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

Implied ±28.1%, either direction.

How often does ARS Pharmaceuticals move more than the options market prices?

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

SPRYNasdaqPharmaceutical Preparations

ARS Pharmaceuticals, Inc. (SPRY) earnings date, market-implied expected move, and options open interest by expiry

3.05

pre 3.02 −0.98%

Pre-market07:17 ETdelayed

Open3.07Volume2.4MMkt cap$303.3MEPS-2.17

Day3.02 – 3.070%52-wk2.91 – 13.151%

SPRY

ARS Pharmaceuticals, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±28.1%implied · report alone

8Q avg ±6.5%·×4.34·rich

2.193.91

straddle ±28.6%

spot 3.05exp Nov 20ATM strike 2.5ATM straddle 1.03IV 194%

Nov 3 closereport share · term structurethin chain

Expected move

Inputs

Next report

Nov 9

before open · in 5 days

est.Q3 FY26

Calendar

Next report

Last report

−7.38%

vs ±22.2% implied · ×0.33

shaded = implied · ▲▼ = realized

Aug 13 '26 · confirmed

Implied vs realized

Largest filed tie

—

Supply chain

13F top-10 QoQ

+4.36%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

205 managers

Top fund weight

0.17%

SPRY weight · XBI

N-PORTJun 30 '26

4 funds

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

ARS Pharmaceuticals (SPRY) is expected to report on Nov 9 before open (estimated date).

Implied vs realized

8 reports

1 of 8≥ implied

avg implied: ±15.2%
avg realized: ±6.5%

Jan 13 '25Jan 13 '25confirmed±9.4%▲+0.18%×0.02

Mar 20 '25Mar 20 '25confirmed±11.8%▲+22.83%×1.93

May 14 '25May 14 '25confirmed±11.9%▼−9.36%×0.79

Aug 13 '25Aug 13 '25confirmed±14.4%▼−5.04%×0.35

Q3 FY25Nov 10 '25confirmed±18.0%▲+0.34%×0.02

Q1 FY26Mar 9 '26confirmed±22.8%▼−0.11%×0.00

May 15 '26May 15 '26confirmed±11.3%▼−6.49%×0.58

Q2 FY26Aug 13 '26confirmed±22.2%▼−7.38%×0.33

quarterimplied−25%0+25%realized×

Q2 FY26±22.2%▼−7.38%×0.33

May '26±11.3%

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

Implied vs realized

Positioning

OI · 3 expiries · Nov 3 close

0.01OI · 3 expiries · Nov 3 closeP/C open interest · Nov 20 · first expiry after the report

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

3−40%Nov 2016d266+27%

49−47%Dec 1844d0.06800+4%0.06

213−1%Mar 19135d0.141,483+4%0.14

ExpiryPutsCallsP/C

Nov 2016d3−40%266+27%0.01

Dec 1844d49−47%800+4%0.06

Mar 19135d213−1%1,483+4%0.14

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

Positioning

Linked exposure

scenario · straddle±28.6%

Funds 4

XBI±0.0%

IWM±0.0%

UWM±0.0%

VTI±0.0%

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

Linked exposure

Revenue flow

as filedQ2 FY26

−185.21%as filednet margin · revenue +48.40% QoQ · +114.15% YoY

Revenue$34M+48.40%

Gross profit$21M61.83%+26.94%

Operating income−$61M−182.62%−2.19%

Pre-tax income−$62M−2.84%

Net income−$62M−185.21%−2.84%

Cost of revenue$13M+104.36%

Operating expenses$82M+7.50%

Other expense−$874,000−84.78%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 07:15 ET

Intraday

Event sensitivity

NFP ×1.78· ±5.4% vs ±3.0% · 10 releases

eventrelease day|move|up · n×base

NFPjobs report±5.4%4 of 10×1.78

CPROFcorporate profits±5.1%7 of 12×1.69

PCEpersonal income & outlays±4.9%9 of 19×1.61

GDPgross domestic product±4.1%10 of 19×1.34

FOMCrate decision±3.4%13 of 24×1.10

PPIproducer prices±3.1%4 of 10×1.02

CPIconsumer prices±2.3%3 of 10×0.75

Bar = avg |move| to ±6% · tick = ±3.0% avg day · ×base = |move| ÷ ±3.0% · min 6 releases

Earnings history

EPS -0.63 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 13 '26 · confirmed	-0.63	—
Q1 FY26	Mar 9 '26 · confirmed	-0.61	—
Q3 FY25	Nov 10 '25 · confirmed	-0.52	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod