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

Implied ±7.2%, either direction.

CPBNasdaqFood and Kindred Products

Campbell's Co (CPB) earnings date, market-implied expected move, and options open interest by expiry

23.28

pre 23.50 +1.03%

Pre-market09:14 ET

Open23.34Volume8.5MMkt cap$6.9BP/E17.54EPS1.34Div yield6.10%

Day23.34 – 23.5384%52-wk18.60 – 30.1143%

CPB

Campbell's Co

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±7.2%implied · straddle

21.5824.94

spot 23.26exp Dec 11ATM strike 23.5ATM straddle 1.97IV 33%

Nov 4 close

Expected move

Inputs

Next report

Dec 8

before open · in 33 days

est.Q1 FY27

Calendar

Next report

Last report

−6.96%

shaded = implied · ▲▼ = realized

Sep 3 '26 · confirmed

Implied vs realized

Largest filed tie

22.00%

of CPB revenue · Wal-Mart Stores, Inc. and its affiliates

customerCPB 10-K

Largest filed tie

13F top-10 QoQ

+15.72%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

626 managers

Top fund weight

0.01%

CPB weight · VTI

N-PORTJun 30 '26

2 funds

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

Campbell's (CPB) is expected to report on Dec 8 before open (estimated date).

Implied vs realized

1 report

—≥ implied

Q4 FY26Sep 3 '26confirmed—▼−6.96%—

quarterimplied−10%0+10%realized×

Q4 FY26—▼−6.96%—

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

Implied vs realized

Positioning

OI · 10 expiries · Nov 4 close

0.36OI · 10 expiries · Nov 4 closeP/C open interest · Dec 11 · first expiry after the report

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

3 nearer expiries

1,461+4%Nov 61d0.532,736+2%0.53

580+50%Nov 138d0.649110%0.64

9,3380%Nov 2015d0.6713,8430%0.67

171+7%Nov 2722d0.247120%0.24

22+267%Dec 429d0.19116+132%0.19

report · Dec 8 · before open · est.

2 later expiries

1,346−1%Feb 19106d0.711,890+5%0.71

6,3980%Mar 19134d1.10

ExpiryPutsCallsP/C

3 nearer expiries

Nov 61d1,461+4%2,736+2%0.53

Nov 138d580+50%9110%0.64

Nov 2015d9,3380%13,843

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

Positioning

Linked exposure

scenario · straddle±7.2%

Funds 2

VTI±0.0%

VT±0.0%

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

Linked exposure

Revenue flow

derived from FYQ4 FY26

−2.71%derived from FYnet margin · revenue −9.68% QoQ · −7.93% YoY

Revenue$2.1B−9.68%

Gross profit$583M27.28%−10.31%

Operating income$4M0.19%−98.33%

Pre-tax income−$79M−149.69%

Net income−$58M−2.71%−146.77%

Cost of revenue$1.6B−9.44%

Operating expenses$579M+40.88%

Tax−$21M−160.00%

Other expense−$83M−3.75%

Derived: FY − Q1–Q3 · QE Aug 2 '26 · bars = % of revenue

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 09:00 ET

Intraday

Event sensitivity

PPI ×1.47· ±1.9% vs ±1.3% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±1.9%4 of 10×1.47

CPIconsumer prices±1.7%3 of 10×1.34

GDPgross domestic product±1.6%9 of 19×1.27

CPROFcorporate profits±1.6%6 of 12×1.21

NFPjobs report±1.5%7 of 10×1.16

FOMCrate decision±1.3%5 of 24×1.05

PCEpersonal income & outlays±1.1%10 of 19×0.84

Bar = avg |move| to ±2% · tick = ±1.3% avg day · ×base = |move| ÷ ±1.3% · min 6 releases

Earnings history

EPS -0.23 · consensus —

Quarter	Reported	EPS	Consensus
Q4 FY26	Sep 3 '26 · confirmed	-0.23	—
Q3 FY26	—	0.41	—
Q2 FY26	—	0.48	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod