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

Implied ±1.7%, either direction.

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

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

CPRTNasdaqRetail-Auto Dealers & Gasoline Stations

Copart Inc (CPRT) earnings date, market-implied expected move, and options open interest by expiry

31.05

−0.88 · −2.75%

post 31.01 −0.13%

Closed19:26 ET

Open32.00Volume10.9MMkt cap$28.8BP/E19.88EPS1.56

Day30.93 – 32.007%52-wk25.72 – 43.3830%

CPRT

Copart Inc

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±1.7%implied · report alone

8Q avg ±4.4%·×0.38·cheap

30.5431.58

straddle ±6.5%

spot 31.06exp Nov 20ATM strike 30ATM straddle 2.38IV 42%

Nov 3 closereport share · term structure

Expected move

Inputs

Next report

Nov 19

after close · in 16 days

est.Q1 FY27

Calendar

Next report

Last report

−2.60%

vs ±6.4% implied · ×0.40

shaded = implied · ▲▼ = realized

Sep 10 '26 · confirmed

Implied vs realized

Largest filed tie

—

13F top-10 QoQ

+6.12%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

1,058 managers

Top fund weight

0.43%

CPRT weight · XLI

N-PORTJun 30 '26

10 funds

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

Copart (CPRT) is expected to report on Nov 19 after close (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±6.4%
avg realized: ±4.4%

Nov 21 '24Nov 21 '24confirmed±7.1%▲+10.19%×1.44

Feb 20 '25Feb 20 '25confirmed±4.9%▼−2.80%×0.57

May 22 '25May 22 '25confirmed±6.0%▼−11.52%×1.93

Sep 4 '25Sep 4 '25confirmed±6.8%▼−2.80%×0.41

Nov 20 '25Nov 20 '25confirmed±6.6%▼−0.71%×0.11

Q2 FY26Feb 19 '26confirmed±4.6%▼−3.11%×0.68

Q3 FY26May 21 '26confirmed±9.2%▼−1.77%×0.19

Q4 FY26Sep 10 '26confirmed±6.4%▼−2.60%×0.40

quarterimplied−15%0+15%realized×

Q4 FY26±6.4%▼−2.60%×0.40

Q3 FY26±9.2%▼−1.77%×0.19

Q2 FY26±4.6%▼−3.11%×0.68

Nov '25±6.6%▼−0.71%×0.11

Sep '25±6.8%▼−2.80%×0.41

May '25±6.0%▼−11.52%×1.93

2 older reports

Feb '25±4.9%▼−2.80%×0.57

Nov '24±7.1%▲+10.19%×1.44

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

Implied vs realized

Positioning

OI · 5 expiries · Nov 3 close

0.28OI · 5 expiries · Nov 3 closeP/C open interest · Nov 20 · first expiry after the report

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

5,834−4%Nov 2017d20,931−1%

11,907−1%Dec 1845d0.5322,397+4%0.53

8,892−1%Jan 1573d0.5017,8690%0.50

1,9610%Feb 19108d2.10936+2%2.10

1,9540%Mar 19136d0.257,962−1%0.25

ExpiryPutsCallsP/C

Nov 2017d5,834−4%20,931−1%0.28

Dec 1845d11,907−1%22,397+4%0.53

Jan 1573d8,892−1%17,8690%0.50

Feb 19108d1,9610%936+2%2.10

Mar 19136d1,9540%7,962−1%0.25

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

Positioning

Linked exposure

scenario · straddle±6.5%

Funds 4

XLI±0.0%

RSP±0.0%

QQQ±0.0%

VTV±0.0%

Dashed = straddleMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

derived from FYQ4 FY26

28.36%derived from FYnet margin · revenue −6.84% QoQ · +2.43% YoY

Revenue

$1.2B−6.84% QoQ

Gross profit

$988M−8.22% QoQ

85.75% margin

Operating income

$369M−20.54% QoQ

32.01% margin

Pre-tax income

$405M−19.40% QoQ

Net income

$327M−18.58% QoQ

28.36% margin

Cost of revenue

$164M+2.45% QoQ

Operating expenses

$619M+1.11% QoQ

Other operating $507M

SG&A $113M

Tax

$78M−22.66% QoQ

Other income

$36M−5.30% QoQ

Revenue$1.2B−6.84%

Gross profit

$988M−8.22%

85.75% margin

Operating income

$369M−20.54%

32.01% margin

Pre-tax income

$405M−19.40%

Net income

$327M−18.58%

28.36% margin

Cost of revenue

$164M+2.45%

Operating expenses

$619M+1.11%

Other operating $507M

SG&A $113M

Other income$36M−5.30%

Tax$78M−22.66%

flow · deduction · inflow · signed % = QoQDerived: FY − Q1–Q3 · QE Jul 31 '26 · width = $

Revenue flow

Intraday

15m bars

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

Intraday

Event sensitivity

PPI ×1.34· ±1.5% vs ±1.2% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±1.5%5 of 10×1.34

NFPjobs report±1.4%7 of 10×1.22

GDPgross domestic product±1.2%8 of 19×1.05

FOMCrate decision±1.2%15 of 24×1.04

PCEpersonal income & outlays±1.0%6 of 19×0.89

CPIconsumer prices±1.0%5 of 10×0.89

CPROFcorporate profits±0.8%5 of 12×0.72

Bar = avg |move| to ±2% · tick = ±1.2% avg day · ×base = |move| ÷ ±1.2% · min 6 releases

Earnings history

EPS 0.35 · consensus —

Quarter	Reported	EPS	Consensus
Q4 FY26	Sep 10 '26 · confirmed	0.35	—
Q3 FY26	May 21 '26 · confirmed	0.43	—
Q2 FY26	Feb 19 '26 · confirmed	0.36	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod