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

Implied ±12.3%, either direction.

How often does Portillo's move more than the options market prices?

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

PTLONasdaqRetail-Eating Places

Portillo's Inc. (PTLO) earnings date, market-implied expected move, and options open interest by expiry

5.18

Pre-market16:00 ETdelayed

Open5.25Volume2.8MMkt cap$393.4MP/E27.26EPS0.19

Day5.13 – 5.2736%52-wk3.29 – 6.6956%

PTLO

Portillo's Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±12.3%implied · straddle

4.545.82

spot 5.18exp Nov 20ATM strike 5ATM straddle 0.75IV 82%

Nov 2 close

Expected move

Inputs

Next report

Today

before open

est.Q3 FY26

Calendar

Next report

Last report

−6.21%

vs ±13.5% implied · ×0.46

shaded = implied · ▲▼ = realized

Aug 5 '26 · confirmed

Implied vs realized

Largest filed tie

—

13F top-10 QoQ

+0.75%

shares held · 10 largest managers

13F · Jun 30 '26126d lag

169 managers

Top fund weight

0.01%

PTLO weight · IWM

N-PORTJun 30 '26

3 funds

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

Portillo's (PTLO) is expected to report on Nov 3 before open (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±11.7%
avg realized: ±9.1%

Nov 5 '24Nov 5 '24confirmed±9.8%▼−1.17%×0.12

Feb 25 '25Feb 25 '25confirmed±10.5%▲+9.80%×0.94

May 6 '25May 6 '25confirmed±10.2%▲+0.67%×0.07

Aug 5 '25Aug 5 '25confirmed±11.8%▼−23.29%×1.97

Nov 4 '25Nov 4 '25confirmed±13.6%▼−7.25%×0.53

Q1 FY26Feb 24 '26confirmed±13.5%▼−7.94%×0.59

May 5 '26May 5 '26confirmed±10.8%▼−16.35%×1.52

Q2 FY26Aug 5 '26confirmed±13.5%▼−6.21%×0.46

quarterimplied−25%0+25%realized×

Q2 FY26±13.5%▼−6.21%×0.46

May '26±10.8%▼−16.35%×1.52

Q1 FY26±13.5%▼−7.94%×0.59

Nov '25±13.6%▼−7.25%×0.53

Aug '25±11.8%▼−23.29%×1.97

May '25±10.2%▲+0.67%×0.07

2 older reports

Feb '25±10.5%▲+9.80%×0.94

Nov '24±9.8%▼−1.17%×0.12

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

Implied vs realized

Positioning

OI · 4 expiries · Nov 2 close

0.62OI · 4 expiries · Nov 2 closeP/C open interest · Nov 20 · first expiry after the report

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

2,3680%Nov 2017d3,828−3%

214+1429%Dec 1845d1.10195+6%1.10

4,7050%Jan 1573d0.1628,609+1%0.16

1,571−2%Feb 19108d2.526240%2.52

ExpiryPutsCallsP/C

Nov 2017d2,3680%3,828−3%0.62

Dec 1845d214+1429%195+6%1.10

Jan 1573d4,7050%28,609+1%0.16

Feb 19108d1,571−2%6240%2.52

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

Positioning

Linked exposure

scenario · straddle±12.3%

Funds 3

IWM±0.0%

UWM±0.0%

VTI±0.0%

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

Linked exposure

Revenue flow

as filedQ2 FY26

3.60%as filednet margin · revenue +8.94% QoQ · +5.57% YoY

Revenue

$199M+8.94% QoQ

Gross profit

$129M+8.41% QoQ

65.03% margin

Operating income

$14M+206.68% QoQ

6.92% margin

Pre-tax income

$9M+1426.00% QoQ

Net income

$7M+1505.70% QoQ

3.60% margin

Cost of revenue

$70M+9.95% QoQ

Operating expenses

$116M+0.83% QoQ

Other operating $64M

SG&A $43M

Depreciation $8M

Other operating $938,000

Other expense

$4M

Tax

$2M+1178.66% QoQ

Revenue$199M+8.94%

Gross profit

$129M+8.41%

65.03% margin

Operating income

$14M+206.68%

6.92% margin

Pre-tax income

$9M+1426.00%

Net income

$7M+1505.70%

3.60% margin

Cost of revenue

$70M+9.95%

Operating expenses

$116M+0.83%

Other operating $64M

SG&A $43M

Depreciation $8M

Other expense

$4M

Tax$2M+1178.66%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Jun 28 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 2 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

PPI ×1.31· ±3.1% vs ±2.4% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±3.1%5 of 10×1.31

CPIconsumer prices±2.8%3 of 10×1.20

FOMCrate decision±2.5%10 of 24×1.06

NFPjobs report±2.2%4 of 10×0.96

PCEpersonal income & outlays±1.6%7 of 19×0.67

GDPgross domestic product±1.5%10 of 19×0.65

CPROFcorporate profits±1.4%7 of 12×0.62

Bar = avg |move| to ±4% · tick = ±2.4% avg day · ×base = |move| ÷ ±2.4% · min 6 releases

Earnings history

EPS 0.09 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 5 '26 · confirmed	0.09	—
Q1 FY26	Feb 24 '26 · confirmed	-0.01	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod