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

Implied ±7.9%, either direction · provisional.

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

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

SONYSEElectric Services

Southern Co (SO) earnings date, market-implied expected move, and options open interest by expiry

94.80

+1.68 · +1.80%

Regular session10:08 ET

Open93.12Volume18.7MMkt cap$107.1BP/E22.73EPS4.17Div yield3.22%

Day93.11 – 94.8398%52-wk81.69 – 98.4578%

Southern Co

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±7.9%implied · straddle

85.77100.47

spot 93.12exp Feb 19ATM strike 92.5ATM straddle 8.65IV 22%

Nov 4 closeprovisional

Expected move

Inputs

News

Next report

Last report

Nov 5

before open

confirmedQ3 FY26Nov 4 close

Implied vs realized

Linked news

1hCTRI · supplierCenturi reports Q3 revenue $1.2 billion, net income $26.9 million; sets 2027 targets
3hASPN · supplierAspen Aerogels reports Q3 2026 revenue $85.2 million, net loss $10.4 million

News

Largest filed tie

13F top-10 QoQ

+2.97%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

2,377 managers

Top fund weight

7.60%

SO weight · XLU

N-PORTJun 30 '26

10 funds

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

Southern (SO) is expected to report on Feb 18 before open (estimated date).

Implied vs realized

8 reports

3 of 8≥ implied

avg implied: ±2.2%
avg realized: ±1.9%

Oct 31 '24Oct 31 '24confirmed±1.8%▲+1.87%×1.04

Feb 20 '25Feb 20 '25confirmed±1.9%▲+1.55%×0.82

May 1 '25May 1 '25confirmed±1.9%▼−0.47%×0.24

Jul 31 '25Jul 31 '25confirmed±4.3%▼−0.44%×0.10

Oct 30 '25Oct 30 '25confirmed±1.8%▲+1.67%×0.91

Feb 19 '26Feb 19 '26confirmed±2.1%▲+4.40%×2.07

Q1 FY26Apr 30 '26confirmed±1.6%▲+3.41%×2.18

Q2 FY26Jul 30 '26confirmed±1.9%▼−1.78%×0.95

quarterimplied−5%0+5%realized×

Q2 FY26±1.9%▼−1.78%×0.95

Q1 FY26±1.6%

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

Implied vs realized

Positioning

OI · 10 expiries · Nov 4 close

0.48OI · 10 expiries · Nov 4 closeP/C open interest · Feb 19 · first expiry after the report

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

6 nearer expiries

14,740+5%Nov 61d2.057,201+2%2.05

2200%Nov 138d0.102,232+2%0.10

8,856+1%Nov 2015d0.5117,3460%0.51

117+13%Nov 2722d0.41285+1%0.41

10%Dec 429d0.0262+72%0.02

80%Dec 1136d1.605+25%1.60

8,005+10%Dec 1843d0.6711,9730%0.67

9,418+2%Jan 1571d0.6314,924+1%0.63

report · Feb 18 · before open · est.

ExpiryPutsCallsP/C

6 nearer expiries

Nov 61d14,740+5%7,201+2%2.05

Nov 138d2200%2,232+2%0.10

Nov 2015d8,856+1%17,346

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

Positioning

Linked exposure

scenario · straddle±7.9%

Funds 4

XLU±0.6%

JEPI±0.1%

VTV±0.0%

RSP±0.0%

Dashed = straddleMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ3 FY26

23.45%as filednet margin · revenue +26.75% QoQ · +13.04% YoY

Revenue

$8.8B+26.75% QoQ

Gross profit

$4.9B+36.37% QoQ

55.16% margin

Operating income

$3.0B+68.92% QoQ

33.93% margin

Pre-tax income

$2.5B+85.16% QoQ

Net income

$2.1B+74.58% QoQ

23.45% margin

Cost of revenue

$4.0B+16.62% QoQ

Operating expenses

$1.9B+4.28% QoQ

Depreciation $1.4B

Other operating $434M

Other expense

$454M

Tax

$472M+152.41% QoQ

Revenue$8.8B+26.75%

Gross profit

$4.9B+36.37%

55.16% margin

Operating income

$3.0B+68.92%

33.93% margin

Pre-tax income

$2.5B+85.16%

Net income

$2.1B+74.58%

23.45% margin

Cost of revenue

$4.0B+16.62%

Operating expenses

$1.9B+4.28%

Depreciation $1.4B

Other operating $434M

Other expense

$454M

Tax$472M+152.41%

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 · ▮ down · bars = volume, 15mSource: market data · 10:00 ET

Intraday

Event sensitivity

PCE ×1.24· ±1.1% vs ±0.8% · 20 releases

eventrelease day|move|up · n×base

PCEpersonal income & outlays±1.1%11 of 20×1.24

GDPgross domestic product±1.0%9 of 20×1.19

FOMCrate decision±0.9%9 of 24×1.08

CPIconsumer prices±0.8%7 of 11×0.97

CPROFcorporate profits±0.8%5 of 12×0.88

PPIproducer prices±0.7%5 of 11×0.83

NFPjobs report±0.7%5 of 10×0.83

Bar = avg |move| to ±2% · tick = ±0.8% avg day · ×base = |move| ÷ ±0.8% · min 6 releases

Earnings history

EPS 1.76 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	—	1.76	—
Q2 FY26	Jul 30 '26 · confirmed	1.03	—
Q1 FY26	Apr 30 '26 · confirmed	1.20	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod