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

Implied ±19.0%, either direction · provisional.

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

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

SBGINasdaqTelevision Broadcasting Stations

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

14.33

+0.23 · +1.64%

Regular session12:07 ET

Open15.26Volume926,242Mkt cap$1.0BP/E19.61Div yield7.09%

Day14.29 – 15.583%52-wk11.83 – 16.6951%

SBGI

Sinclair, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±19.0%implied · straddle

11.4216.78

spot 14.10exp Mar 19ATM strike 15ATM straddle 3.15IV 44%

Nov 4 closeprovisional

Expected move

Inputs

Next report

Feb 24

after close · in 111 days

est.Q4 FY26

Calendar

Next report

Last report

Nov 4

after close

confirmedQ3 FY26Nov 4 close

Implied vs realized

Largest filed tie

—

Supply chain

13F top-10 QoQ

+4.41%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

176 managers

Top fund weight

0.02%

SBGI weight · IWM

N-PORTJun 30 '26

3 funds

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

Sinclair (SBGI) is expected to report on Feb 24 after close (estimated date).

Implied vs realized

8 reports

3 of 8≥ implied

avg implied: ±10.1%
avg realized: ±8.5%

Nov 6 '24Nov 6 '24confirmed±7.1%▼−2.76%×0.39

Feb 26 '25Feb 26 '25confirmed±10.7%▼−4.01%×0.37

May 7 '25May 7 '25confirmed±9.5%▼−4.81%×0.51

Aug 6 '25Aug 6 '25confirmed±8.6%▼−12.56%×1.46

Nov 5 '25Nov 5 '25confirmed±9.9%▲+17.90%×1.82

Feb 25 '26Feb 25 '26confirmed±13.4%▲+17.53%×1.30

Q1 FY26Apr 30 '26confirmed±8.8%▼−2.44%×0.28

Q2 FY26Aug 5 '26confirmed±12.9%▲+6.11%×0.47

quarterimplied−20%0+20%realized×

Q2 FY26±12.9%▲+6.11%×0.47

Q1 FY26±8.8%

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

Implied vs realized

Positioning

OI · 3 expiries · Nov 3 close

0.37OI · 3 expiries · Nov 3 closeP/C open interest · Mar 19 · first expiry after the report

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

852+4%Nov 2015d0.362,390+1697%0.36

1,494+1%Dec 1843d0.961,557+44%0.96

report · Feb 24 · after close · est.

273+22%Mar 19134d747+31%

ExpiryPutsCallsP/C

Nov 2015d852+4%2,390+1697%0.36

Dec 1843d1,494+1%1,557+44%0.96

report · Feb 24 · after close · est.

Mar 19134d273+22%

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

Positioning

Linked exposure

scenario · straddle±19.0%

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 filedQ3 FY26

4.82%as filednet margin · revenue +6.31% QoQ · +15.52% YoY

Revenue

$893M+6.31% QoQ

Gross profit

$474M+13.94% QoQ

53.08% margin

Operating income

$134M+168.00% QoQ

15.01% margin

Pre-tax income

$66M+88.57% QoQ

Net income

$43M+155.84% QoQ

4.82% margin

Cost of revenue

$419M−1.18% QoQ

Operating expenses

$340M−7.10% QoQ

SG&A $245M

Depreciation $28M

Other operating $15M

Other operating $52M

Other expense

$68M

Tax

$23M−79.46% QoQ

Revenue$893M+6.31%

Gross profit

$474M+13.94%

53.08% margin

Operating income

$134M+168.00%

15.01% margin

Pre-tax income

$66M+88.57%

Net income

$43M+155.84%

4.82% margin

Cost of revenue

$419M−1.18%

Operating expenses

$340M−7.10%

SG&A $245M

Depreciation $28M

Other operating $15M

Other expense

$68M

Tax$23M−79.46%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 12:00 ET

Intraday

Event sensitivity

PPI ×1.15· ±2.7% vs ±2.3% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±2.7%9 of 10×1.15

FOMCrate decision±2.6%13 of 24×1.12

CPROFcorporate profits±2.2%8 of 12×0.92

GDPgross domestic product±2.0%12 of 19×0.84

CPIconsumer prices±1.9%6 of 10×0.82

PCEpersonal income & outlays±1.8%9 of 19×0.77

NFPjobs report±1.3%4 of 10×0.54

Bar = avg |move| to ±3% · tick = ±2.3% avg day · ×base = |move| ÷ ±2.3% · min 6 releases

Earnings history

EPS 0.60 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	—	0.60	—
Q2 FY26	Aug 5 '26 · confirmed	-1.06	—
Q1 FY26	Apr 30 '26 · confirmed	0.28	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod