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

Implied ±21.5%, either direction · provisional.

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

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

TARSNasdaqBiological Products, (No Diagnostic Substances)

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

68.46

+0.94 · +1.39%

Regular session12:34 ET

Open67.78Volume1.6MMkt cap$3.4BEPS-15.16

Day67.64 – 68.5392%52-wk53.89 – 91.5339%

TARS

Tarsus Pharmaceuticals, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±21.5%implied · straddle

52.9882.06

spot 67.52exp Mar 19ATM strike 67.5ATM straddle 17.10IV 53%

Nov 5 closeprovisionalthin chain

Expected move

Inputs

Next report

Feb 22

after close · in 108 days

est.Q4 FY26

Calendar

Next report

Last report

−4.91%

vs ±12.8% implied · ×0.38

shaded = implied · ▲▼ = realized

Nov 3 '26 · confirmedthin chain

Implied vs realized

Linked news

3hELAN · supplierElanco reports Q3 net income $18 million, revenue $1,265 million

News

Largest filed tie

13F top-10 QoQ

+7.94%

shares held · 10 largest managers

13F · Jun 30 '26129d lag

257 managers

Top fund weight

0.08%

TARS weight · IWM

N-PORTJun 30 '26

3 funds

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

Tarsus Pharmaceuticals (TARS) is expected to report on Feb 22 after close (estimated date).

Implied vs realized

8 reports

1 of 8≥ implied

avg implied: ±12.9%
avg realized: ±6.9%

Feb 25 '25Feb 25 '25confirmed±15.8%▼−9.33%×0.59

May 1 '25May 1 '25confirmed±10.0%▼−5.84%×0.58

Aug 6 '25Aug 6 '25confirmed±12.6%▲+15.15%×1.20

Nov 4 '25Nov 4 '25confirmed±13.3%▼−4.62%×0.35

Feb 23 '26Feb 23 '26confirmed±14.8%▲+7.79%×0.53

Q1 FY26May 6 '26confirmed±13.4%▼−1.24%×0.09

Q2 FY26Aug 6 '26confirmed±10.5%▲+6.59%×0.63

Q3 FY26Nov 3 '26confirmed±12.8%thin chain▼−4.91%×0.38

quarterimplied−20%0+20%realized×

Q3 FY26±12.8%▼−4.91%×0.38

Q2 FY26±10.5%▲+6.59%×0.63

Q1 FY26±13.4%▼−1.24%×0.09

Feb '26±14.8%▲+7.79%×0.53

Nov '25±13.3%▼−4.62%×0.35

Aug '25±12.6%▲+15.15%×1.20

2 older reports

May '25±10.0%▼−5.84%×0.58

Feb '25±15.8%▼−9.33%×0.59

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

Implied vs realized

Positioning

OI · 5 expiries · Nov 5 close

0.06OI · 5 expiries · Nov 5 closeP/C open interest · Mar 19 · first expiry after the report

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

107+23%Nov 2014d0.45236+5%0.45

63+66%Dec 1842d0.27233+1%0.27

357+2%Jan 1570d0.66544+99%0.66

report · Feb 22 · after close · est.

130%Mar 19133d2210%

1660%Apr 16161d0.96173+1%0.96

ExpiryPutsCallsP/C

Nov 2014d107+23%236+5%0.45

Dec 1842d63+66%233+1%0.27

Jan 1570d357+2%544+99%0.66

report · Feb 22 · after close · est.

Mar 19133d130%2210%0.06

Apr 16161d1660%173+1%0.96

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

Positioning

Linked exposure

scenario · straddle±21.5%

Funds 3

IWM±0.0%

UWM±0.0%

VTI±0.0%

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

Linked exposure

Revenue flow

as filedQ3 FY26

−343.49%as filednet margin · revenue +11.88% QoQ · +63.92% YoY

Revenue$195M+11.88%

Gross profit$181M92.86%+11.67%

Operating income−$662M−340.29%−3225.77%

Pre-tax income−$664M−4091.30%

Net income−$668M−343.49%−3502.68%

Cost of revenue$14M+14.70%

Operating expenses$843M+363.81%

Tax$5M+70.91%

Other expense−$2M−139.23%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 5 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 12:30 ET

Intraday

Event sensitivity

NFP ×1.42· ±3.4% vs ±2.4% · 10 releases

eventrelease day|move|up · n×base

NFPjobs report±3.4%2 of 10×1.42

FOMCrate decision±2.5%14 of 24×1.05

PPIproducer prices±2.3%4 of 11×0.94

PCEpersonal income & outlays±1.9%12 of 20×0.77

CPIconsumer prices±1.8%5 of 11×0.77

GDPgross domestic product±1.6%12 of 20×0.68

CPROFcorporate profits±1.2%7 of 12×0.52

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

Earnings history

EPS -14.40 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Nov 3 '26 · confirmed	-14.40	—
Q2 FY26	Aug 6 '26 · confirmed	-0.43	—
Q1 FY26	May 6 '26 · confirmed	-0.16	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod