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

Implied ±7.7%, either direction.

How often does Surgery Partners move more than the options market prices?

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

SGRYNasdaqServices-General Medical & Surgical Hospitals, NEC

Surgery Partners, Inc. (SGRY) earnings date, market-implied expected move, and options open interest by expiry

23.15

+0.03 · +0.11%

post 23.15 0.00%

After hours16:00 ETdelayed

Open23.32Volume3.4MMkt cap$3.0BEPS-0.69

Day23.14 – 23.323%52-wk11.41 – 23.3798%

SGRY

Surgery Partners, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±7.7%implied · report alone

8Q avg ±6.6%·×1.17·rich

19.0622.24

straddle ±17.7%

spot 20.65exp Nov 20ATM strike 20ATM straddle 4.30IV 86%

Nov 3 closereport share · term structure

Expected move

Inputs

Next report

Nov 9

before open · in 6 days

est.Q3 FY26

Calendar

Next report

Last report

+2.70%

vs ±12.9% implied · ×0.21

shaded = implied · ▲▼ = realized

Aug 10 '26 · confirmed

Implied vs realized

Largest filed tie

—

Supply chain

13F top-10 QoQ

−2.55%

shares held · 10 largest managers

13F · Jun 30 '26126d lag

190 managers

Top fund weight

0.04%

SGRY weight · IWM

N-PORTJun 30 '26

4 funds

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

Surgery Partners (SGRY) is expected to report on Nov 9 before open (estimated date).

Implied vs realized

8 reports

1 of 8≥ implied

avg implied: ±11.5%
avg realized: ±6.6%

Nov 12 '24Nov 12 '24confirmed±13.8%▼−5.92%×0.43

Mar 3 '25Mar 3 '25confirmed±8.5%▼−0.33%×0.04

May 12 '25May 12 '25confirmed±11.8%▲+4.96%×0.42

Aug 5 '25Aug 5 '25confirmed±5.7%▼−0.34%×0.06

Q3 FY25Nov 10 '25confirmed±12.9%▼−25.42%×1.97

Q1 FY26Mar 2 '26confirmed±12.4%▼−12.34%×0.99

May 5 '26May 5 '26confirmed±13.8%▲+0.42%×0.03

Q2 FY26Aug 10 '26confirmed±12.9%▲+2.70%×0.21

quarterimplied−30%0+30%realized×

Q2 FY26±12.9%▲+2.70%×0.21

May '26±13.8%▲+0.42%×0.03

Q1 FY26±12.4%▼−12.34%×0.99

Q3 FY25±12.9%▼−25.42%×1.97

Aug '25±5.7%▼−0.34%×0.06

May '25±11.8%▲+4.96%×0.42

2 older reports

Mar '25±8.5%▼−0.33%×0.04

Nov '24±13.8%▼−5.92%×0.43

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

Implied vs realized

Positioning

OI · 4 expiries · Oct 23 close

0.21OI · 4 expiries · Oct 23 closeP/C open interest · Nov 20 · first expiry after the report

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

92+2%Nov 2017d431+1%

1800%Dec 1845d0.87208+14%0.87

2080%Jan 1573d0.063,3980%0.06

180%Mar 19136d0.29630%0.29

ExpiryPutsCallsP/C

Nov 2017d92+2%431+1%0.21

Dec 1845d1800%208+14%0.87

Jan 1573d2080%3,3980%0.06

Mar 19136d180%630%0.29

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

Positioning

Linked exposure

scenario · straddle±17.7%

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

3.50%as filednet margin · revenue +4.69% QoQ · +2.75% YoY

Revenue

$849M+4.69% QoQ

Gross profit

$596M+5.73% QoQ

70.18% margin

Operating income

$102M+55.17% QoQ

12.03% margin

Pre-tax income

$32M+1078.79% QoQ

Net income

$30M+1514.29% QoQ

3.50% margin

Cost of revenue

$253M+2.30% QoQ

Operating expenses

$494M−0.80% QoQ

SG&A $418M

Depreciation $39M

Other operating $20M

Other operating $17M

Other expense

$70M

Tax

$3M+316.67% QoQ

Revenue$849M+4.69%

Gross profit

$596M+5.73%

70.18% margin

Operating income

$102M+55.17%

12.03% margin

Pre-tax income

$32M+1078.79%

Net income

$30M+1514.29%

3.50% margin

Cost of revenue

$253M+2.30%

Operating expenses

$494M−0.80%

SG&A $418M

Depreciation $39M

Other operating $20M

Other expense

$70M

Tax$3M+316.67%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

FOMC ×1.25· ±2.7% vs ±2.2% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±2.7%10 of 24×1.25

NFPjobs report±2.6%9 of 10×1.21

PPIproducer prices±2.4%6 of 10×1.07

CPIconsumer prices±1.8%6 of 10×0.84

PCEpersonal income & outlays±1.7%8 of 19×0.76

GDPgross domestic product±1.3%7 of 19×0.59

CPROFcorporate profits±1.2%5 of 12×0.56

Bar = avg |move| to ±3% · tick = ±2.2% avg day · ×base = |move| ÷ ±2.2% · min 6 releases

Earnings history

EPS -0.12 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 10 '26 · confirmed	-0.12	—
Q1 FY26	Mar 2 '26 · confirmed	-0.28	—
Q3 FY25	Nov 10 '25 · confirmed	-0.18	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod