MAC as of Oct 31 · 09:05 ET

MACNYSEReal Estate Investment Trusts

Macerich Co · Brief

Next report

3 days

Nov 3 · after closeest.Q3 FY26

Earnings

Expected move

Inputs

±4.4%implied · report alone

23.2825.40

straddle ±6.3%

spot 24.34exp Nov 20ATM strike 24ATM straddle 1.80IV 38%

Oct 30 closereport share · term structure

Expected move

Inputs

Implied vs realized

8 reportsHistory

2 of 8≥ implied

avg implied: ±6.3%
avg realized: ±4.2%

Nov 6 '24±5.9%▼−1.74%×0.30

Feb 27 '25±5.2%▼−8.95%×1.71

May 12 '25±4.7%▲+10.41%×2.22

Aug 11 '25±4.7%▲+4.62%×0.98

Q3 FY25±5.1%▼−0.17%×0.03

Feb 18 '26±3.8%▲+3.24%×0.86

Q1 FY26±11.9%▼−3.87%×0.32

Q2 FY26±9.1%▼−0.90%×0.10

quarterimplied−15%0+15%realized×

Q2 FY26±9.1%▼−0.90%×0.10

Q1 FY26±11.9%▼−3.87%×0.32

Feb '26±3.8%▲+3.24%×0.86

Q3 FY25±5.1%▼−0.17%×0.03

Aug '25±4.7%▲+4.62%×0.98

May '25±4.7%▲+10.41%×2.22

2 older reports

Feb '25±5.2%▼−8.95%×1.71

Nov '24±5.9%▼−1.74%×0.30

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

Bull & bear

Nov 3 report · est.

Bull2 of 3

+19.12%change in shares held by the ten largest reporting managers over the latest quarter13F · Jun 30 '26

349managers reporting a position in the latest quarterly filings13F · Jun 30 '26

Bear2 of 4

4 of 23of the largest reporting managers cut their stake in the latest quarter13F · Jun 30 '26

6 of 8recent reports where the move came in under the options-implied rangeEarnings history

AI captions · Sep 28 '26once per report · top 2 per case

Linked exposure

MAC report session

Customers 4

AEOAE Outfitters Retail×0.66 MMacy's×0.61 ANFAbercrombie & Fitch×0.59 DKSDick's Sporting Goods×0.54

× = co-movement · max 501dSource: SEC filings · market data

Latest changes

30 daysAll changes

Oct 20impliedImplied move: ±5.7% into Nov 3 earnings (Oct 20 close).Source

Your note

privateThesis 0 · Decisions 0 · Observations 0

No thesis.