What move does the options market price into Extra Space Storage's report?

Implied ±9.4%, either direction · provisional.

How often does Extra Space Storage move more than the options market prices?

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

EXRNYSEReal Estate Investment Trusts

Extra Space Storage Inc. (EXR) earnings date, market-implied expected move, and options open interest by expiry

149.87

−0.03 · −0.02%

post 151.42 +1.03%

Closed15:59 ET

Open151.48Volume1.7MMkt cap$31.6BP/E30.84EPS4.91Div yield4.28%

Day151.11 – 152.3525%52-wk120.04 – 157.0385%

EXR

Extra Space Storage Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±9.4%implied · straddle

137.08165.56

spot 151.32exp Mar 19ATM strike 150ATM straddle 16.75IV 23%

Oct 30 closeprovisional

Expected move

Inputs

Next report

Feb 18

after close · in 109 days

est.Q4 FY26

Calendar

Next report

Last report

+0.14%

vs ±4.7% implied · ×0.03

shaded = implied · ▲▼ = realized

Oct 27 '26 · confirmed

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

−2.95%

shares held · 10 largest managers

13F · Jun 30 '26124d lag

799 managers

Top fund weight

3.18%

EXR weight · XLRE

N-PORTJun 30 '26

10 funds

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

Extra Space Storage (EXR) is expected to report on Feb 18 after close (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±4.9%
avg realized: ±3.6%

Feb 25 '25Feb 25 '25confirmed±5.5%▼−4.57%×0.84

Apr 29 '25Apr 29 '25confirmed±5.5%▲+3.60%×0.66

Jul 30 '25Jul 30 '25confirmed±4.1%▼−10.03%×2.43

Oct 29 '25Oct 29 '25confirmed±5.8%▼−4.91%×0.84

Feb 19 '26Feb 19 '26confirmed±3.3%▲+4.56%×1.38

Q1 FY26Apr 28 '26confirmed±4.9%▼−0.35%×0.07

Q2 FY26Jul 28 '26confirmed±5.5%▲+0.42%×0.08

Q3 FY26Oct 27 '26confirmed±4.7%▲+0.14%×0.03

quarterimplied−15%0+15%realized×

Q3 FY26±4.7%▲+0.14%×0.03

Q2 FY26±5.5%

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

Implied vs realized

Positioning

OI · 3 expiries · Oct 30 close

0.74OI · 3 expiries · Oct 30 closeP/C open interest · Mar 19 · first expiry after the report

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

2,344+1%Nov 2019d2.87818+3%2.87

1,251−1%Dec 1847d0.851,475+1%0.85

report · Feb 18 · after close · est.

166+1%Mar 19138d224+56%

ExpiryPutsCallsP/C

Nov 2019d2,344+1%818+3%2.87

Dec 1847d1,251−1%1,475+1%0.85

report · Feb 18 · after close · est.

Mar 19138d166+1%

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

Positioning

Linked exposure

scenario · straddle±9.4%

Funds 4

XLRE±0.3%

VNQ±0.2%

RSP±0.0%

VTV±0.0%

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

Linked exposure

Revenue flow

as filedQ3 FY26

29.16%as filednet margin · revenue +1.79% QoQ · +3.65% YoY

Revenue

$890M+1.79% QoQ

Gross profit

$651M+1.33% QoQ

73.16% margin

Operating income

$392M−0.08% QoQ

44.04% margin

Pre-tax income

$268M−1.15% QoQ

Net income

$259M−5.96% QoQ

29.16% margin

Cost of revenue

$239M+3.07% QoQ

Operating expenses

$259M+3.53% QoQ

Depreciation $190M

SG&A $46M

Other operating $18M

Other operating $6M

Other expense

$123M

Tax

$12M+0.01% QoQ

Revenue$890M+1.79%

Gross profit

$651M+1.33%

73.16% margin

Operating income

$392M−0.08%

44.04% margin

Pre-tax income

$268M−1.15%

Net income

$259M−5.96%

29.16% margin

Cost of revenue

$239M+3.07%

Operating expenses

$259M+3.53%

Depreciation $190M

SG&A $46M

Other operating $18M

Other expense

$123M

Tax$12M+0.01%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Oct 30 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 15:45 ET

Intraday

Event sensitivity

PCE ×1.50· ±1.8% vs ±1.2% · 19 releases

eventrelease day|move|up · n×base

PCEpersonal income & outlays±1.8%11 of 19×1.50

FOMCrate decision±1.7%9 of 24×1.40

PPIproducer prices±1.4%6 of 10×1.14

GDPgross domestic product±1.4%11 of 19×1.13

NFPjobs report±0.9%5 of 10×0.71

CPIconsumer prices±0.8%7 of 10×0.68

CPROFcorporate profits±0.8%7 of 12×0.67

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

Earnings history

EPS 1.17 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Oct 27 '26 · confirmed	1.17	—
Q2 FY26	Jul 28 '26 · confirmed	1.25	—
Q1 FY26	Apr 28 '26 · confirmed	1.14	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod