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

Implied ±9.8%, either direction.

How often does Comstock Resources move more than the options market prices?

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

CRKNYSECrude Petroleum & Natural Gas

Comstock Resources Inc (CRK) earnings date, market-implied expected move, and options open interest by expiry

13.10

−0.74 · −5.37%

Regular session12:09 ET

Open13.82Volume2.2MMkt cap$4.1BP/E7.32EPS1.79

Day13.09 – 13.851%52-wk12.12 – 28.106%

CRK

Comstock Resources Inc

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±9.8%implied · straddle

12.4815.20

spot 13.84exp Nov 20ATM strike 14ATM straddle 1.60IV 66%

Nov 3 close

Expected move

Inputs

Next report

Today

after close

confirmedQ3 FY26

Calendar

Next report

Last report

+0.71%

vs ±13.0% implied · ×0.05

shaded = implied · ▲▼ = realized

Jul 29 '26 · confirmed

Implied vs realized

Largest filed tie

18.00%

of CRK revenue · Enterprise Products Operating

customerCRK 10-K

Largest filed tie

13F top-10 QoQ

+5.85%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

316 managers

Top fund weight

0.03%

CRK weight · IWM

N-PORTJun 30 '26

4 funds

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

Comstock Resources (CRK) reports on Nov 4 after close (confirmed date).

Implied vs realized

8 reports

3 of 8≥ implied

avg implied: ±9.2%
avg realized: ±7.3%

Oct 30 '24Oct 30 '24confirmed±8.3%▼−7.00%×0.84

Feb 18 '25Feb 18 '25confirmed±5.9%▲+9.87%×1.66

Apr 30 '25Apr 30 '25confirmed±10.6%▲+3.28%×0.31

Jul 30 '25Jul 30 '25confirmed±9.4%▼−14.05%×1.50

Nov 3 '25Nov 3 '25confirmed±10.3%▲+4.26%×0.42

Feb 11 '26Feb 11 '26confirmed±7.7%▼−6.07%×0.79

Q1 FY26May 5 '26confirmed±8.3%▼−13.50%×1.62

Q2 FY26Jul 29 '26confirmed±13.0%▲+0.71%×0.05

quarterimplied−15%0+15%realized×

Q2 FY26±13.0%▲+0.71%×0.05

Q1 FY26±8.3%

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

Implied vs realized

Positioning

OI · 4 expiries · Nov 3 close

0.26OI · 4 expiries · Nov 3 closeP/C open interest · Nov 20 · first expiry after the report

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

6,618+1%Nov 2016d25,082−1%

2,5710%Dec 1844d0.485,328+1%0.48

16,4080%Jan 1572d0.6325,8420%0.63

2,3190%Mar 19135d0.743,1310%0.74

ExpiryPutsCallsP/C

Nov 2016d6,618+1%25,082−1%0.26

Dec 1844d2,5710%5,328+1%0.48

Jan 1572d16,4080%25,8420%0.63

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

Positioning

Linked exposure

scenario · straddle±9.8%

Funds 4

IWM±0.0%

UWM±0.0%

VTI±0.0%

VT±0.0%

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

Linked exposure

Revenue flow

as filedQ2 FY26

4.25%as filednet margin · revenue −39.85% QoQ · −24.88% YoY

Revenue

$353M−39.85% QoQ

Gross profit

$310M−43.19% QoQ

87.73% margin

Operating income

$23M−87.09% QoQ

6.39% margin

Pre-tax income

$12M−90.23% QoQ

Net income

$15M−86.67% QoQ

4.25% margin

Cost of revenue

$43M+3.65% QoQ

Operating expenses

$287M−22.47% QoQ

Depreciation $167M

Other operating $91M

SG&A $17M

Other operating $12M

Other expense

$10M

Tax benefit

$3M

Revenue$353M−39.85%

Gross profit

$310M−43.19%

87.73% margin

Operating income

$23M−87.09%

6.39% margin

Pre-tax income

$12M−90.23%

Net income

$15M−86.67%

4.25% margin

Cost of revenue

$43M+3.65%

Operating expenses

$287M−22.47%

Depreciation $167M

Other operating $91M

SG&A $17M

Other expense

$10M

Tax benefit$3M

flow · deduction · 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 · 12:00 ET

Intraday

Event sensitivity

CPI ×1.06· ±2.7% vs ±2.5% · 10 releases

eventrelease day|move|up · n×base

CPIconsumer prices±2.7%2 of 10×1.06

FOMCrate decision±2.6%14 of 24×1.05

PPIproducer prices±2.4%5 of 10×0.97

PCEpersonal income & outlays±2.4%12 of 19×0.96

CPROFcorporate profits±2.3%8 of 12×0.91

GDPgross domestic product±2.0%12 of 19×0.79

NFPjobs report±1.9%3 of 10×0.78

Bar = avg |move| to ±3% · tick = ±2.5% avg day · ×base = |move| ÷ ±2.5% · min 6 releases

Earnings history

EPS 0.03 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Jul 29 '26 · confirmed	0.03	—
Q1 FY26	May 5 '26 · confirmed	0.38	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod