Shopify Inc. · Brief

Next report

3 days

Nov 3 · before openconfirmedQ3 FY26

Expected move

±10.4%implied · report alone

141.07173.91

straddle ±11.9%

spot 157.49exp Nov 6ATM strike 157.5ATM straddle 22.05IV 126%

Oct 30 closereport share · term structure

Expected move

—≥ implied

Q2 FY26—▲+16.98%—

quarterimplied−20%0+20%realized×

Q2 FY26—▲+16.98%—

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

Nov 3 report · confirmed

Bull2 of 4

3customers disclosing the company as a supplierSEC filings

1,725managers reporting a position in the latest quarterly filings13F · Jun 30 '26

Bear2 of 4

6 of 24of the largest reporting managers cut their stake in the latest quarter13F · Jun 30 '26

60managers holding four fifths of reported value13F · Jun 30 '26

AI captions · Oct 7 '26once per report · top 2 per case

SHOP report session

No linked exposure.

Oct 20impliedImplied move: ±12.6% into Nov 3 earnings (Oct 20 close).Source

Oct 6report dateEarnings date confirmed: Nov 3, before open.Source

privateThesis 0 · Decisions 0 · Observations 0

No thesis.