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

Implied ±2.0%, either direction.

How often does Realty Income move more than the options market prices?

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

ONYSEReal Estate Investment Trusts

Realty Income Corp (O) earnings date, market-implied expected move, and options open interest by expiry

56.90

Closed19:48 ET

Open57.35Volume10.0MMkt cap$53.9BP/E41.53EPS1.37Div yield5.70%

Day56.85 – 57.666%52-wk52.90 – 65.9331%

Realty Income Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±2.0%implied · report alone

8Q avg ±1.4%·×1.39·rich

55.7958.07

straddle ±3.6%

spot 56.93exp Nov 20ATM strike 57.5ATM straddle 2.42IV 22%

Oct 30 closereport share · term structure

Expected move

Inputs

Next report

Nov 2

after close · in 1 day

confirmedQ3 FY26

Calendar

Next report

Last report

−0.54%

vs ±2.9% implied · ×0.19

shaded = implied · ▲▼ = realized

Aug 5 '26 · confirmed

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

+3.16%

shares held · 10 largest managers

13F · Jun 30 '26124d lag

1,467 managers

Top fund weight

4.55%

O weight · XLRE

N-PORTJun 30 '26

11 funds

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

Realty Income (O) reports on Nov 2 after close (confirmed date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±3.0%
avg realized: ±1.4%

Nov 4 '24Nov 4 '24confirmed±3.3%▼−0.79%×0.24

Feb 24 '25Feb 24 '25confirmed±3.3%▼−1.87%×0.56

May 5 '25May 5 '25confirmed±2.8%▼−0.26%×0.09

Aug 6 '25Aug 6 '25confirmed±2.4%▲+0.32%×0.13

Q3 FY25Nov 3 '25confirmed±3.3%▼−3.54%×1.07

Q1 FY26Feb 24 '26confirmed±3.7%▼−0.80%×0.22

May 6 '26May 6 '26confirmed±2.5%▼−3.47%×1.38

Q2 FY26Aug 5 '26confirmed±2.9%▼−0.54%×0.19

quarterimplied−5%0+5%realized×

Q2 FY26±2.9%▼−0.54%×0.19

May '26±2.5%▼−3.47%×1.38

Q1 FY26±3.7%▼−0.80%×0.22

Q3 FY25±3.3%▼−3.54%×1.07

Aug '25±2.4%▲+0.32%×0.13

May '25±2.8%▼−0.26%×0.09

2 older reports

Feb '25±3.3%▼−1.87%×0.56

Nov '24±3.3%▼−0.79%×0.24

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

Implied vs realized

Positioning

OI · 4 expiries · Oct 30 close

0.79OI · 4 expiries · Oct 30 closeP/C open interest · Nov 20 · first expiry after the report

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

13,2230%Nov 2019d16,737−3%

14,7480%Dec 1847d0.6821,7840%0.68

18,4740%Jan 1575d0.8023,1070%0.80

7,678+2%Mar 19138d0.809,5430%0.80

ExpiryPutsCallsP/C

Nov 2019d13,2230%16,737−3%0.79

Dec 1847d14,7480%21,7840%0.68

Jan 1575d18,4740%23,1070%0.80

Mar 19138d7,678+2%9,5430%0.80

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

Positioning

Linked exposure

scenario · straddle±3.6%

Funds 4

XLRE±0.2%

VNQ±0.1%

RSP±0.0%

VTV±0.0%

Dashed = straddleMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

25.39%as filednet margin · revenue −1.31% QoQ · +3.46% YoY

Revenue

$1.5B−1.31% QoQ

Gross profit

$1.5B−1.31% QoQ

100.00% margin

Operating income

$269M+11.75% QoQ

18.43% margin

Pre-tax income

$396M+14.17% QoQ

Net income

$371M+15.45% QoQ

25.39% margin

Operating expenses

$1.2B−3.85% QoQ

Depreciation $645M

Other operating $432M

SG&A $58M

Other operating $56M

Tax

$26M−1.48% QoQ

Other income

$127M+19.64% QoQ

Revenue$1.5B−1.31%

Gross profit

$1.5B−1.31%

100.00% margin

Operating income

$269M+11.75%

18.43% margin

Pre-tax income

$396M+14.17%

Net income

$371M+15.45%

25.39% margin

Cost of revenue

Operating expenses

$1.2B−3.85%

Depreciation $645M

Other operating $432M

SG&A $58M

Other income$127M+19.64%

Tax$26M−1.48%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Oct 30 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 19:45 ET

Intraday

Event sensitivity

FOMC ×1.44· ±1.3% vs ±0.9% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±1.3%6 of 24×1.44

PPIproducer prices±1.1%5 of 10×1.21

NFPjobs report±1.0%7 of 10×1.15

PCEpersonal income & outlays±0.9%11 of 19×1.05

GDPgross domestic product±0.9%8 of 19×1.04

CPIconsumer prices±0.8%6 of 10×0.96

CPROFcorporate profits±0.8%4 of 12×0.88

Bar = avg |move| to ±2% · tick = ±0.9% avg day · ×base = |move| ÷ ±0.9% · min 6 releases

Earnings history

EPS 0.37 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 5 '26 · confirmed	0.37	—
Q1 FY26	Feb 24 '26 · confirmed	0.33	—
Q3 FY25	Nov 3 '25 · confirmed	0.35	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod