What move does the options market price into S&P Global's report?

Implied ±11.1%, either direction · provisional.

How often does S&P Global move more than the options market prices?

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

SPGINYSEServices-Consumer Credit Reporting, Collection Agencies

S&P Global Inc. (SPGI) earnings date, market-implied expected move, and options open interest by expiry

464.88

+4.22 · +0.92%

post 465.19 +0.07%

Closed18:03 ET

Open460.39Volume1.9MMkt cap$135.3BP/E27.66EPS16.82Div yield4.97%

Day460.39 – 468.5259%52-wk360.09 – 521.1265%

SPGI

S&P Global Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±11.1%implied · straddle

414.91518.19

spot 466.55exp Feb 19ATM strike 470ATM straddle 60.75IV 29%

Oct 30 closeprovisional

Expected move

Inputs

Next report

Feb 9

before open · in 101 days

est.Q4 FY26

Calendar

Next report

Last report

−0.38%

vs ±4.2% implied · ×0.09

shaded = implied · ▲▼ = realized

Oct 27 '26 · confirmed

Implied vs realized

Linked news

22hOMF · customerOneMain reports Q3 net income $185 million, diluted EPS $1.60
22hCP · customerCanadian Pacific Kansas City declares quarterly dividend of $0.268 per share
1dJLL · customerJones Lang LaSalle enters $500 million accelerated share repurchase

News

Largest filed tie

13F top-10 QoQ

+1.05%

shares held · 10 largest managers

13F · Jun 30 '26123d lag

2,023 managers

Top fund weight

1.63%

SPGI weight · XLF

N-PORTJun 30 '26

10 funds

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

S&P Global (SPGI) is expected to report on Feb 9 before open (estimated date).

Implied vs realized

8 reports

4 of 8≥ implied

avg implied: ±4.1%
avg realized: ±3.7%

Feb 11 '25Feb 11 '25confirmed±3.2%▲+4.89%×1.55

Apr 29 '25Apr 29 '25confirmed±3.8%▲+2.58%×0.68

Jul 31 '25Jul 31 '25confirmed±2.9%▲+4.11%×1.43

Oct 30 '25Oct 30 '25confirmed±3.7%▲+3.92%×1.06

Feb 10 '26Feb 10 '26confirmed±4.7%▼−9.71%×2.06

Q1 FY26Apr 28 '26confirmed±4.0%▼−0.86%×0.21

Q2 FY26Jul 28 '26confirmed±5.9%▼−3.52%×0.59

Q3 FY26Oct 27 '26confirmed±4.2%▼−0.38%×0.09

quarterimplied−10%0+10%realized×

Q3 FY26±4.2%▼−0.38%×0.09

Q2 FY26±5.9%

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

Implied vs realized

Positioning

OI · 9 expiries · Oct 29 close

0.78OI · 9 expiries · Oct 29 closeP/C open interest · Feb 19 · first expiry after the report

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

5 nearer expiries

514+27%Nov 66d1.03500+38%1.03

380−1%Nov 1313d3.9696+41%3.96

2,957+1%Nov 2020d1.062,792+1%1.06

158+1%Nov 2727d2.0577+8%2.05

48+9%Dec 434d1.0247+1467%1.02

2,617+4%Dec 1848d0.465,639+8%0.46

6,050+5%Jan 1576d0.748,136−1%0.74

report · Feb 9 · before open · est.

ExpiryPutsCallsP/C

5 nearer expiries

Nov 66d514+27%500+38%1.03

Nov 1313d380−1%96+41%3.96

Nov 2020d2,957+1%2,792

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

Positioning

Linked exposure

scenario · straddle±11.1%

Funds 4

XLF±0.2%

VIG±0.1%

VTV±0.0%

RSP±0.0%

Customers 3

CNO±4.2%×0.38

FIBK±3.6%×0.33

SMBC±3.2%

Dashed = straddle · × = co-movement · max 501dMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ3 FY26

36.65%as filednet margin · revenue −11.29% QoQ · −5.40% YoY

Revenue

$3.7B−11.29% QoQ

Gross profit

$2.6B−11.30% QoQ

71.89% margin

Operating income

$2.0B+7.95% QoQ

53.18% margin

Pre-tax income

$1.9B+8.33% QoQ

Net income

$1.3B+1.89% QoQ

36.65% margin

Cost of revenue

$1.0B−11.24% QoQ

Operating expenses

$688M−41.15% QoQ

SG&A $660M

Depreciation $29M

Other expense

$83M

Tax

$467M+15.02% QoQ

Revenue$3.7B−11.29%

Gross profit

$2.6B−11.30%

71.89% margin

Operating income

$2.0B+7.95%

53.18% margin

Pre-tax income

$1.9B+8.33%

Net income

$1.3B+1.89%

36.65% margin

Cost of revenue

$1.0B−11.24%

Operating expenses

$688M−41.15%

SG&A $660M

Depreciation $29M

Other expense

$83M

Tax$467M+15.02%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Oct 30 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 18:00 ET

Intraday

Event sensitivity

PPI ×1.71· ±1.8% vs ±1.0% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±1.8%4 of 10×1.71

NFPjobs report±1.5%6 of 10×1.43

FOMCrate decision±1.2%12 of 24×1.11

CPROFcorporate profits±1.0%7 of 12×1.00

PCEpersonal income & outlays±1.0%13 of 19×0.94

CPIconsumer prices±1.0%6 of 10×0.93

GDPgross domestic product±0.8%11 of 19×0.80

Bar = avg |move| to ±2% · tick = ±1.0% avg day · ×base = |move| ÷ ±1.0% · min 6 releases

Earnings history

EPS 4.25 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Oct 27 '26 · confirmed	4.25	—
Q2 FY26	Jul 28 '26 · confirmed	4.12	—
Q1 FY26	Apr 28 '26 · confirmed	4.69	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod