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

Implied ±19.9%, either direction.

How often does Delcath Systems move more than the options market prices?

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

DCTHNasdaqSurgical & Medical Instruments & Apparatus

Delcath Systems, Inc. (DCTH) earnings date, market-implied expected move, and options open interest by expiry

14.70

+0.30 · +2.08%

Regular session09:47 ET

Open14.70Volume386,765Mkt cap$499.7MP/E939.22

Day14.70 – 14.7050%52-wk8.12 – 17.4271%

DCTH

Delcath Systems, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±19.9%implied · report alone

8Q avg ±8.7%·×2.28·rich

11.5317.27

straddle ±21.2%

spot 14.40exp Nov 20ATM strike 15ATM straddle 3.60IV 142%

Nov 3 closereport share · term structure

Expected move

Inputs

Next report

Nov 9

before open · in 5 days

est.Q3 FY26

Calendar

Next report

Last report

+22.49%

vs ±15.9% implied · ×1.41

shaded = implied · ▲▼ = realized

Aug 6 '26 · confirmed

Implied vs realized

Largest filed tie

—

13F top-10 QoQ

+11.55%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

121 managers

Top fund weight

0.01%

DCTH weight · IWM

N-PORTJun 30 '26

3 funds

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

Delcath Systems (DCTH) is expected to report on Nov 9 before open (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±16.2%
avg realized: ±8.7%

May 8 '25May 8 '25confirmed±15.3%▲+23.64%×1.54

Aug 6 '25Aug 6 '25confirmed±17.1%▲+1.14%×0.07

Oct 20 '25Oct 20 '25confirmed±32.7%▼−4.59%×0.14

Nov 4 '25Nov 4 '25confirmed±16.5%▼−4.62%×0.28

Jan 12 '26Jan 12 '26confirmed±5.0%▲+1.26%×0.25

Q1 FY26Feb 26 '26confirmed±15.8%▼−11.85%×0.75

May 7 '26May 7 '26confirmed±11.3%▼−0.18%×0.02

Q2 FY26Aug 6 '26confirmed±15.9%▲+22.49%×1.41

quarterimplied−35%0+35%realized×

Q2 FY26±15.9%▲+22.49%×1.41

May '26±11.3%

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

Implied vs realized

Positioning

OI · 2 expiries · Nov 3 close

0.13OI · 2 expiries · Nov 3 closeP/C open interest · Nov 20 · first expiry after the report

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

2570%Nov 2016d1,955+1%

1160%Feb 19107d0.254590%0.25

ExpiryPutsCallsP/C

Nov 2016d2570%1,955+1%0.13

Feb 19107d1160%4590%0.25

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

Positioning

Linked exposure

scenario · straddle±21.2%

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 filedQ2 FY26

9.16%as filednet margin · revenue +16.56% QoQ · +20.60% YoY

Revenue

$29M+16.56% QoQ

Gross profit

$26M+23.00% QoQ

89.75% margin

Operating income

$2M+246.30% QoQ

8.22% margin

Pre-tax income

$3M+447.91% QoQ

Net income

$3M+349.35% QoQ

9.16% margin

Cost of revenue

$3M−20.10% QoQ

Operating expenses

$24M+3.75% QoQ

SG&A $13M

R&D $10M

Tax

$491,000+203.09% QoQ

Other income

$764,000+4.80% QoQ

Revenue$29M+16.56%

Gross profit

$26M+23.00%

89.75% margin

Operating income

$2M+246.30%

8.22% margin

Pre-tax income

$3M+447.91%

Net income

$3M+349.35%

9.16% margin

Cost of revenue

$3M−20.10%

Operating expenses

$24M+3.75%

SG&A $13M

R&D $10M

Other income$764,000+4.80%

Tax$491,000+203.09%

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 · 09:45 ET

Intraday

Event sensitivity

FOMC ×0.95· ±2.6% vs ±2.7% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±2.6%12 of 24×0.95

PCEpersonal income & outlays±2.2%9 of 19×0.80

PPIproducer prices±2.0%5 of 10×0.72

GDPgross domestic product±2.0%13 of 19×0.72

CPIconsumer prices±1.9%7 of 10×0.69

NFPjobs report±1.7%3 of 10×0.63

CPROFcorporate profits±1.7%9 of 12×0.63

Bar = avg |move| to ±3% · tick = ±2.7% avg day · ×base = |move| ÷ ±2.7% · min 6 releases

Earnings history

EPS 0.07 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 6 '26 · confirmed	0.07	—
Q1 FY26	Feb 26 '26 · confirmed	-0.03	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod