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

Implied ±8.7%, either direction.

How often does Clear Secure move more than the options market prices?

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

YOUNYSEServices-Prepackaged Software

Clear Secure, Inc. (YOU) earnings date, market-implied expected move, and options open interest by expiry

45.98

Closed16:00 ET

Open46.34Volume1.4MMkt cap$6.2BP/E42.07Div yield1.25%

Day45.78 – 46.9916%52-wk29.71 – 68.8342%

YOU

Clear Secure, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±8.7%implied · report alone

8Q avg ±11.3%·×0.77·cheap

41.9750.01

straddle ±11.8%

spot 45.99exp Nov 20ATM strike 46ATM straddle 6.40IV 73%

Oct 30 closereport share · term structure

Expected move

Inputs

Next report

Nov 4

before open · in 4 days

confirmedQ3 FY26

Calendar

Next report

Last report

+1.31%

vs ±15.8% implied · ×0.08

shaded = implied · ▲▼ = realized

Aug 5 '26 · confirmed

Implied vs realized

Linked news

21hAXP · supplierAmerican Express issues $1,500,000,000 5.447% and $1,150,000,000 5.817% notes; $350,000,000 floating

News

Largest filed tie

13F top-10 QoQ

+3.69%

shares held · 10 largest managers

13F · Jun 30 '26123d lag

451 managers

Top fund weight

0.16%

YOU weight · IWM

N-PORTJun 30 '26

4 funds

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

Clear Secure (YOU) reports on Nov 4 before open (confirmed date).

Implied vs realized

8 reports

2 of 7≥ implied

avg implied: ±13.9%
avg realized: ±12.4%

Nov 7 '24Nov 7 '24confirmed±14.9%▼−25.80%×1.73

Feb 26 '25Feb 26 '25confirmed±14.0%▼−6.48%×0.46

May 8 '25May 8 '25confirmed±15.1%▼−7.61%×0.50

Aug 5 '25Aug 5 '25confirmed±12.3%▲+6.17%×0.50

Q3 FY25Nov 6 '25confirmed±11.5%▲+0.72%×0.06

Q1 FY26Feb 25 '26confirmed±13.5%▲+38.96%×2.89

May 6 '26May 6 '26confirmed—▲+3.69%—

Q2 FY26Aug 5 '26confirmed±15.8%▲+1.31%×0.08

quarterimplied−40%0+40%realized×

Q2 FY26±15.8%▲+1.31%×0.08

May '26—▲+3.69%

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

Implied vs realized

Positioning

OI · 5 expiries · Oct 28 close

0.17OI · 5 expiries · Oct 28 closeP/C open interest · Nov 20 · first expiry after the report

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

2,698−1%Nov 2020d16,2660%

1,2610%Dec 1848d2.46512+1%2.46

1,3620%Jan 1576d0.413,342+2%0.41

1710%Feb 19111d0.131,3180%0.13

4940%Mar 19139d0.401,2420%0.40

ExpiryPutsCallsP/C

Nov 2020d2,698−1%16,2660%0.17

Dec 1848d1,2610%512+1%2.46

Jan 1576d1,3620%3,342+2%0.41

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

Positioning

Linked exposure

scenario · straddle±11.8%

Funds 4

IWM±0.0%

UWM±0.0%

VTI±0.0%

VT±0.0%

Suppliers 1

AXP±1.7%×0.15

Dashed = straddle · × = co-movement · max 500dMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

26.03%as filednet margin · revenue +9.78% QoQ · +26.56% YoY

Revenue

$278M+9.78% QoQ

Gross profit

$230M+12.21% QoQ

82.72% margin

Operating income

$83M+33.79% QoQ

29.86% margin

Pre-tax income

$91M+29.13% QoQ

Net income

$72M+28.25% QoQ

26.03% margin

Cost of revenue

$48M−0.53% QoQ

Operating expenses

$147M+2.84% QoQ

SG&A $66M

Other operating $39M

R&D $18M

Other operating $24M

Tax

$19M+32.62% QoQ

Other income

$8M−3.90% QoQ

Revenue$278M+9.78%

Gross profit

$230M+12.21%

82.72% margin

Operating income

$83M+33.79%

29.86% margin

Pre-tax income

$91M+29.13%

Net income

$72M+28.25%

26.03% margin

Cost of revenue

$48M−0.53%

Operating expenses

$147M+2.84%

SG&A $66M

Other operating $39M

R&D $18M

Other income$8M−3.90%

Tax$19M+32.62%

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 · 16:00 ET

Intraday

Event sensitivity

FOMC ×1.45· ±3.0% vs ±2.1% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±3.0%11 of 24×1.45

CPIconsumer prices±2.4%2 of 10×1.12

PCEpersonal income & outlays±1.6%12 of 19×0.78

PPIproducer prices±1.5%3 of 10×0.73

NFPjobs report±1.5%3 of 10×0.70

GDPgross domestic product±1.2%12 of 19×0.56

CPROFcorporate profits±1.1%7 of 12×0.54

Bar = avg |move| to ±4% · tick = ±2.1% avg day · ×base = |move| ÷ ±2.1% · min 6 releases

Earnings history

EPS 0.98 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 5 '26 · confirmed	0.98	—
Q1 FY26	Feb 25 '26 · confirmed	0.76	—
Q3 FY25	Nov 6 '25 · confirmed	0.58	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod