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

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

CNCNYSEHospital & Medical Service Plans

Centene Corp (CNC) earnings date, market-implied expected move, and options open interest by expiry

68.60

Closed19:50 ET

Open69.17Volume4.8MMkt cap$33.9BP/E22.57EPS3.04

Day66.91 – 69.8957%52-wk31.63 – 72.5090%

CNC

Centene Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

No implied move.

Expected move

Inputs

Next report

Feb 5

after close · in 96 days

est.Q4 FY26

Calendar

Next report

Last report

+1.00%

vs ±6.5% implied · ×0.15

shaded = implied · ▲▼ = realized

Oct 27 '26 · confirmed

Implied vs realized

Largest filed tie

12.20%

of Evolent Health revenue

supplierEVH 10-K

Supply chain

Largest filed tie

13F top-10 QoQ

+4.33%

shares held · 10 largest managers

13F · Jun 30 '26124d lag

1,006 managers

Top fund weight

0.52%

CNC weight · XLV

N-PORTJun 30 '26

10 funds

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

Centene (CNC) is expected to report on Feb 5 after close (estimated date).

Implied vs realized

8 reports

3 of 8≥ implied

avg implied: ±7.3%
avg realized: ±10.5%

Apr 25 '25Apr 25 '25confirmed±6.4%▼−6.32%×0.98

Jul 1 '25Jul 1 '25confirmed±2.1%▼−40.37%×18.81

Jul 25 '25Jul 25 '25confirmed±7.1%▲+6.09%×0.86

Oct 29 '25Oct 29 '25confirmed±9.6%▲+12.50%×1.30

Feb 6 '26Feb 6 '26confirmed±9.7%▼−3.66%×0.38

Q1 FY26Apr 28 '26confirmed±8.7%▲+13.95%×1.60

Q2 FY26Jul 28 '26confirmed±8.3%▼−0.27%×0.03

Q3 FY26Oct 27 '26confirmed±6.5%▲+1.00%×0.15

quarterimplied−45%0+45%realized×

Q3 FY26±6.5%▲+1.00%×0.15

Q2 FY26±8.3%

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

Implied vs realized

Positioning

OI · 8 expiries · Oct 30 close

1.01OI · 8 expiries · Oct 30 closeP/C open interest · Mar 19 · first expiry after the report

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

5 nearer expiries

1,476+196%Nov 65d1.031,439+77%1.03

296+16%Nov 1312d0.34861+32%0.34

23,199+6%Nov 2019d3.107,477+6%3.10

234+53%Nov 2726d0.69339+37%0.69

11,308—Dec 433d3769.333—3769.33

9,497+20%Dec 1847d0.8810,789+11%0.88

35,336+1%Jan 1575d0.3599,8260%0.35

report · Feb 5 · after close · est.

ExpiryPutsCallsP/C

5 nearer expiries

Nov 65d1,476+196%1,439+77%1.03

Nov 1312d296+16%861+32%0.34

Nov 2019d23,199+6%7,477

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

Positioning

Linked exposure

No implied move.

Linked exposure

Revenue flow

as filedQ3 FY26

−0.13%as filednet margin · revenue −5.47% QoQ · +1.93% YoY

Revenue$50.6B−5.47%

Gross profit$50.0B98.67%−5.45%

Operating income−$307M−0.61%−125.63%

Pre-tax income−$122M−108.21%

Net income−$65M−0.13%−105.98%

Cost of revenue$675M−7.41%

Operating expenses$50.3B−2.66%

Tax−$57M−114.29%

Other income$185M−35.76%

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

Revenue flow

Intraday

15m bars

Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 19:45 ET

Intraday

Event sensitivity

FOMC ×1.33· ±2.3% vs ±1.8% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±2.3%13 of 24×1.33

CPIconsumer prices±2.0%7 of 11×1.14

PPIproducer prices±1.9%5 of 11×1.08

NFPjobs report±1.8%5 of 10×1.00

GDPgross domestic product±1.0%11 of 20×0.58

PCEpersonal income & outlays±1.0%10 of 20×0.55

CPROFcorporate profits±0.8%7 of 12×0.47

Bar = avg |move| to ±3% · tick = ±1.8% avg day · ×base = |move| ÷ ±1.8% · min 6 releases

Earnings history

EPS -0.14 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Oct 27 '26 · confirmed	-0.14	—
Q2 FY26	Jul 28 '26 · confirmed	2.19	—
Q1 FY26	Apr 28 '26 · confirmed	3.11	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod