SPHR as of Oct 31 · 13:00 ET

SPHRNYSEServices-Amusement & Recreation Services

Sphere Entertainment Co. · Brief

Next report

3 days

Nov 3 · before openest.Q3 FY26

Earnings

Expected move

Inputs

±10.1%implied · report alone

98.10120.18

straddle ±11.5%

spot 109.14exp Nov 20ATM strike 110ATM straddle 14.75IV 55%

Oct 30 closereport share · term structure

Expected move

Inputs

Implied vs realized

8 reportsHistory

2 of 7≥ implied

avg implied: ±9.5%
avg realized: ±8.2%

Nov 12 '24±8.3%▼−6.97%×0.84

Mar 3 '25±11.3%▼−13.61%×1.20

May 8 '25±9.5%▲+6.04%×0.63

Aug 11 '25±9.7%▼−3.95%×0.41

Nov 4 '25±10.4%▲+4.70%×0.45

Feb 12 '26±8.2%▲+22.07%×2.68

Q1 FY26±9.4%▲+0.10%×0.01

Q2 FY26—▲+5.81%—

quarterimplied−25%0+25%realized×

Q2 FY26—▲+5.81%—

Q1 FY26±9.4%▲+0.10%×0.01

Feb '26±8.2%▲+22.07%×2.68

Nov '25±10.4%▲+4.70%×0.45

Aug '25±9.7%▼−3.95%×0.41

May '25±9.5%▲+6.04%×0.63

2 older reports

Mar '25±11.3%▼−13.61%×1.20

Nov '24±8.3%▼−6.97%×0.84

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

Bull & bear

Nov 3 report · est.

Bull2 of 3

22disclosed supplier and customer ties in SEC filingsSEC filings

422managers reporting a position in the latest quarterly filings13F · Jun 30 '26

Bear2

4tracked funds holding SPHRN-PORT · Aug 31 '26

12 of 22largest reporting managers that cut their stake in the latest quarter13F · Jun 30 '26

AI captions · Sep 28 '26once per report · top 2 per case

Linked exposure

SPHR report session

Customers 2

DALDelta Air Lines×0.35 HPEHewlett Packard Enterprise×0.29

× = co-movement · max 501dSource: SEC filings · market data

Latest changes

30 daysAll changes

Oct 20impliedImplied move: ±12.5% into Nov 3 earnings (Oct 20 close).Source

Your note

privateThesis 0 · Decisions 0 · Observations 0

No thesis.