What move does the options market price into Talos Energy's report?

Implied ±10.1%, either direction.

How often does Talos Energy move more than the options market prices?

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

TALONYSECrude Petroleum & Natural Gas

Talos Energy Inc. (TALO) earnings date, market-implied expected move, and options open interest by expiry

16.11

−0.35 · −2.13%

post 16.11 −0.02%

After hours16:18 ETdelayed

Open16.67Volume3.4MMkt cap$2.7BEPS-2.34

Day16.04 – 16.6710%52-wk9.35 – 18.7672%

TALO

Talos Energy Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±10.1%implied · straddle

14.4917.76

spot 16.13exp Nov 20ATM strike 15ATM straddle 1.93IV 49%

Nov 3 close

Expected move

Inputs

Next report

Nov 4

after close · in 1 day

est.Q3 FY26

Calendar

Next report

Last report

−0.63%

vs ±12.4% implied · ×0.05

shaded = implied · ▲▼ = realized

Aug 4 '26 · confirmed

Implied vs realized

Largest filed tie

12.00%

of TALO revenue · Chevron Products

customerTALO 10-K

Supply chain

Largest filed tie

13F top-10 QoQ

+1.45%

shares held · 10 largest managers

13F · Jun 30 '26126d lag

290 managers

Top fund weight

0.05%

TALO weight · IWM

N-PORTJun 30 '26

3 funds

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

Talos Energy (TALO) is expected to report on Nov 4 after close (estimated date).

Implied vs realized

8 reports

1 of 8≥ implied

avg implied: ±10.5%
avg realized: ±3.6%

Feb 27 '25Feb 27 '25confirmed±13.6%▼−1.53%×0.11

May 5 '25May 5 '25confirmed±10.7%▲+4.38%×0.41

May 22 '25May 22 '25confirmed±10.2%▲+0.13%×0.01

Aug 6 '25Aug 6 '25confirmed±5.9%▲+0.77%×0.13

Q3 FY25Nov 5 '25confirmed±9.2%▲+2.30%×0.25

Feb 24 '26Feb 24 '26confirmed±11.8%▼−13.71%×1.16

Q1 FY26May 5 '26confirmed±9.8%▼−5.41%×0.55

Q2 FY26Aug 4 '26confirmed±12.4%▼−0.63%×0.05

quarterimplied−15%0+15%realized×

Q2 FY26±12.4%▼−0.63%×0.05

Q1 FY26±9.8%

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

0.28OI · 4 expiries · Oct 30 closeP/C open interest · Nov 20 · first expiry after the report

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

203+5%Nov 2017d713+11%

17−37%Dec 1845d0.15116+12%0.15

2900%Jan 1573d0.191,565+1%0.19

196+20%Apr 16164d0.79247−5%0.79

ExpiryPutsCallsP/C

Nov 2017d203+5%713+11%0.28

Dec 1845d17−37%116+12%0.15

Jan 1573d2900%1,565+1%0.19

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

Positioning

Linked exposure

scenario · straddle±10.1%

Funds 3

IWM±0.0%

UWM±0.0%

VTI±0.0%

Suppliers 3

SDRL±5.6%×0.55

HLX±5.4%×0.53

CVX±3.3%×0.33

Customers 1

VLO±4.3%×0.42

Dashed = straddle · × = co-movement · max 499dMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

22.55%as filednet margin · revenue +40.76% QoQ · +56.53% YoY

Revenue

$665M+40.76% QoQ

Gross profit

$509M+48.32% QoQ

76.58% margin

Operating income

$198M+265.98% QoQ

29.82% margin

Pre-tax income

$195M+160.61% QoQ

Net income

$150M+158.55% QoQ

22.55% margin

Cost of revenue

$156M+20.65% QoQ

Operating expenses

$311M−32.81% QoQ

Depreciation $229M

SG&A $45M

Other operating $37M

Other expense

$3M

Tax

$45M+168.67% QoQ

Revenue$665M+40.76%

Gross profit

$509M+48.32%

76.58% margin

Operating income

$198M+265.98%

29.82% margin

Pre-tax income

$195M+160.61%

Net income

$150M+158.55%

22.55% margin

Cost of revenue

$156M+20.65%

Operating expenses

$311M−32.81%

Depreciation $229M

SG&A $45M

Other operating $37M

Other expense

$3M

Tax$45M+168.67%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:15 ET

Intraday

Event sensitivity

PPI ×1.15· ±2.5% vs ±2.2% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±2.5%4 of 10×1.15

NFPjobs report±2.3%6 of 10×1.05

FOMCrate decision±2.3%13 of 24×1.04

CPIconsumer prices±2.2%6 of 10×1.00

GDPgross domestic product±1.9%13 of 19×0.85

PCEpersonal income & outlays±1.6%10 of 19×0.74

CPROFcorporate profits±1.3%9 of 12×0.60

Bar = avg |move| to ±3% · tick = ±2.2% avg day · ×base = |move| ÷ ±2.2% · min 6 releases

Earnings history

EPS 0.88 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 4 '26 · confirmed	0.88	—
Q1 FY26	May 5 '26 · confirmed	-1.52	—
Q3 FY25	Nov 5 '25 · confirmed	-0.55	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod