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

Implied ±8.9%, either direction.

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

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

MARANasdaqFinance Services

MARA Holdings, Inc. (MARA) earnings date, market-implied expected move, and options open interest by expiry

7.16

pre 7.09 −0.98%

Pre-market05:12 ETdelayed

Open7.04Volume35.9MMkt cap$2.8B

Day7.04 – 7.09100%52-wk6.37 – 18.046%

MARA

MARA Holdings, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±8.9%implied · report alone

8Q avg ±6.6%·×1.34·rich

6.537.79

straddle ±14.5%

spot 7.16exp Nov 13ATM strike 7ATM straddle 1.22IV 130%

Nov 3 closereport share · term structure

Expected move

Inputs

Next report

Nov 12

before open · in 8 days

est.Q3 FY26

Calendar

Next report

Last report

−5.26%

vs ±7.5% implied · ×0.70

shaded = implied · ▲▼ = realized

Aug 6 '26 · confirmed

Implied vs realized

Largest filed tie

—

13F top-10 QoQ

+1.07%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

430 managers

Top fund weight

3.97%

MARA weight · BCOR

N-PORTJun 30 '26

5 funds

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

MARA (MARA) is expected to report on Nov 12 before open (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±8.5%
avg realized: ±6.6%

Nov 12 '24Nov 12 '24confirmed±12.9%▼−13.99%×1.09

Feb 26 '25Feb 26 '25confirmed±9.4%▲+5.46%×0.58

May 9 '25May 9 '25confirmed±5.6%▲+10.29%×1.85

Jul 29 '25Jul 29 '25confirmed±7.0%▼−0.36%×0.05

Q3 FY25Nov 4 '25confirmed±8.8%▼−6.68%×0.76

Q1 FY26Feb 26 '26confirmed±7.3%▲+5.80%×0.80

May 11 '26May 11 '26confirmed±9.3%▼−5.00%×0.54

Q2 FY26Aug 6 '26confirmed±7.5%▼−5.26%×0.70

quarterimplied−15%0+15%realized×

Q2 FY26±7.5%▼−5.26%×0.70

May '26±9.3%

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

Implied vs realized

Positioning

OI · 9 expiries · Nov 2 close

0.79OI · 9 expiries · Nov 2 closeP/C open interest · Nov 13 · first expiry after the report

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

31,096+51%Nov 62d0.24128,848+287%0.24

report · Nov 12 · before open · est.

25,795+67%Nov 139d32,686+4%

59,722+1%Nov 2016d0.59100,4530%0.59

6,441+5651%Nov 2723d0.5012,855+7598%0.50

5 later expiries

3,578+47%Dec 430d0.705,143+10%0.70

167—Dec 1137d4.91

ExpiryPutsCallsP/C

Nov 62d31,096+51%128,848+287%0.24

report · Nov 12 · before open · est.

Nov 139d25,795+67%32,686+4%0.79

Nov 2016d59,722+1%

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

Positioning

Linked exposure

scenario · straddle±14.5%

Funds 4

BCOR±0.6%

IWM±0.0%

UWM±0.0%

VTI±0.0%

Dashed = straddleMethod 1 more fund Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

−349.56%as filednet margin · revenue +0.15% QoQ · −26.67% YoY

Revenue$175M+0.15%

Gross profit−$219M−125.51%−35.19%

Operating income−$521M−297.96%+50.91%

Pre-tax income−$611M+52.78%

Net income−$611M−349.56%+51.57%

Cost of revenue$394M+17.03%

Operating expenses$300M−66.66%

Tax$580,000+101.88%

Other expense−$91M+60.56%

Source: SEC filings · standardized · QE Jun 30 '26 · bars = % of revenue

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 05:00 ET

Intraday

Event sensitivity

PCE ×1.09· ±4.8% vs ±4.4% · 19 releases

eventrelease day|move|up · n×base

PCEpersonal income & outlays±4.8%7 of 19×1.09

GDPgross domestic product±4.5%8 of 19×1.02

NFPjobs report±4.1%2 of 10×0.93

FOMCrate decision±3.6%8 of 24×0.82

PPIproducer prices±3.3%6 of 10×0.76

CPIconsumer prices±3.2%3 of 10×0.73

CPROFcorporate profits±2.9%3 of 12×0.66

Bar = avg |move| to ±5% · tick = ±4.4% avg day · ×base = |move| ÷ ±4.4% · min 6 releases

Earnings history

EPS -1.60 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 6 '26 · confirmed	-1.60	—
Q1 FY26	Feb 26 '26 · confirmed	-3.31	—
Q3 FY25	Nov 4 '25 · confirmed	0.27	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod