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

Implied ±11.1%, either direction.

How often does Trupanion move more than the options market prices?

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

TRUPNasdaqHospital & Medical Service Plans

Trupanion, Inc. (TRUP) earnings date, market-implied expected move, and options open interest by expiry

30.74

+0.61 · +2.03%

post 30.74 0.00%

Closed16:00 ET

Open30.11Volume432,426Mkt cap$1.3BP/E58.00EPS0.53

Day30.10 – 30.74100%52-wk21.16 – 46.9837%

TRUP

Trupanion, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±11.1%implied · report alone

8Q avg ±11.0%·×1.01·fair

27.3534.15

straddle ±12.6%

spot 30.75exp Nov 20ATM strike 30ATM straddle 4.55IV 84%

Nov 2 closereport share · term structure

Expected move

Inputs

Next report

Nov 5

after close · in 3 days

est.Q3 FY26

Calendar

Next report

Last report

+15.46%

vs ±13.0% implied · ×1.19

shaded = implied · ▲▼ = realized

Aug 5 '26 · confirmed

Implied vs realized

Largest filed tie

30.00%

of TRUP revenue · Pets Best Insurance Services ("Pets Best")

customerTRUP 10-K

Supply chain

Largest filed tie

13F top-10 QoQ

+0.86%

shares held · 10 largest managers

13F · Jun 30 '26126d lag

200 managers

Top fund weight

0.03%

TRUP weight · IWM

N-PORTJun 30 '26

4 funds

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

Trupanion (TRUP) is expected to report on Nov 5 after close (estimated date).

Implied vs realized

8 reports

4 of 8≥ implied

avg implied: ±12.9%
avg realized: ±11.0%

Oct 30 '24Oct 30 '24confirmed±14.2%▼−0.62%×0.04

Feb 19 '25Feb 19 '25confirmed±12.7%▼−25.49%×2.00

May 1 '25May 1 '25confirmed±14.8%▲+23.49%×1.58

Aug 7 '25Aug 7 '25confirmed±11.6%▲+0.12%×0.01

Q3 FY25Nov 6 '25confirmed±12.5%▼−8.34%×0.67

Feb 12 '26Feb 12 '26confirmed±11.4%▼−13.01%×1.14

Q1 FY26Apr 30 '26confirmed±12.9%▲+1.42%×0.11

Q2 FY26Aug 5 '26confirmed±13.0%▲+15.46%×1.19

quarterimplied−30%0+30%realized×

Q2 FY26±13.0%▲+15.46%×1.19

Q1 FY26±12.9%

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

Implied vs realized

Positioning

OI · 2 expiries · Oct 30 close

0.41OI · 2 expiries · Oct 30 closeP/C open interest · Nov 20 · first expiry after the report

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

4210%Nov 2018d1,0150%

1710%Feb 19109d0.121,4670%0.12

ExpiryPutsCallsP/C

Nov 2018d4210%1,0150%0.41

Feb 19109d1710%1,4670%0.12

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

Positioning

Linked exposure

scenario · straddle±12.6%

Funds 4

IWM±0.0%

UWM±0.0%

VTI±0.0%

VT±0.0%

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

Linked exposure

Revenue flow

as filedQ2 FY26

1.74%as filednet margin · revenue +2.31% QoQ · +11.14% YoY

Revenue

$393M+2.31% QoQ

Gross profit

$65M+5.93% QoQ

16.58% margin

Operating income

$6M+33.50% QoQ

1.62% margin

Pre-tax income

$7M+23.79% QoQ

Net income

$7M+39.98% QoQ

1.74% margin

Cost of revenue

$328M+1.62% QoQ

Operating expenses

$59M+3.60% QoQ

Marketing $23M

SG&A $20M

R&D $13M

Other operating $4M

Tax

$542,000−49.63% QoQ

Other income

$997,000−15.51% QoQ

Revenue$393M+2.31%

Gross profit

$65M+5.93%

16.58% margin

Operating income

$6M+33.50%

1.62% margin

Pre-tax income

$7M+23.79%

Net income

$7M+39.98%

1.74% margin

Cost of revenue

$328M+1.62%

Operating expenses

$59M+3.60%

Marketing $23M

SG&A $20M

R&D $13M

Other income$997,000−15.51%

Tax$542,000−49.63%

flow · deduction · inflow · 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 · 16:00 ET

Intraday

Event sensitivity

CPI ×1.43· ±3.7% vs ±2.6% · 10 releases

eventrelease day|move|up · n×base

CPIconsumer prices±3.7%3 of 10×1.43

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 5 '26 · confirmed	0.16	—
Q1 FY26	Apr 30 '26 · confirmed	0.11	—
Q3 FY25	Nov 6 '25 · confirmed	0.13	—

Trupanion, Inc. (TRUP) earnings date, market-implied expected move, and options open interest by expiry

Implied vs realized

Implied vs realized

Positioning

Positioning

Linked exposure

Linked exposure

Revenue flow

Revenue flow

Intraday

Intraday

Event sensitivity

Implied vs realized

Positioning

Trupanion, Inc. (TRUP) earnings date, market-implied expected move, and options open interest by expiry

Intraday

Linked exposure

Event sensitivity

Earnings history

Methodology

Revenue flow