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

Implied ±20.0%, either direction · provisional.

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

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

HLFNYSEWholesale-Drugs, Proprietaries & Druggists' Sundries

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

14.38

pre 15.29 +6.30%

Pre-market15:59 ETdelayed

Open14.42Volume3.3MMkt cap$1.5BP/E8.84EPS1.73

Day14.42 – 15.4484%52-wk7.94 – 20.4059%

HLF

Herbalife Ltd.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±20.0%implied · straddle

12.2518.37

spot 15.31exp Feb 19ATM strike 15ATM straddle 3.60IV 55%

Nov 4 closeprovisional

Expected move

Inputs

Next report

Feb 17

after close · in 104 days

est.Q4 FY26

Calendar

Next report

Last report

+8.28%

vs ±11.7% implied · ×0.71

shaded = implied · ▲▼ = realized

Nov 2 '26 · confirmedthin chain

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

+5.88%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

240 managers

Top fund weight

0.04%

HLF weight · IWM

N-PORTJun 30 '26

3 funds

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

Herbalife (HLF) is expected to report on Feb 17 after close (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±11.9%
avg realized: ±10.1%

Apr 30 '25Apr 30 '25confirmed±13.5%▼−7.92%×0.59

Aug 6 '25Aug 6 '25confirmed±14.6%▼−6.81%×0.47

Q3 FY25Nov 5 '25confirmed±13.7%▲+11.65%×0.85

Feb 18 '26Feb 18 '26confirmed±12.9%▲+18.32%×1.41

Q1 FY26Apr 14 '26confirmed±4.4%▲+7.34%×1.68

May 6 '26May 6 '26confirmed±12.0%▼−11.86%×0.99

Q2 FY26Aug 5 '26confirmed±12.8%▼−8.65%×0.67

Q3 FY26Nov 2 '26confirmed±11.7%thin chain▲+8.28%×0.71

quarterimplied−20%0+20%realized×

Q3 FY26±11.7%▲+8.28%×0.71

Q2 FY26±12.8%

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

Implied vs realized

Positioning

OI · 8 expiries · Nov 3 close

1.09OI · 8 expiries · Nov 3 closeP/C open interest · Feb 19 · first expiry after the report

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

5 nearer expiries

144+860%Nov 61d0.081,873+27%0.08

136+5%Nov 138d0.111,190+16%0.11

1,2180%Nov 2015d0.661,859+37%0.66

125+303%Nov 2722d0.101,301+108%0.10

0—Dec 429d0.00550—0.00

6,7750%Dec 1843d1.205,6330%1.20

11,1020%Jan 1571d0.1764,935+1%0.17

report · Feb 17 · after close · est.

ExpiryPutsCallsP/C

5 nearer expiries

Nov 61d144+860%1,873+27%0.08

Nov 138d136+5%1,190+16%0.11

Nov 2015d1,2180%1,859

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

Positioning

Linked exposure

scenario · straddle±20.0%

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 filedQ3 FY26

4.23%as filednet margin · revenue +1.76% QoQ · +6.01% YoY

Revenue

$1.4B+1.76% QoQ

Gross profit

$1.0B+1.32% QoQ

77.33% margin

Operating income

$139M+7.95% QoQ

10.26% margin

Pre-tax income

$107M+2981.08% QoQ

Net income

$57M+315.47% QoQ

4.23% margin

Cost of revenue

$306M+3.31% QoQ

Operating expenses

$906M+0.38% QoQ

Other expense

$32M

Tax

$50M+117.11% QoQ

Revenue$1.4B+1.76%

Gross profit

$1.0B+1.32%

77.33% margin

Operating income

$139M+7.95%

10.26% margin

Pre-tax income

$107M+2981.08%

Net income

$57M+315.47%

4.23% margin

Cost of revenue

$306M+3.31%

Operating expenses

$906M+0.38%

Other expense

$32M

Tax$50M+117.11%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

PPI ×1.33· ±3.6% vs ±2.7% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±3.6%7 of 10×1.33

CPROFcorporate profits±2.5%6 of 12×0.91

GDPgross domestic product±2.4%9 of 19×0.90

NFPjobs report±2.4%6 of 10×0.89

PCEpersonal income & outlays±2.4%11 of 19×0.88

FOMCrate decision±2.2%6 of 24×0.80

CPIconsumer prices±1.8%4 of 10×0.68

Bar = avg |move| to ±4% · tick = ±2.7% avg day · ×base = |move| ÷ ±2.7% · min 6 releases

Earnings history

EPS 0.55 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Nov 2 '26 · confirmed	0.55	—
Q2 FY26	Aug 5 '26 · confirmed	-0.25	—
Q1 FY26	Apr 14 '26 · confirmed	0.57	—
Q3 FY25	Nov 5 '25 · confirmed	0.42	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod