WULF as of Oct 31 · 13:44 ET

WULFNasdaqFinance Services

Terawulf Inc. · Brief

Next report

13 days

Nov 13 · after closeest.Q3 FY26

Earnings

Expected move

Inputs

±13.3%implied · report alone

10.1613.30

straddle ±19.3%

spot 11.73exp Nov 20ATM strike 11.5ATM straddle 2.67IV 119%

Oct 30 closereport share · term structure

Expected move

Inputs

Implied vs realized

8 reportsHistory

4 of 8≥ implied

avg implied: ±8.7%
avg realized: ±14.3%

Aug 8 '25±11.0%▲+1.82%×0.17

Aug 14 '25±11.1%▲+59.52%×5.37

Oct 28 '25±7.6%▲+16.86%×2.23

Nov 10 '25±9.8%▼−13.50%×1.38

Feb 26 '26±8.2%▼−9.28%×1.14

Q1 FY26±6.4%▼−6.11%×0.95

May 8 '26±6.5%▼−2.62%×0.40

Q2 FY26±9.2%▼−4.29%×0.47

quarterimplied−60%0+60%realized×

Q2 FY26±9.2%▼−4.29%×0.47

May '26±6.5%▼−2.62%×0.40

Q1 FY26±6.4%▼−6.11%×0.95

Feb '26±8.2%▼−9.28%×1.14

Nov '25±9.8%▼−13.50%×1.38

Oct '25±7.6%▲+16.86%×2.23

2 older reports

Aug '25±11.1%▲+59.52%×5.37

Aug '25±11.0%▲+1.82%×0.17

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

Bull & bear

Nov 13 report · est.

Bull2 of 3

9disclosed supplier and customer relationships listed in regulatory filingsSEC filings

515managers reporting positions in regulatory institutional filings13F · Jun 30 '26

Bear2

6 of 24largest reporting managers who trimmed their stake in the latest quarter13F · Jun 30 '26

4 of 8recent reports with moves below the options implied rangeEarnings history

AI captions · Sep 16 '26once per report · top 2 per case

Linked exposure

WULF report session

Suppliers 1

GOOGLGoogle×0.09

× = co-movement · max 501dSource: SEC filings · market data

Latest changes

30 daysAll changes

Oct 30impliedImplied move: ±19.3% into Nov 13 earnings (Oct 30 close).Source

Oct 238-KMaterial agreement: credit agreement with Morgan Stanley Senior Funding, Inc.Source

Your note

privateThesis 0 · Decisions 0 · Observations 0

No thesis.