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

Implied ±9.9%, either direction.

How often does Shake Shack move more than the options market prices?

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

SHAKNYSERetail-Eating & Drinking Places

Shake Shack Inc. (SHAK) earnings date, market-implied expected move, and options open interest by expiry

70.79

−1.67 · −2.31%

Regular session13:40 ET

Open71.75Volume1.8MMkt cap$3.1BP/E72.23EPS0.98

Day70.75 – 71.754%52-wk51.60 – 107.4634%

SHAK

Shake Shack Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±9.9%implied · report alone

8Q avg ±10.2%·×0.97·fair

65.2979.63

straddle ±10.4%

spot 72.46exp Nov 6ATM strike 72ATM straddle 8.90IV 149%

Nov 2 closereport share · term structure

Expected move

Inputs

Next report

Nov 4

before open · in 1 day

est.Q3 FY26

Calendar

Next report

Last report

+12.25%

vs ±12.2% implied · ×1.00

shaded = implied · ▲▼ = realized

Aug 5 '26 · confirmed

Implied vs realized

Linked news

3dDASH · supplierDoorDash net income $466 million, revenue $4,616 million in quarter ended Sept. 30, 2026
4dNBIS · supplierPress release Nebius Group announces date of third quarter 2026 results and conference call
5dDAL · customerFTC demands Walmart, Uber, Delta and others hand over data on personalized pricing: Reuters

News

Largest filed tie

13F top-10 QoQ

+17.63%

shares held · 10 largest managers

13F · Jun 30 '26126d lag

347 managers

Top fund weight

0.07%

SHAK weight · IWM

N-PORTJun 30 '26

4 funds

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

Shake Shack (SHAK) is expected to report on Nov 4 before open (estimated date).

Implied vs realized

8 reports

4 of 8≥ implied

avg implied: ±9.2%
avg realized: ±10.2%

Jan 13 '25Jan 13 '25confirmed±7.1%▼−5.33%×0.75

Feb 20 '25Feb 20 '25confirmed±8.2%▲+11.13%×1.35

May 1 '25May 1 '25confirmed±8.7%▲+1.11%×0.13

Jul 31 '25Jul 31 '25confirmed±9.0%▼−14.60%×1.62

Q3 FY25Oct 30 '25confirmed±10.6%▲+1.75%×0.17

Q1 FY26Feb 26 '26confirmed±8.9%▲+7.03%×0.79

May 7 '26May 7 '26confirmed±8.5%▼−28.26%×3.32

Q2 FY26Aug 5 '26confirmed±12.2%▲+12.25%×1.00

quarterimplied−30%0+30%realized×

Q2 FY26±12.2%▲+12.25%×1.00

May '26±8.5%

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

Implied vs realized

Positioning

OI · 8 expiries · Oct 29 close

0.73OI · 8 expiries · Oct 29 closeP/C open interest · Nov 6 · first expiry after the report

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

603+6%Nov 63d826+8%

1860%Nov 1310d0.88211+3%0.88

4,6270%Nov 2017d0.785,919+2%0.78

212+822%Nov 2724d2.9971+788%2.99

27—Dec 431d0.9030—0.90

3 later expiries

3,306+1%Dec 1845d0.933,544+5%0.93

3,9610%Jan 1573d0.60

ExpiryPutsCallsP/C

Nov 63d603+6%826+8%0.73

Nov 1310d1860%211+3%0.88

Nov 2017d4,6270%5,919+2%0.78

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

Positioning

Linked exposure

scenario · straddle±10.4%

Funds 4

IWM±0.0%

UWM±0.0%

VTI±0.0%

VT±0.0%

Suppliers 2

DASH±2.7%×0.26

UBER±2.0%×0.19

Customers 2

DAL±3.7%×0.35

PENN±3.3%×0.31

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

Linked exposure

Revenue flow

as filedQ2 FY26

4.04%as filednet margin · revenue +13.87% QoQ · +17.16% YoY

Revenue

$418M+13.87% QoQ

Gross profit

$200M+15.01% QoQ

47.92% margin

Operating income

$21M+887.62% QoQ

4.97% margin

Pre-tax income

$23M+5292.48% QoQ

Net income

$17M+5842.18% QoQ

4.04% margin

Cost of revenue

$218M+12.85% QoQ

Operating expenses

$179M+1.55% QoQ

SG&A $111M

Depreciation $31M

Other operating $30M

Other operating $7M

Tax

$6M+4177.93% QoQ

Other income

$2M−6.65% QoQ

Revenue$418M+13.87%

Gross profit

$200M+15.01%

47.92% margin

Operating income

$21M+887.62%

4.97% margin

Pre-tax income

$23M+5292.48%

Net income

$17M+5842.18%

4.04% margin

Cost of revenue

$218M+12.85%

Operating expenses

$179M+1.55%

SG&A $111M

Depreciation $31M

Other operating $30M

Other income$2M−6.65%

Tax$6M+4177.93%

flow · deduction · inflow · signed % = QoQSource: SEC filings · standardized · QE Jul 1 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 2 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 13:30 ET

Intraday

Event sensitivity

PCE ×1.13· ±2.5% vs ±2.2% · 20 releases

eventrelease day|move|up · n×base

PCEpersonal income & outlays±2.5%11 of 20×1.13

PPIproducer prices±2.4%6 of 11×1.11

CPIconsumer prices±2.4%7 of 11×1.09

FOMCrate decision±2.1%13 of 24×0.95

GDPgross domestic product±1.6%13 of 20×0.73

NFPjobs report±1.5%6 of 10×0.69

CPROFcorporate profits±1.4%6 of 12×0.65

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

Earnings history

EPS 0.37 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 5 '26 · confirmed	0.37	—
Q1 FY26	Feb 26 '26 · confirmed	-0.01	—
Q3 FY25	Oct 30 '25 · confirmed	0.30	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod