What move does the options market price into Sun Communities's report?

Implied ±10.1%, either direction · provisional.

SUINYSEReal Estate Investment Trusts

Sun Communities Inc (SUI) earnings date, market-implied expected move, and options open interest by expiry

113.25

+1.01 · +0.90%

post 113.27 +0.01%

Closed16:00 ET

Open113.57Volume1.7MMkt cap$13.5BEPS-6.04Div yield3.88%

Day113.24 – 113.805%52-wk109.29 – 134.0116%

SUI

Sun Communities Inc

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±10.1%implied · straddle

101.83124.69

spot 113.26exp Mar 19ATM strike 115ATM straddle 13.45IV 24%

Oct 30 closeprovisional

Expected move

Inputs

Next report

Feb 22

after close · in 114 days

est.Q4 FY26

Calendar

Next report

Last report

−4.06%

vs ±4.7% implied · ×0.86

shaded = implied · ▲▼ = realized

Oct 26 '26 · confirmed

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

−4.43%

shares held · 10 largest managers

13F · Jun 30 '26123d lag

526 managers

Top fund weight

0.79%

SUI weight · VNQ

N-PORTJul 31 '26

4 funds

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

Sun Communities (SUI) is expected to report on Feb 22 after close (estimated date).

Implied vs realized

2 reports

—≥ implied

Q2 FY26Jul 27 '26confirmed—▲+2.18%—

Q3 FY26Oct 26 '26confirmed±4.7%▼−4.06%×0.86

quarterimplied−5%0+5%realized×

Q3 FY26±4.7%▼−4.06%×0.86

Q2 FY26—▲+2.18%—

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

Implied vs realized

Positioning

OI · 3 expiries · Oct 30 close

2.00OI · 3 expiries · Oct 30 closeP/C open interest · Mar 19 · first expiry after the report

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

328+9%Nov 2020d0.43769−6%0.43

286+3%Dec 1848d0.161,790+3%0.16

report · Feb 22 · after close · est.

98+17%Mar 19139d49+2%

ExpiryPutsCallsP/C

Nov 2020d328+9%769−6%0.43

Dec 1848d286+3%1,790+3%0.16

report · Feb 22 · after close · est.

Mar 19139d98+17%49+2%2.00

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

Positioning

Linked exposure

scenario · straddle±10.1%

Funds 4

VNQ±0.1%

REVS±0.0%

VTI±0.0%

VT±0.0%

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

Linked exposure

Revenue flow

as filedQ3 FY26

22.90%as filednet margin · revenue +15.19% QoQ · −19.94% YoY

Revenue

$558M+15.19% QoQ

Gross profit

$387M+37.86% QoQ

69.35% margin

Operating income

$169M+231.57% QoQ

30.29% margin

Pre-tax income

$130M+197.03% QoQ

Net income

$128M+112.47% QoQ

22.90% margin

Cost of revenue

$171M−16.05% QoQ

Operating expenses

$218M−5.13% QoQ

Depreciation $126M

Other operating $55M

SG&A $49M

Other expense

$39M

Tax

$1M+83.33% QoQ

Revenue$558M+15.19%

Gross profit

$387M+37.86%

69.35% margin

Operating income

$169M+231.57%

30.29% margin

Pre-tax income

$130M+197.03%

Net income

$128M+112.47%

22.90% margin

Cost of revenue

$171M−16.05%

Operating expenses

$218M−5.13%

Depreciation $126M

Other operating $55M

SG&A $49M

Other expense

$39M

Tax$1M+83.33%

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 · ▮ downSource: market data · 16:00 ET

Intraday

Event sensitivity

FOMC ×1.68· ±1.8% vs ±1.1% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±1.8%8 of 24×1.68

PCEpersonal income & outlays±1.2%14 of 19×1.14

PPIproducer prices±1.1%6 of 11×0.97

GDPgross domestic product±0.9%10 of 19×0.86

CPIconsumer prices±0.8%5 of 11×0.72

CPROFcorporate profits±0.6%7 of 12×0.54

NFPjobs report±0.6%6 of 10×0.53

Bar = avg |move| to ±2% · tick = ±1.1% avg day · ×base = |move| ÷ ±1.1% · min 6 releases

Earnings history

EPS 1.00 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Oct 26 '26 · confirmed	1.00	—
Q2 FY26	Jul 27 '26 · confirmed	-8.08	—
Q1 FY26	—	-0.07	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod