UTHRNasdaqPharmaceutical Preparations

United Therapeutics Corp (UTHR) earnings date, market-implied expected move, and options open interest by expiry

601.98

Closed16:51 ET

Open593.91Volume518,240Mkt cap$25.7BP/E19.91EPS30.23

Day593.91 – 603.6283%52-wk430.02 – 609.9996%

UTHR

United Therapeutics Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±4.1%implied · report alone

8Q avg ±5.8%·×0.71·cheap

574.12623.32

straddle ±6.5%

spot 598.72exp Nov 20ATM strike 600ATM straddle 45.75IV 40%

Oct 30 closereport share · term structure

Expected move

Inputs

Next report

Nov 4

before open · in 4 days

est.Q3 FY26

Calendar

Next report

Last report

+0.06%

vs ±6.1% implied · ×0.01

shaded = implied · ▲▼ = realized

Aug 5 '26 · confirmed

Implied vs realized

Linked news

22hSUPN · supplierSUPN trading halt (T12)
2dLLY · supplierWe're raising our price target on Eli Lilly as the obesity-drug boom rolls on

News

Largest filed tie

13F top-10 QoQ

−9.15%

shares held · 10 largest managers

13F · Jun 30 '26123d lag

886 managers

Top fund weight

0.92%

UTHR weight · XBI

N-PORTJun 30 '26

6 funds

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

United Therapeutics (UTHR) is expected to report on Nov 4 before open (estimated date). Implied ±4.1%, either direction.

Implied vs realized

8 reports

—≥ implied

Oct 30 '24Oct 30 '24confirmed—▲+2.44%—

Feb 26 '25Feb 26 '25confirmed—▼−10.80%—

Apr 30 '25Apr 30 '25confirmed—▲+0.77%—

Jul 30 '25Jul 30 '25confirmed—▼−5.25%—

Q3 FY25Oct 29 '25confirmed—▲+9.63%—

Q1 FY26Feb 25 '26confirmed—▲+13.03%—

May 6 '26May 6 '26confirmed—▲+4.29%—

Q2 FY26Aug 5 '26confirmed±6.1%▲+0.06%×0.01

quarterimplied−15%0+15%realized×

Q2 FY26±6.1%▲+0.06%×0.01

May '26—▲+4.29%—

Q1 FY26—▲+13.03%—

Q3 FY25—▲+9.63%—

Jul '25—▼−5.25%—

Apr '25—▲+0.77%—

2 older reports

Feb '25—▼−10.80%—

Oct '24—▲+2.44%—

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

Implied vs realized

Positioning

OI · 4 expiries · Oct 27 close

0.67OI · 4 expiries · Oct 27 closeP/C open interest · Nov 20 · first expiry after the report

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

2,474+3%Nov 2020d3,6870%

124+17%Dec 1848d4.1330+67%4.13

575+5%Jan 1576d0.222,6290%0.22

5540%Feb 19111d2.692060%2.69

ExpiryPutsCallsP/C

Nov 2020d2,474+3%3,6870%0.67

Dec 1848d124+17%30+67%4.13

Jan 1576d575+5%2,6290%0.22

Feb 19111d5540%2060%2.69

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

Positioning

Linked exposure

scenario · straddle±6.5%

Funds 4

XBI±0.1%

MDY±0.0%

FTC±0.0%

REVS±0.0%

Suppliers 1

MNKD±2.8%×0.44

Dashed = straddle · × = co-movement · max 501dMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

42.51%as filednet margin · revenue +0.23% QoQ · −1.92% YoY

Revenue

$783M+0.23% QoQ

Gross profit

$684M+5.51% QoQ

87.30% margin

Operating income

$331M+1.53% QoQ

42.23% margin

Pre-tax income

$373M+17.09% QoQ

Net income

$333M+21.13% QoQ

42.51% margin

Cost of revenue

$100M−25.41% QoQ

Operating expenses

$353M+9.53% QoQ

SG&A $207M

R&D $146M

Tax

$40M−8.53% QoQ

Other income

$42M+658.67% QoQ

Revenue$783M+0.23%

Gross profit

$684M+5.51%

87.30% margin

Operating income

$331M+1.53%

42.23% margin

Pre-tax income

$373M+17.09%

Net income

$333M+21.13%

42.51% margin

Cost of revenue

$100M−25.41%

Operating expenses

$353M+9.53%

SG&A $207M

R&D $146M

Other income$42M+658.67%

Tax$40M−8.53%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Oct 30 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 16:45 ET

Intraday

Event sensitivity

FOMC ×1.82· ±2.5% vs ±1.4% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±2.5%15 of 24×1.82

CPROFcorporate profits±2.1%4 of 12×1.47

GDPgross domestic product±2.0%9 of 19×1.46

PCEpersonal income & outlays±1.5%9 of 19×1.04

NFPjobs report±1.3%4 of 10×0.94

CPIconsumer prices±1.2%2 of 10×0.86

PPIproducer prices±0.7%5 of 10×0.49

Bar = avg |move| to ±3% · tick = ±1.4% avg day · ×base = |move| ÷ ±1.4% · min 6 releases

Earnings history

EPS 7.27 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 5 '26 · confirmed	7.27	—
Q1 FY26	Feb 25 '26 · confirmed	5.82	—
Q3 FY25	Oct 29 '25 · confirmed	7.16	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod