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

Implied ±12.6%, either direction · provisional.

FWONKNasdaqTelevision Broadcasting Stations

Liberty Media Corp (FWONK) earnings date, market-implied expected move, and options open interest by expiry

106.38

−0.14 · −0.13%

post 107.40 +0.96%

After hours16:00 ETdelayed

Open105.60Volume527,886Mkt cap$25.0BP/E44.82

Day102.00 – 107.40100%52-wk73.70 – 101.20100%

FWONK

Liberty Media Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±12.6%implied · straddle

93.78120.72

spot 107.25exp Mar 19ATM strike 105ATM straddle 15.85IV 31%

Nov 6 closeprovisional

Expected move

Inputs

Next report

Feb 25

after close · in 111 days

est.Q4 FY26

Calendar

Next report

Last report

Nov 5

after close

confirmedQ3 FY26Nov 5 close

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

+0.94%

shares held · 10 largest managers

13F · Jun 30 '26129d lag

627 managers

Top fund weight

0.59%

FWONK weight · FTC

N-PORTJul 31 '26

3 funds

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

Liberty Media (FWONK) is expected to report on Feb 25 after close (estimated date).

Implied vs realized

1 report

—≥ implied

Q2 FY26Aug 6 '26confirmed±5.1%▲+3.17%×0.62

quarterimplied−10%0+10%realized×

Q2 FY26±5.1%▲+3.17%×0.62

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

Implied vs realized

Positioning

OI · 6 expiries · Nov 5 close

2.31OI · 6 expiries · Nov 5 closeP/C open interest · Mar 19 · first expiry after the report

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

2 nearer expiries

5,197+37%Nov 2014d0.4711,1040%0.47

4,6300%Dec 1842d0.3613,014−22%0.36

0—Jan 1570d0.00172+1%0.00

1,231+10%Feb 19105d0.0718,141+19%0.07

ExpiryPutsCallsP/C

2 nearer expiries

Nov 2014d5,197+37%11,1040%0.47

Dec 1842d4,6300%13,014−22%0.36

Jan 1570d0—

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

Positioning

Linked exposure

scenario · straddle±12.6%

Funds 3

FTC±0.1%

VTI±0.0%

VT±0.0%

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

Linked exposure

Revenue flow

as filedQ3 FY26

13.21%as filednet margin · revenue +31.26% QoQ

Revenue

$1.2B+31.26% QoQ

Gross profit

$494M+50.15% QoQ

40.29% margin

Operating income

$237M+169.32% QoQ

19.33% margin

Pre-tax income

$244M+639.39% QoQ

Net income

$162M+1925.00% QoQ

13.21% margin

Cost of revenue

$732M+20.99% QoQ

Operating expenses

$257M+6.64% QoQ

SG&A $147M

Depreciation $110M

Tax

$82M+228.00% QoQ

Other income

$7M+112.73% QoQ

Revenue$1.2B+31.26%

Gross profit

$494M+50.15%

40.29% margin

Operating income

$237M+169.32%

19.33% margin

Pre-tax income

$244M+639.39%

Net income

$162M+1925.00%

13.21% margin

Cost of revenue

$732M+20.99%

Operating expenses

$257M+6.64%

SG&A $147M

Depreciation $110M

Other income$7M+112.73%

Tax$82M+228.00%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 6 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

PPI ×1.36· ±1.6% vs ±1.2% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±1.6%5 of 10×1.36

FOMCrate decision±1.2%11 of 24×1.00

PCEpersonal income & outlays±1.2%8 of 19×1.00

NFPjobs report±1.2%5 of 10×0.96

GDPgross domestic product±1.1%9 of 19×0.88

CPIconsumer prices±1.0%7 of 10×0.81

CPROFcorporate profits±0.7%6 of 12×0.61

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

Earnings history

EPS — · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	—	—	—
Q2 FY26	Aug 6 '26 · confirmed	—	—
Q1 FY26	—	—	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod