What move does the options market price into Grand Canyon Education's report?

Implied ±7.5%, either direction.

LOPENasdaqServices-Educational Services

Grand Canyon Education, Inc. (LOPE) earnings date, market-implied expected move, and options open interest by expiry

151.47

+2.74 · +1.84%

Regular session11:40 ET

Open151.52Volume331,097Mkt cap$3.9BP/E18.20EPS8.32

Day150.80 – 151.7371%52-wk134.27 – 187.1033%

LOPE

Grand Canyon Education, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±7.5%implied · straddle

137.51159.95

spot 148.73exp Nov 20ATM strike 150ATM straddle 13.20IV 51%

Nov 3 close

Expected move

Inputs

Next report

Today

after close

confirmedQ3 FY26

Calendar

Next report

Last report

−3.19%

shaded = implied · ▲▼ = realized

Jul 30 '26 · confirmed

Implied vs realized

Largest filed tie

—

13F top-10 QoQ

−5.52%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

450 managers

Top fund weight

0.10%

LOPE weight · MDY

N-PORTJun 30 '26

4 funds

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

Grand Canyon Education (LOPE) reports on Nov 4 after close (confirmed date).

Implied vs realized

1 report

—≥ implied

Q2 FY26Jul 30 '26confirmed—▼−3.19%—

quarterimplied−5%0+5%realized×

Q2 FY26—▼−3.19%—

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

Implied vs realized

Positioning

OI · 3 expiries · Nov 3 close

0.46OI · 3 expiries · Nov 3 closeP/C open interest · Nov 20 · first expiry after the report

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

83+93%Nov 2016d180+38%

245+1%Dec 1844d0.73337+1%0.73

340%Mar 19135d0.28122+6%0.28

ExpiryPutsCallsP/C

Nov 2016d83+93%180+38%0.46

Dec 1844d245+1%337+1%0.73

Mar 19135d340%122+6%0.28

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

Positioning

Linked exposure

scenario · straddle±7.5%

Funds 4

MDY±0.0%

REVS±0.0%

VTI±0.0%

VT±0.0%

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

Linked exposure

Revenue flow

as filedQ2 FY26

17.37%as filednet margin · revenue −14.48% QoQ · +6.69% YoY

Revenue

$264M−14.48% QoQ

Gross profit

$176M−18.87% QoQ

66.65% margin

Operating income

$58M−39.08% QoQ

22.02% margin

Pre-tax income

$61M−38.21% QoQ

Net income

$46M−39.15% QoQ

17.37% margin

Cost of revenue

$88M−4.12% QoQ

Operating expenses

$118M−2.98% QoQ

Marketing $60M

Other operating $46M

SG&A $10M

Other operating $2M

Tax

$15M−35.16% QoQ

Other income

$3M−10.56% QoQ

Revenue$264M−14.48%

Gross profit

$176M−18.87%

66.65% margin

Operating income

$58M−39.08%

22.02% margin

Pre-tax income

$61M−38.21%

Net income

$46M−39.15%

17.37% margin

Cost of revenue

$88M−4.12%

Operating expenses

$118M−2.98%

Marketing $60M

Other operating $46M

SG&A $10M

Other income$3M−10.56%

Tax$15M−35.16%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 11:30 ET

Intraday

Event sensitivity

NFP ×1.53· ±1.9% vs ±1.2% · 10 releases

eventrelease day|move|up · n×base

NFPjobs report±1.9%9 of 10×1.53

FOMCrate decision±1.6%18 of 24×1.32

PPIproducer prices±1.5%6 of 10×1.25

PCEpersonal income & outlays±1.3%9 of 19×1.02

GDPgross domestic product±1.2%9 of 19×0.99

CPROFcorporate profits±1.2%5 of 12×0.97

CPIconsumer prices±1.1%3 of 10×0.93

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

Earnings history

EPS 1.75 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Jul 30 '26 · confirmed	1.75	—
Q1 FY26	—	2.80	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod