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

Implied ±17.3%, either direction.

How often does Clearfield move more than the options market prices?

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

CLFDNasdaqTelephone & Telegraph Apparatus

Clearfield, Inc. (CLFD) earnings date, market-implied expected move, and options open interest by expiry

32.51

+0.70 · +2.19%

post 32.60 +0.27%

Closed18:16 ET

Open32.37Volume115,289Mkt cap$432.2MP/E135.31

Day32.37 – 32.8449%52-wk23.76 – 52.7331%

CLFD

Clearfield, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±17.3%implied · straddle

26.9538.25

spot 32.60exp Dec 18ATM strike 35ATM straddle 6.65IV 68%

Nov 3 close

Expected move

Inputs

Next report

Nov 24

before open · in 21 days

est.Q4 FY26

Calendar

Next report

Last report

−21.05%

vs ±15.6% implied · ×1.35

shaded = implied · ▲▼ = realized

Aug 5 '26 · confirmed

Implied vs realized

Largest filed tie

—

13F top-10 QoQ

−4.11%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

126 managers

Top fund weight

0.01%

CLFD weight · IWM

N-PORTJun 30 '26

3 funds

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

Clearfield (CLFD) is expected to report on Nov 24 before open (estimated date).

Implied vs realized

8 reports

3 of 8≥ implied

avg implied: ±11.6%
avg realized: ±12.4%

Nov 7 '24Nov 7 '24confirmed±11.5%▼−7.07%×0.61

Feb 6 '25Feb 6 '25confirmed±10.5%▼−5.92%×0.56

May 8 '25May 8 '25confirmed±8.9%▲+7.83%×0.88

Aug 6 '25Aug 6 '25confirmed±9.9%▼−24.65%×2.49

Nov 25 '25Nov 25 '25confirmed±13.4%▼−4.59%×0.34

Q1 FY26Feb 4 '26confirmed±10.8%▼−4.56%×0.42

Q2 FY26May 6 '26confirmed±11.7%▲+23.81%×2.03

Q3 FY26Aug 5 '26confirmed±15.6%▼−21.05%×1.35

quarterimplied−25%0+25%realized×

Q3 FY26±15.6%▼−21.05%×1.35

Q2 FY26±11.7%

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

Implied vs realized

Positioning

OI · 3 expiries · Nov 2 close

0.08OI · 3 expiries · Nov 2 closeP/C open interest · Dec 18 · first expiry after the report

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

174−1%Nov 2017d0.66265+14%0.66

report · Nov 24 · before open · est.

201−6%Dec 1845d2,5500%

340%Mar 19136d0.04931+1%0.04

ExpiryPutsCallsP/C

Nov 2017d174−1%265+14%0.66

report · Nov 24 · before open · est.

Dec 1845d201−6%2,5500%0.08

Mar 19136d340%

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

Positioning

Linked exposure

scenario · straddle±17.3%

Funds 3

IWM±0.0%

UWM±0.0%

VTI±0.0%

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

Linked exposure

Revenue flow

as filedQ3 FY26

6.84%as filednet margin · revenue +27.54% QoQ · +13.18% YoY

Revenue

$44M+27.54% QoQ

Gross profit

$14M+24.94% QoQ

31.79% margin

Operating income

$3M+224.26% QoQ

5.86% margin

Pre-tax income

$4M+658.81% QoQ

Net income

$3M+668.18% QoQ

6.84% margin

Cost of revenue

$30M+28.80% QoQ

Operating expenses

$11M−14.04% QoQ

Tax

$934,000+630.68% QoQ

Other income

$1M−0.15% QoQ

Revenue$44M+27.54%

Gross profit

$14M+24.94%

31.79% margin

Operating income

$3M+224.26%

5.86% margin

Pre-tax income

$4M+658.81%

Net income

$3M+668.18%

6.84% margin

Cost of revenue

$30M+28.80%

Operating expenses

$11M−14.04%

Other income$1M−0.15%

Tax$934,000+630.68%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 18:15 ET

Intraday

Event sensitivity

NFP ×1.86· ±4.3% vs ±2.3% · 10 releases

eventrelease day|move|up · n×base

NFPjobs report±4.3%7 of 10×1.86

GDPgross domestic product±2.6%10 of 19×1.11

CPROFcorporate profits±2.4%8 of 12×1.04

CPIconsumer prices±2.4%6 of 10×1.04

PPIproducer prices±2.3%3 of 10×1.01

PCEpersonal income & outlays±2.3%10 of 19×1.00

FOMCrate decision±2.2%15 of 24×0.94

Bar = avg |move| to ±5% · tick = ±2.3% avg day · ×base = |move| ÷ ±2.3% · min 6 releases

Earnings history

EPS 0.22 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Aug 5 '26 · confirmed	0.22	—
Q2 FY26	May 6 '26 · confirmed	-0.04	—
Q1 FY26	Feb 4 '26 · confirmed	-0.04	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod