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

Implied ±25.4%, either direction · provisional.

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

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

FLEXNasdaqPrinted Circuit Boards

Flex Ltd. (FLEX) earnings date, market-implied expected move, and options open interest by expiry

86.53

−6.54 · −7.03%

post 86.42 −0.13%

Closed17:59 ET

Open88.90Volume4.4MMkt cap$32.0BP/E30.75EPS2.81

Day85.10 – 89.7229%52-wk53.07 – 166.8629%

FLEX

Flex Ltd.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±25.4%implied · straddle

64.55108.41

spot 86.48exp Feb 19ATM strike 85ATM straddle 25.80IV 69%

Oct 30 closeprovisional

Expected move

Inputs

Next report

Feb 3

before open · in 95 days

est.Q3 FY27

Calendar

Next report

Last report

+11.61%

vs ±15.0% implied · ×0.77

shaded = implied · ▲▼ = realized

Oct 28 '26 · confirmed

Implied vs realized

Largest filed tie

2.30%

of GSI Technology revenue

supplierGSIT 10-K

Supply chain

Largest filed tie

13F top-10 QoQ

+1.16%

shares held · 10 largest managers

13F · Jun 30 '26124d lag

1,126 managers

Top fund weight

0.33%

FLEX weight · XLK

N-PORTJun 30 '26

9 funds

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

Flex (FLEX) is expected to report on Feb 3 before open (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±10.7%
avg realized: ±10.9%

Jan 29 '25Jan 29 '25confirmed±8.9%▲+2.27%×0.26

May 7 '25May 7 '25confirmed±7.6%▲+3.21%×0.42

Jul 24 '25Jul 24 '25confirmed±7.9%▼−7.68%×0.97

Oct 29 '25Oct 29 '25confirmed±10.3%▲+2.86%×0.28

Q3 FY26Feb 4 '26confirmed±8.2%▼−10.85%×1.32

Q4 FY26May 5 '26confirmed±10.0%▲+39.69%×3.95

Q1 FY27Jul 29 '26confirmed±17.4%▼−9.06%×0.52

Q2 FY27Oct 28 '26confirmed±15.0%▲+11.61%×0.77

quarterimplied−40%0+40%realized×

Q2 FY27±15.0%▲+11.61%×0.77

Q1 FY27±17.4%

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

Implied vs realized

Positioning

OI · 5 expiries · Oct 30 close

0.49OI · 5 expiries · Oct 30 closeP/C open interest · Feb 19 · first expiry after the report

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

9,214+9%Nov 2020d0.3824,147+32%0.38

937+17%Dec 1848d0.352,676+38%0.35

5,409+13%Jan 1576d0.3714,714+11%0.37

report · Feb 3 · before open · est.

1,650+7%Feb 19111d3,379+1%

343+27%Apr 16167d0.221,580+7%0.22

ExpiryPutsCallsP/C

Nov 2020d9,214+9%24,147+32%0.38

Dec 1848d937+17%2,676+38%0.35

Jan 1576d5,409+13%14,714+11%0.37

report · Feb 3 · before open · est.

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

Positioning

Linked exposure

scenario · straddle±25.4%

Funds 4

XLK±0.1%

RSP±0.0%

VUG±0.0%

VOO±0.0%

Customers 2

ANET±9.7%×0.38

AMZN±4.5%×0.18

Dashed = straddle · × = co-movement · max 501dMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY27

3.10%as filednet margin · revenue +7.10% QoQ · +24.79% YoY

Revenue

$8.5B+7.10% QoQ

Gross profit

$812M+8.70% QoQ

9.56% margin

Operating income

$414M+5.61% QoQ

4.88% margin

Pre-tax income

$370M−1.86% QoQ

Net income

$263M−7.72% QoQ

3.10% margin

Cost of revenue

$7.7B+6.93% QoQ

Operating expenses

$398M+12.11% QoQ

SG&A $371M

Other operating $27M

Other expense

$44M

Tax

$107M+16.30% QoQ

Revenue$8.5B+7.10%

Gross profit

$812M+8.70%

9.56% margin

Operating income

$414M+5.61%

4.88% margin

Pre-tax income

$370M−1.86%

Net income

$263M−7.72%

3.10% margin

Cost of revenue

$7.7B+6.93%

Operating expenses

$398M+12.11%

SG&A $371M

Other operating $27M

Other expense

$44M

Tax$107M+16.30%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Sep 25 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Oct 30 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 17:45 ET

Intraday

Event sensitivity

NFP ×1.88· ±4.1% vs ±2.2% · 10 releases

eventrelease day|move|up · n×base

NFPjobs report±4.1%5 of 10×1.88

Quarter	Reported	EPS	Consensus
Q2 FY27	Oct 28 '26 · confirmed	0.70	—
Q1 FY27	Jul 29 '26 · confirmed	0.76	—
Q4 FY26	May 5 '26 · confirmed	0.67	—
Q3 FY26	Feb 4 '26 · confirmed	0.64	—

Flex Ltd. (FLEX) earnings date, market-implied expected move, and options open interest by expiry

Implied vs realized

Implied vs realized

Positioning

Positioning

Linked exposure

Linked exposure

Revenue flow

Revenue flow

Intraday

Intraday

Event sensitivity

Implied vs realized

Event sensitivity

Earnings history

Methodology

Positioning

Flex Ltd. (FLEX) earnings date, market-implied expected move, and options open interest by expiry

Revenue flow

Intraday

Linked exposure