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

Implied ±6.4%, either direction.

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

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

VTRSNasdaqPharmaceutical Preparations

Viatris Inc (VTRS) earnings date, market-implied expected move, and options open interest by expiry

19.15

+0.23 · +1.22%

Regular session09:49 ET

Open19.00Volume7.2MMkt cap$21.4BEPS-0.40Div yield2.57%

Day19.00 – 19.3642%52-wk9.58 – 19.5196%

VTRS

Viatris Inc

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±6.4%implied · report alone

8Q avg ±8.7%·×0.73·cheap

17.7220.12

straddle ±7.5%

spot 18.92exp Nov 20ATM strike 19ATM straddle 1.68IV 51%

Nov 3 closereport share · term structure

Expected move

Inputs

Next report

Nov 5

before open · in 1 day

confirmedQ3 FY26

Calendar

Next report

Last report

−7.71%

vs ±7.5% implied · ×1.03

shaded = implied · ▲▼ = realized

Aug 6 '26 · confirmed

Implied vs realized

Largest filed tie

11.00%

of VTRS revenue · Cencora, Inc. (formerly AmerisourceBergen Corporation)

customerVTRS 10-K

Supply chain

Largest filed tie

13F top-10 QoQ

+14.53%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

1,033 managers

Top fund weight

0.32%

VTRS weight · XLV

N-PORTJun 30 '26

9 funds

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

Viatris (VTRS) reports on Nov 5 before open (confirmed date).

Implied vs realized

8 reports

4 of 8≥ implied

avg implied: ±7.7%
avg realized: ±8.7%

Nov 7 '24Nov 7 '24confirmed±5.9%▲+13.52%×2.31

Feb 27 '25Feb 27 '25confirmed±7.4%▼−15.21%×2.05

May 8 '25May 8 '25confirmed±8.0%▲+5.70%×0.71

Aug 7 '25Aug 7 '25confirmed±8.0%▲+7.32%×0.92

Q3 FY25Nov 6 '25confirmed±7.7%▼−5.95%×0.77

Q1 FY26Feb 26 '26confirmed±8.8%▼−5.16%×0.59

May 7 '26May 7 '26confirmed±7.9%▲+9.03%×1.14

Q2 FY26Aug 6 '26confirmed±7.5%▼−7.71%×1.03

quarterimplied−20%0+20%realized×

Q2 FY26±7.5%▼−7.71%×1.03

May '26±7.9%

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

0.46OI · 4 expiries · Oct 30 closeP/C open interest · Nov 20 · first expiry after the report

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

3,826+5%Nov 2016d8,292+6%

615+72%Dec 1844d1.03595+18%1.03

19,0040%Jan 1572d0.2576,3590%0.25

524+4%Apr 16163d0.431,220+12%0.43

ExpiryPutsCallsP/C

Nov 2016d3,826+5%8,292+6%0.46

Dec 1844d615+72%595+18%1.03

Jan 1572d19,0040%76,3590%0.25

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

Positioning

Linked exposure

scenario · straddle±7.5%

Funds 4

XLV±0.0%

REVS±0.0%

RSP±0.0%

VOO±0.0%

Suppliers 1

TBPH±2.7%×0.35

Dashed = straddle · × = co-movement · max 487dMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

−3.16%as filednet margin · revenue +6.82% QoQ · +4.88% YoY

Revenue$3.8B+6.82%

Gross profit$1.5B38.77%+25.86%

Operating income$6M0.17%+107.90%

Pre-tax income−$64M+74.12%

Net income−$119M−3.16%−167.35%

Cost of revenue$2.3B−2.52%

Operating expenses$1.5B+17.24%

Tax$55M+112.93%

Other expense−$70M+58.05%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 09:45 ET

Intraday

Event sensitivity

GDP ×1.40· ±2.0% vs ±1.4% · 20 releases

eventrelease day|move|up · n×base

GDPgross domestic product±2.0%9 of 20×1.40

FOMCrate decision±1.6%13 of 24×1.13

PPIproducer prices±1.6%6 of 11×1.11

CPIconsumer prices±1.6%5 of 11×1.09

PCEpersonal income & outlays±1.3%8 of 20×0.94

NFPjobs report±1.3%5 of 10×0.93

CPROFcorporate profits±1.3%7 of 12×0.93

Bar = avg |move| to ±2% · tick = ±1.4% avg day · ×base = |move| ÷ ±1.4% · min 6 releases

Earnings history

EPS -0.10 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 6 '26 · confirmed	-0.10	—
Q1 FY26	Feb 26 '26 · confirmed	0.15	—
Q3 FY25	Nov 6 '25 · confirmed	-0.11	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod