BCOR±0.3%

IWM±0.1%

UWM±0.0%

VTI±0.0%

Suppliers 1

PWR±8.4%×0.18

Customers 2

AMZN±4.7%×0.10

GOOGL±3.9%×0.08

Dashed = straddle · × = co-movement · max 500dMethod 1 more fund Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ3 FY26

111.97%as filednet margin · revenue +13.62% QoQ · −61.89% YoY

Revenue$28M+13.62%

Gross profit$13M45.55%+135.54%

Operating income−$72M−254.85%+8.43%

Pre-tax income$32M+111.81%

Net income$32M111.97%+111.81%

Cost of revenue$15M−74.82%

Operating expenses$84M+134.19%

Tax−$54,000−114.71%

Other income$102M+152.46%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 2 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 18:30 ET

Intraday

Event sensitivity

PCE ×1.12· ±6.2% vs ±5.5% · 20 releases

eventrelease day|move|up · n×base

PCEpersonal income & outlays±6.2%8 of 20×1.12

GDPgross domestic product±6.1%6 of 20×1.11

NFPjobs report±5.2%4 of 10×0.93

CPROFcorporate profits±4.7%3 of 12×0.84

FOMCrate decision±4.6%11 of 24×0.83

PPIproducer prices±4.5%4 of 11×0.82

CPIconsumer prices±4.1%7 of 11×0.75

Bar = avg |move| to ±7% · tick = ±5.5% avg day · ×base = |move| ÷ ±5.5% · min 6 releases

Earnings history

EPS -0.22 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	—	-0.22	—
Q2 FY26	Aug 4 '26 · confirmed	-0.65	—
Q1 FY26	May 5 '26 · confirmed	-0.28	—
Q3 FY25	Nov 3 '25 · confirmed	-0.01	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod