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

Implied ±10.1%, either direction.

How often does Sphere Entertainment move more than the options market prices?

2 of the last 7 reports moved at least as far as the implied move.

SPHRNYSEServices-Amusement & Recreation Services

Sphere Entertainment Co. (SPHR) earnings date, market-implied expected move, and options open interest by expiry

108.95

Closed16:00 ET

Open113.05Volume777,495Mkt cap$3.9BEPS-2.09

Day108.38 – 113.0712%52-wk64.00 – 181.6338%

SPHR

Sphere Entertainment Co.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±10.1%implied · report alone

8Q avg ±7.9%·×1.28·rich

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

Next report

Nov 3

before open · in 3 days

est.Q3 FY26

Calendar

Next report

Last report

+5.81%

shaded = implied · ▲▼ = realized

Jul 30 '26 · confirmed

Implied vs realized

Linked news

3dDAL · customerFTC demands Walmart, Uber, Delta and others hand over data on personalized pricing: Reuters
11dHPE · customerSuper Micro’s stock soars after surprise update — with Dell and HPE shares joining the rally

News

Largest filed tie

13F top-10 QoQ

+5.58%

shares held · 10 largest managers

13F · Jun 30 '26124d lag

422 managers

Top fund weight

0.15%

SPHR weight · IWM

N-PORTJun 30 '26

4 funds

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

Sphere Entertainment (SPHR) is expected to report on Nov 3 before open (estimated date).

Implied vs realized

8 reports

2 of 7≥ implied

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

Nov 12 '24Nov 12 '24confirmed±8.3%▼−6.97%×0.84

Mar 3 '25Mar 3 '25confirmed±11.3%▼−13.61%×1.20

May 8 '25May 8 '25confirmed±9.5%▲+6.04%×0.63

Aug 11 '25Aug 11 '25confirmed±9.7%▼−3.95%×0.41

Nov 4 '25Nov 4 '25confirmed±10.4%▲+4.70%×0.45

Feb 12 '26Feb 12 '26confirmed±8.2%▲+22.07%×2.68

Q1 FY26May 5 '26confirmed±9.4%▲+0.10%×0.01

Q2 FY26Jul 30 '26confirmed—▲+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

Implied vs realized

Positioning

OI · 4 expiries · Oct 27 close

0.32OI · 4 expiries · Oct 27 closeP/C open interest · Nov 20 · first expiry after the report

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

2,0250%Nov 2020d6,234+4%

820%Dec 1848d1.5852+16%1.58

1,5650%Jan 1576d0.324,8450%0.32

146+2%Feb 19111d0.035,2270%0.03

ExpiryPutsCallsP/C

Nov 2020d2,0250%6,234+4%0.32

Dec 1848d820%52+16%1.58

Jan 1576d1,5650%4,8450%0.32

Feb 19111d146+2%5,2270%0.03

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

Positioning

Linked exposure

scenario · straddle±11.5%

Funds 4

IWM±0.0%

UWM±0.0%

VTI±0.0%

VT±0.0%

Customers 2

DAL±4.0%×0.35

HPE±3.4%×0.29

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

Linked exposure

Revenue flow

as filedQ2 FY26

−12.22%as filednet margin · revenue −18.83% QoQ · +10.95% YoY

Revenue$314M−18.83%

Gross profit$314M100.00%−18.83%

Operating income−$61M−19.53%−950.62%

Pre-tax income−$65M−17026.77%

Net income−$38M−12.22%−959.35%

Cost of revenue$0—

Operating expenses$375M−1.14%

Tax−$27M−456.21%

Other expense−$4M+47.37%

Source: SEC filings · standardized · QE Jun 30 '26 · bars = % of revenue

Revenue flow

Intraday

15m bars

Long dash = implied range · Oct 30 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

CPI ×1.30· ±3.2% vs ±2.4% · 10 releases

eventrelease day|move|up · n×base

CPIconsumer prices±3.2%6 of 10×1.30

CPROFcorporate profits±2.5%7 of 12×1.03

GDPgross domestic product±2.5%12 of 19×1.02

PPIproducer prices±2.3%7 of 10×0.96

NFPjobs report±2.2%2 of 10×0.90

PCEpersonal income & outlays±2.2%12 of 19×0.89

FOMCrate decision±1.8%14 of 24×0.72

Bar = avg |move| to ±4% · tick = ±2.4% avg day · ×base = |move| ÷ ±2.4% · min 6 releases

Earnings history

EPS -1.07 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Jul 30 '26 · confirmed	-1.07	—
Q1 FY26	May 5 '26 · confirmed	-0.04	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod