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

Implied ±6.3%, either direction.

How often does Pure Cycle move more than the options market prices?

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

PCYONasdaqWater Supply

Pure Cycle Corp (PCYO) earnings date, market-implied expected move, and options open interest by expiry

10.75

+0.21 · +1.97%

Regular session13:31 ET

Open10.71Volume118,537Mkt cap$256.2MP/E17.34EPS0.62

Day10.71 – 10.7595%52-wk9.71 – 12.4438%

PCYO

Pure Cycle Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±6.3%implied · straddle

9.8811.20

spot 10.54exp Nov 20ATM strike 10ATM straddle 0.78IV 35%

Nov 3 close

Expected move

Inputs

Next report

Nov 12

before open · in 8 days

est.Q4 FY26

Calendar

Next report

Last report

+1.41%

vs ±8.0% implied · ×0.18

shaded = implied · ▲▼ = realized

Jul 9 '26 · confirmed

Implied vs realized

Linked news

5dLEN · customerLennar ups revolver to $3.795 billion, extends Class A maturity to Nov 2031
6dDHI · customerHorton posts fiscal 2026 net income $2,889.4 million, Q4 $741.8 million; raises dividend to $0.50
26dKBH · customerKB HOME DECLARES FOURTH QUARTER 2026 DIVIDEND

News

Largest filed tie

13F top-10 QoQ

−0.88%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

117 managers

Top fund weight

0.01%

PCYO weight · IWM

N-PORTJun 30 '26

3 funds

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

Pure Cycle (PCYO) is expected to report on Nov 12 before open (estimated date).

Implied vs realized

8 reports

0 of 8≥ implied

avg implied: ±14.9%
avg realized: ±3.8%

Nov 14 '24Nov 14 '24confirmed±19.0%▲+11.64%×0.61

Jan 10 '25Jan 10 '25confirmed±13.5%▼−3.42%×0.25

Apr 10 '25Apr 10 '25confirmed±11.8%▼−4.55%×0.39

Jul 10 '25Jul 10 '25confirmed±8.7%▼−2.26%×0.26

Nov 13 '25Nov 13 '25confirmed±21.3%▼−1.60%×0.08

Jan 8 '26Jan 8 '26confirmed±11.9%▲+4.78%×0.40

Q2 FY26Apr 9 '26confirmed±24.8%▲+0.94%×0.04

Q3 FY26Jul 9 '26confirmed±8.0%▲+1.41%×0.18

quarterimplied−25%0+25%realized×

Q3 FY26±8.0%▲+1.41%×0.18

Q2 FY26±24.8%

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

Implied vs realized

Positioning

OI · 3 expiries · Oct 30 close

1.33OI · 3 expiries · Oct 30 closeP/C open interest · Nov 20 · first expiry after the report

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

1250%Nov 2016d94+52%

2650%Dec 1844d2.171220%2.17

97−10%Mar 19135d0.146800%0.14

ExpiryPutsCallsP/C

Nov 2016d1250%94+52%1.33

Dec 1844d2650%1220%2.17

Mar 19135d97−10%6800%0.14

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

Positioning

Linked exposure

scenario · straddle±6.3%

Funds 3

IWM±0.0%

UWM±0.0%

VTI±0.0%

Customers 4

KBH±2.5%×0.40

TMHC±2.4%×0.39

DHI±2.1%×0.33

Dashed = straddle · × = co-movement · max 500dMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ3 FY26

35.86%as filednet margin · revenue +59.06% QoQ · +59.96% YoY

Revenue

$8M+59.06% QoQ

Gross profit

$4M+53.92% QoQ

52.12% margin

Operating income

$2M+703.80% QoQ

25.71% margin

Pre-tax income

$4M+158.13% QoQ

Net income

$3M+166.79% QoQ

35.86% margin

Cost of revenue

$4M+65.07% QoQ

Operating expenses

$2M−13.88% QoQ

SG&A $2M

Depreciation $231,000

Tax

$955,000+134.64% QoQ

Other income

$2M+43.23% QoQ

Revenue$8M+59.06%

Gross profit

$4M+53.92%

52.12% margin

Operating income

$2M+703.80%

25.71% margin

Pre-tax income

$4M+158.13%

Net income

$3M+166.79%

35.86% margin

Cost of revenue

$4M+65.07%

Operating expenses

$2M−13.88%

SG&A $2M

Depreciation $231,000

Other income$2M+43.23%

Tax$955,000+134.64%

flow · deduction · inflow · signed % = QoQSource: SEC filings · standardized · QE May 31 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 13:30 ET

Intraday

Event sensitivity

CPI ×1.42· ±2.0% vs ±1.4% · 10 releases

eventrelease day|move|up · n×base

CPIconsumer prices±2.0%3 of 10×1.42

FOMCrate decision±1.7%13 of 24×1.22

GDPgross domestic product±1.6%11 of 19×1.15

PCEpersonal income & outlays±1.6%12 of 19×1.12

CPROFcorporate profits±1.5%7 of 12×1.08

NFPjobs report±1.3%4 of 10×0.92

PPIproducer prices±1.2%4 of 10×0.82

Bar = avg |move| to ±2% · tick = ±1.4% avg day · ×base = |move| ÷ ±1.4% · min 6 releases

Earnings history

EPS 0.12 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Jul 9 '26 · confirmed	0.12	—
Q2 FY26	Apr 9 '26 · confirmed	0.05	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod