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

Implied ±10.1%, either direction.

How often does Plug Power move more than the options market prices?

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

PLUGNasdaqElectrical Industrial Apparatus

Plug Power Inc (PLUG) earnings date, market-implied expected move, and options open interest by expiry

1.43

+0.11 · +8.78%

post 1.42 −0.35%

Closed19:45 ET

Open1.32Volume44.1MMkt cap$1.8BEPS-1.33

Day1.32 – 1.4391%52-wk1.30 – 4.334%

PLUG

Plug Power Inc

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±10.1%implied · report alone

8Q avg ±9.6%·×1.04·fair

1.271.55

straddle ±14.8%

spot 1.41exp Nov 13ATM strike 1.5ATM straddle 0.25IV 124%

Nov 3 closereport share · term structure

Expected move

Inputs

Next report

Nov 9

after close · in 6 days

est.Q3 FY26

Calendar

Next report

Last report

+5.21%

vs ±12.7% implied · ×0.41

shaded = implied · ▲▼ = realized

Aug 10 '26 · confirmed

Implied vs realized

Largest filed tie

24.20%

of PLUG revenue · Walmart, Inc. ("Walmart")

customerPLUG 10-K

Supply chain

Largest filed tie

13F top-10 QoQ

+4.93%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

512 managers

Top fund weight

0.12%

PLUG weight · IWM

N-PORTJun 30 '26

4 funds

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

Plug Power (PLUG) is expected to report on Nov 9 after close (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±15.8%
avg realized: ±9.6%

Mar 3 '25Mar 3 '25confirmed±13.2%▲+8.00%×0.61

Apr 28 '25Apr 28 '25confirmed±21.8%▲+25.68%×1.18

May 12 '25May 12 '25confirmed±16.8%▼−10.17%×0.60

Aug 11 '25Aug 11 '25confirmed±15.0%▼−2.53%×0.17

Q3 FY25Nov 10 '25confirmed±13.9%▼−1.17%×0.08

Q1 FY26Mar 2 '26confirmed±14.1%▲+23.20%×1.65

May 11 '26May 11 '26confirmed±18.8%▲+1.14%×0.06

Q2 FY26Aug 10 '26confirmed±12.7%▲+5.21%×0.41

quarterimplied−30%0+30%realized×

Q2 FY26±12.7%▲+5.21%×0.41

May '26±18.8%

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

Implied vs realized

Positioning

OI · 8 expiries · Nov 2 close

0.19OI · 8 expiries · Nov 2 closeP/C open interest · Nov 13 · first expiry after the report

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

883+119%Nov 63d0.127,335+34%0.12

report · Nov 9 · after close · est.

902+25%Nov 1310d4,741+39%

6,4360%Nov 2017d0.4015,944+31%0.40

832+4%Nov 2724d0.263,153+50%0.26

4 later expiries

9—Dec 431d0.02432—0.02

40,604+2%Dec 1845d0.60

ExpiryPutsCallsP/C

Nov 63d883+119%7,335+34%0.12

report · Nov 9 · after close · est.

Nov 1310d902+25%4,741+39%0.19

Nov 2017d6,4360%

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

Positioning

Linked exposure

scenario · straddle±14.8%

Funds 4

IWM±0.0%

UWM±0.0%

VTI±0.0%

VT±0.0%

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

Linked exposure

Revenue flow

as filedQ2 FY26

−106.62%as filednet margin · revenue +9.04% QoQ · +2.49% YoY

Revenue$178M+9.04%

Gross profit−$2M−0.94%+92.25%

Operating income−$64M−35.96%+41.45%

Pre-tax income−$190M+22.81%

Net income−$190M−106.62%+22.73%

Cost of revenue$180M−2.78%

Operating expenses$62M−28.96%

Tax$207,000+404.88%

Other expense−$126M+7.85%

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 · 19:45 ET

Intraday

Event sensitivity

FOMC ×1.04· ±4.8% vs ±4.6% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±4.8%11 of 24×1.04

PCEpersonal income & outlays±4.5%4 of 19×0.98

PPIproducer prices±4.4%4 of 10×0.95

GDPgross domestic product±4.4%6 of 19×0.94

NFPjobs report±3.9%4 of 10×0.85

CPROFcorporate profits±3.9%5 of 12×0.84

CPIconsumer prices±2.5%6 of 10×0.54

Bar = avg |move| to ±5% · tick = ±4.6% avg day · ×base = |move| ÷ ±4.6% · min 6 releases

Earnings history

EPS -0.14 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 10 '26 · confirmed	-0.14	—
Q1 FY26	Mar 2 '26 · confirmed	-0.18	—
Q3 FY25	Nov 10 '25 · confirmed	-0.31	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod