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

Implied ±20.0%, either direction · provisional.

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

3 of the last 7 reports moved at least as far as the implied move.

XYZNYSEServices-Prepackaged Software

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

75.66

−1.42 · −1.84%

post 80.28 +6.11%

Closed19:57 ET

Open76.73Volume7.0MMkt cap$46.3BP/E140.84EPS0.57

Day75.42 – 82.2072%52-wk48.21 – 86.9283%

XYZ

Block, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±20.0%implied · straddle

60.7891.22

spot 76.00exp Mar 19ATM strike 75ATM straddle 17.90IV 44%

Nov 3 closeprovisional

Expected move

Inputs

Next report

Feb 25

after close · in 114 days

est.Q4 FY26

Calendar

Next report

Last report

Nov 3

after close

confirmedQ3 FY26Nov 2 close

Implied vs realized

Largest filed tie

filed ties

13F top-10 QoQ

−2.47%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

1,083 managers

Top fund weight

5.69%

XYZ weight · BCOR

N-PORTJun 30 '26

11 funds

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

Block (XYZ) is expected to report on Feb 25 after close (estimated date).

Implied vs realized

8 reports

3 of 7≥ implied

avg implied: ±8.5%
avg realized: ±11.4%

Nov 7 '24Nov 7 '24confirmed—▼−0.94%—

Feb 20 '25Feb 20 '25confirmed±8.4%▼−17.69%×2.11

May 1 '25May 1 '25confirmed±8.0%▼−20.43%×2.55

Aug 7 '25Aug 7 '25confirmed±8.6%▼−4.50%×0.52

Q3 FY25Nov 6 '25confirmed±9.3%▼−7.73%×0.83

Q1 FY26Feb 26 '26confirmed±8.5%▲+16.82%×1.98

May 7 '26May 7 '26confirmed±8.1%▲+6.72%×0.83

Q2 FY26Aug 5 '26confirmed±8.3%▼−6.15%×0.74

quarterimplied−25%0+25%realized×

Q2 FY26±8.3%▼−6.15%×0.74

May '26±8.1%

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

Implied vs realized

Positioning

OI · 8 expiries · Nov 3 close

1.01OI · 8 expiries · Nov 3 closeP/C open interest · Mar 19 · first expiry after the report

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

5 nearer expiries

8,103+23%Nov 63d0.4020,206+16%0.40

2,040+43%Nov 1310d0.822,485+27%0.82

54,761+2%Nov 2017d1.2543,977+1%1.25

1,778+53%Nov 2724d1.451,224+32%1.45

171+82%Dec 431d1.12153+9%1.12

25,496+2%Dec 1845d0.3280,5000%0.32

40,3520%Jan 1573d0.5179,288−1%0.51

report · Feb 25 · after close · est.

ExpiryPutsCallsP/C

5 nearer expiries

Nov 63d8,103+23%20,206+16%0.40

Nov 1310d2,040+43%2,485+27%0.82

Nov 2017d54,761+2%43,977

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

Positioning

Linked exposure

scenario · straddle±20.0%

Funds 4

BCOR±1.1%

ARKK±0.4%

XLF±0.1%

RSP±0.0%

Dashed = straddleMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ3 FY26

8.40%as filednet margin · revenue +1.54% QoQ · +9.88% YoY

Revenue

$6.7B+1.54% QoQ

Gross profit

$3.2B+2.19% QoQ

48.15% margin

Operating income

$428M−4.11% QoQ

6.38% margin

Pre-tax income

$612M+103.16% QoQ

Net income

$564M+547.92% QoQ

8.40% margin

Cost of revenue

$3.5B+0.94% QoQ

Operating expenses

$2.8B+3.22% QoQ

SG&A $847M

Marketing $688M

R&D $636M

Other operating $636M

Tax

$48M−77.45% QoQ

Other income

$184M+226.55% QoQ

Revenue$6.7B+1.54%

Gross profit

$3.2B+2.19%

48.15% margin

Operating income

$428M−4.11%

6.38% margin

Pre-tax income

$612M+103.16%

Net income

$564M+547.92%

8.40% margin

Cost of revenue

$3.5B+0.94%

Operating expenses

$2.8B+3.22%

SG&A $847M

Marketing $688M

R&D $636M

Other income$184M+226.55%

Tax$48M−77.45%

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

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 19:45 ET

Intraday

Event sensitivity

PPI ×1.98· ±4.4% vs ±2.2% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±4.4%5 of 10×1.98

FOMCrate decision±2.4%9 of 24×1.08

NFPjobs report±2.3%4 of 10×1.04

CPROFcorporate profits±1.6%6 of 12×0.73

CPIconsumer prices±1.6%4 of 10×0.70

GDPgross domestic product±1.6%10 of 19×0.69

PCEpersonal income & outlays±1.4%8 of 19×0.64

Bar = avg |move| to ±5% · tick = ±2.2% avg day · ×base = |move| ÷ ±2.2% · min 6 releases

Earnings history

EPS 0.92 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	—	0.92	—
Q2 FY26	Aug 5 '26 · confirmed	0.15	—
Q1 FY26	Feb 26 '26 · confirmed	-0.52	—
Q3 FY25	Nov 6 '25 · confirmed	0.74	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod