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

Implied ±14.6%, either direction.

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

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

WULFNasdaqFinance Services

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

12.53

pre 12.71 +1.42%

Pre-market09:15 ET

Open12.05Volume38.0MMkt cap$5.5BEPS-4.40

Day11.73 – 12.71100%52-wk10.35 – 29.8412%

WULF

Terawulf Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±14.6%implied · report alone

8Q avg ±14.3%·×1.02·fair

10.7014.36

straddle ±19.3%

spot 12.53exp Nov 20ATM strike 12.5ATM straddle 2.85IV 132%

Nov 3 closereport share · term structure

Expected move

Inputs

Next report

Nov 13

after close · in 9 days

est.Q3 FY26

Calendar

Next report

Last report

−4.29%

vs ±9.2% implied · ×0.47

shaded = implied · ▲▼ = realized

Aug 5 '26 · confirmed

Implied vs realized

Linked news

14hGOOGL · supplierGoogle responds to political backlash over removing search from schools that ban AI

News

Largest filed tie

13F top-10 QoQ

+21.46%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

515 managers

Top fund weight

0.01%

WULF weight · VTI

N-PORTJun 30 '26

2 funds

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

Terawulf (WULF) is expected to report on Nov 13 after close (estimated date).

Implied vs realized

8 reports

4 of 8≥ implied

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

Aug 8 '25Aug 8 '25confirmed±11.0%▲+1.82%×0.17

Aug 14 '25Aug 14 '25confirmed±11.1%▲+59.52%×5.37

Oct 28 '25Oct 28 '25confirmed±7.6%▲+16.86%×2.23

Nov 10 '25Nov 10 '25confirmed±9.8%▼−13.50%×1.38

Feb 26 '26Feb 26 '26confirmed±8.2%▼−9.28%×1.14

Q1 FY26Apr 14 '26confirmed±6.4%▼−6.11%×0.95

May 8 '26May 8 '26confirmed±6.5%▼−2.62%×0.40

Q2 FY26Aug 5 '26confirmed±9.2%▼−4.29%×0.47

quarterimplied−60%0+60%realized×

Q2 FY26±9.2%▼−4.29%×0.47

May '26±6.5%

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

Implied vs realized

Positioning

OI · 11 expiries · Nov 3 close

0.61OI · 11 expiries · Nov 3 closeP/C open interest · Nov 13 · first expiry after the report

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

32,361+125%Nov 62d0.4965,443+104%0.49

report · Nov 13 · after close · est.

8,849+65%Nov 139d14,522+44%

304,522+2%Nov 2016d0.73418,109+5%0.73

3,595+273%Nov 2723d0.3211,285+485%0.32

7 later expiries

345+31%Dec 430d1.10314+51%1.10

535—Dec 1137d0.17

ExpiryPutsCallsP/C

Nov 62d32,361+125%65,443+104%0.49

report · Nov 13 · after close · est.

Nov 139d8,849+65%14,522+44%0.61

Nov 2016d304,522+2%

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

Positioning

Linked exposure

scenario · straddle±19.3%

Funds 2

VTI±0.0%

VT±0.0%

Suppliers 1

GOOGL±1.7%×0.09

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

Linked exposure

Revenue flow

as filedQ2 FY26

−2101.61%as filednet margin · revenue +31.62% QoQ · −6.02% YoY

Revenue$45M+31.62%

Gross profit$32M72.30%+2.26%

Operating income−$140M−313.74%+13.38%

Pre-tax income−$930M−123.43%

Net income−$941M−2101.61%−119.97%

Cost of revenue$12M+425.20%

Operating expenses$173M−10.82%

Tax$28,0000.00%

Other expense−$789M−210.76%

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 · ▮ downSource: market data · 09:15 ET

Intraday

Event sensitivity

FOMC ×1.31· ±7.0% vs ±5.3% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±7.0%10 of 24×1.31

PPIproducer prices±5.2%4 of 10×0.97

NFPjobs report±4.9%4 of 10×0.92

PCEpersonal income & outlays±4.6%5 of 19×0.87

GDPgross domestic product±4.5%6 of 19×0.84

CPIconsumer prices±3.8%6 of 10×0.70

CPROFcorporate profits±3.6%4 of 12×0.68

Bar = avg |move| to ±7% · tick = ±5.3% avg day · ×base = |move| ÷ ±5.3% · min 6 releases

Earnings history

EPS -1.94 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 5 '26 · confirmed	-1.94	—
Q1 FY26	Apr 14 '26 · confirmed	-1.01	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod