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

Implied ±6.8%, either direction.

How often does Delek US move more than the options market prices?

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

DKNYSEPetroleum Refining

Delek US Holdings, Inc. (DK) earnings date, market-implied expected move, and options open interest by expiry

65.00

Pre-market18:45 ETdelayed

Open70.84Volume1.5MMkt cap$4.0BP/E18.16EPS3.58Div yield1.56%

Day63.93 – 70.8416%52-wk25.44 – 82.2770%

Delek US Holdings, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±6.8%implied · report alone

8Q avg ±5.9%·×1.15·rich

61.0169.91

straddle ±10.8%

spot 65.46exp Nov 20ATM strike 65ATM straddle 8.30IV 77%

Nov 4 closereport share · term structure

Expected move

Inputs

Next report

Nov 6

before open · in 1 day

est.Q3 FY26

Calendar

Next report

Last report

−9.74%

vs ±10.5% implied · ×0.93

shaded = implied · ▲▼ = realized

Aug 5 '26 · confirmed

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

−0.27%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

298 managers

Top fund weight

0.10%

DK weight · IWM

N-PORTJun 30 '26

4 funds

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

Delek US (DK) is expected to report on Nov 6 before open (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±11.0%
avg realized: ±5.9%

Nov 6 '24Nov 6 '24confirmed±7.8%▲+8.60%×1.10

Feb 25 '25Feb 25 '25confirmed±11.4%▲+0.06%×0.01

May 7 '25May 7 '25confirmed±11.8%▲+0.07%×0.01

Aug 6 '25Aug 6 '25confirmed±13.5%▼−4.89%×0.36

Q3 FY25Nov 7 '25confirmed±12.8%▲+5.66%×0.44

Feb 27 '26Feb 27 '26confirmed±10.5%▲+4.76%×0.46

Q1 FY26Apr 29 '26confirmed±9.6%▲+13.72%×1.43

Q2 FY26Aug 5 '26confirmed±10.5%▼−9.74%×0.93

quarterimplied−15%0+15%realized×

Q2 FY26±10.5%▼−9.74%×0.93

Q1 FY26±9.6%

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

Implied vs realized

Positioning

OI · 5 expiries · Nov 4 close

0.19OI · 5 expiries · Nov 4 closeP/C open interest · Nov 20 · first expiry after the report

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

1,2390%Nov 2015d6,4380%

4810%Dec 1843d3.04158+3%3.04

7080%Jan 1571d0.262,7160%0.26

780%Mar 19134d0.272870%0.27

155−1%Apr 16162d2.63590%2.63

ExpiryPutsCallsP/C

Nov 2015d1,2390%6,4380%0.19

Dec 1843d4810%158+3%3.04

Jan 1571d7080%2,7160%0.26

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

Positioning

Linked exposure

scenario · straddle±10.8%

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

4.41%as filednet margin · revenue +54.05% QoQ · +47.83% YoY

Revenue

$4.1B+54.05% QoQ

Gross profit

$365M+380.41% QoQ

8.93% margin

Operating income

$302M+268.66% QoQ

7.40% margin

Pre-tax income

$222M+189.15% QoQ

Net income

$180M+194.34% QoQ

4.41% margin

Cost of revenue

$3.7B+33.72% QoQ

Operating expenses

$63M+27.70% QoQ

SG&A $57M

Depreciation $5M

Other operating $2M

Other expense

$81M

Tax

$42M+171.82% QoQ

Revenue$4.1B+54.05%

Gross profit

$365M+380.41%

8.93% margin

Operating income

$302M+268.66%

7.40% margin

Pre-tax income

$222M+189.15%

Net income

$180M+194.34%

4.41% margin

Cost of revenue

$3.7B+33.72%

Operating expenses

$63M+27.70%

SG&A $57M

Depreciation $5M

Other operating $2M

Other expense

$81M

Tax$42M+171.82%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Jun 30 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 18:45 ET

Intraday

Event sensitivity

FOMC ×1.28· ±3.1% vs ±2.4% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±3.1%12 of 24×1.28

PPIproducer prices±3.1%5 of 11×1.27

CPIconsumer prices±2.8%8 of 11×1.15

PCEpersonal income & outlays±2.6%10 of 20×1.08

CPROFcorporate profits±2.6%8 of 12×1.07

GDPgross domestic product±2.4%12 of 20×0.98

NFPjobs report±2.2%4 of 10×0.90

Bar = avg |move| to ±4% · tick = ±2.4% avg day · ×base = |move| ÷ ±2.4% · min 6 releases

Earnings history

EPS 2.71 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 5 '26 · confirmed	2.71	—
Q1 FY26	Apr 29 '26 · confirmed	-3.34	—
Q3 FY25	Nov 7 '25 · confirmed	2.93	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod