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

Implied ±5.5%, either direction.

How often does SSR Mining move more than the options market prices?

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

SSRMNasdaqMineral Royalty Traders

SSR Mining Inc. (SSRM) earnings date, market-implied expected move, and options open interest by expiry

26.75

+0.27 · +1.02%

post 26.80 +0.19%

Closed19:57 ET

Open27.36Volume2.4MMkt cap$5.5BP/E22.94Div yield0.11%

Day26.75 – 27.368%52-wk18.17 – 39.4441%

SSRM

SSR Mining Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±5.5%implied · report alone

8Q avg ±9.7%·×0.56·cheap

25.2828.20

straddle ±9.9%

spot 26.74exp Nov 20ATM strike 27ATM straddle 3.10IV 65%

Nov 2 closereport share · term structure

Expected move

Inputs

Next report

Nov 3

after close · in 1 day

est.Q3 FY26

Calendar

Next report

Last report

+9.10%

vs ±11.4% implied · ×0.80

shaded = implied · ▲▼ = realized

Aug 4 '26 · confirmed

Implied vs realized

Largest filed tie

13.00%

of SSRM revenue · Royal Bank of Canada

customerSSRM 10-K

Supply chain

Largest filed tie

13F top-10 QoQ

+2.85%

shares held · 10 largest managers

13F · Jun 30 '26126d lag

393 managers

Top fund weight

0.20%

SSRM weight · IWM

N-PORTJun 30 '26

3 funds

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

SSR Mining (SSRM) is expected to report on Nov 3 after close (estimated date).

Implied vs realized

8 reports

3 of 8≥ implied

avg implied: ±8.6%
avg realized: ±9.7%

Feb 18 '25Feb 18 '25confirmed±6.6%▲+12.75%×1.94

Mar 31 '25Mar 31 '25confirmed±8.4%▼−7.81%×0.93

May 6 '25May 6 '25confirmed±8.2%▲+2.56%×0.31

Aug 5 '25Aug 5 '25confirmed±6.9%▲+17.32%×2.52

Q3 FY25Nov 4 '25confirmed±11.9%▼−10.23%×0.86

Feb 17 '26Feb 17 '26confirmed±7.1%▲+2.62%×0.37

Q1 FY26May 5 '26confirmed±8.6%▲+15.47%×1.79

Q2 FY26Aug 4 '26confirmed±11.4%▲+9.10%×0.80

quarterimplied−20%0+20%realized×

Q2 FY26±11.4%▲+9.10%×0.80

Q1 FY26±8.6%

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

Implied vs realized

Positioning

OI · 4 expiries · Oct 30 close

0.45OI · 4 expiries · Oct 30 closeP/C open interest · Nov 20 · first expiry after the report

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

1,772+5%Nov 2018d3,969+6%

1,510+1%Dec 1846d0.255,9610%0.25

6,4910%Jan 1574d0.4614,0990%0.46

941+11%Mar 19137d0.541,754+12%0.54

ExpiryPutsCallsP/C

Nov 2018d1,772+5%3,969+6%0.45

Dec 1846d1,510+1%5,9610%0.25

Jan 1574d6,4910%14,0990%0.46

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

Positioning

Linked exposure

scenario · straddle±9.9%

Funds 3

IWM±0.0%

UWM±0.0%

VT±0.0%

Suppliers 1

NEM±4.8%×0.48

Customers 1

BMO±0.9%×0.09

Dashed = straddle · × = co-movement · max 500dMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

20.83%as filednet margin · revenue −23.72% QoQ · +9.46% YoY

Revenue

$444M−23.72% QoQ

Gross profit

$270M−30.14% QoQ

60.87% margin

Operating income

$192M−36.19% QoQ

43.19% margin

Pre-tax income

$185M−40.21% QoQ

Net income

$92M+180.27% QoQ

20.83% margin

Cost of revenue

$174M−10.99% QoQ

Operating expenses

$78M−9.07% QoQ

Depreciation $31M

SG&A $28M

Other operating $11M

Other operating $9M

Other expense

$6M

Tax

$48M−19.17% QoQ

Revenue$444M−23.72%

Gross profit

$270M−30.14%

60.87% margin

Operating income

$192M−36.19%

43.19% margin

Pre-tax income

$185M−40.21%

Net income

$92M+180.27%

20.83% margin

Cost of revenue

$174M−10.99%

Operating expenses

$78M−9.07%

Depreciation $31M

SG&A $28M

Other operating $11M

Other expense

$6M

Tax$48M−19.17%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 2 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 19:45 ET

Intraday

Event sensitivity

PPI ×1.57· ±4.3% vs ±2.8% · 11 releases

eventrelease day|move|up · n×base

PPIproducer prices±4.3%4 of 11×1.57

NFPjobs report±4.3%6 of 10×1.55

GDPgross domestic product±3.2%11 of 20×1.15

PCEpersonal income & outlays±3.1%10 of 20×1.12

CPIconsumer prices±3.1%6 of 11×1.11

CPROFcorporate profits±2.8%6 of 12×1.03

FOMCrate decision±2.4%11 of 24×0.87

Bar = avg |move| to ±5% · tick = ±2.8% avg day · ×base = |move| ÷ ±2.8% · min 6 releases

Earnings history

EPS — · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 4 '26 · confirmed	—	—
Q1 FY26	May 5 '26 · confirmed	—	—
Q3 FY25	Nov 4 '25 · confirmed	0.31	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod