Under the proposal, the benefit of offsetting positions across different expiries will not be available on the day of expiry for singlestock derivative contracts expiring that day.
The review follows feedback from market participants flagging potential risks arising from calendar-spread benefits on expiry days for single-stock contracts. A calendar spread is when a trader holds the same stock’s derivatives with two different expiry dates, which lowers margin because the positions offset each other. The risk appears on expiry day when the near-month contract expires and the hedge no longer exists. This leaves the trader exposed to one-way moves on the remaining position.
“It is clarified that the existing margin calculations for calendar-spread positions shall remain unchanged for calendar-spread positions involving all expiries other than the contracts expiring on a given day,” Sebi said in a circular. The new rule will take effect three months from the date of the circular.
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Currently, for index derivatives, calendar-spread benefits are already unavailable on the day of expiry for contracts maturing that day.
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Sebi said the proposal would align the treatment of calendar spreads in single-stock derivatives with that of index derivatives and give trading members sufficient time either to bring in additional margin on expiry day or roll over positions. “In the absence of such formulation, there remains a risk of sudden increase in margin on the day following expiry of one leg of the calendar-spread position, with limited recourse available to trading members in case of margin shortfall or an open leg showing significant adverse price movement,” it added.
The 2026 NBA trade deadline delivered fireworks on February 5, with a flurry of blockbuster deals reshaping contenders and rebuilding squads alike. The day featured high-profile names like James Harden, Anthony Davis, Jonathan Kuminga, Kristaps Porziņģis and Jaren Jackson Jr. changing teams, as franchises made aggressive pushes to bolster rosters ahead of the postseason.
The deadline officially closed at 3 p.m. ET, but the action accelerated in the final 48 hours. Cleveland landed Harden, Dallas parted ways with Davis in a massive overhaul, Golden State ended its Kuminga saga by acquiring Porziņģis, and Utah shocked the league by trading for Jackson Jr. from Memphis. The moves reflected a league in flux — contenders doubling down, middling teams pivoting, and sellers stockpiling assets.
Here are the most impactful trades from the 2026 deadline, their immediate implications, and how they could alter the playoff landscape.
Cleveland Cavaliers Acquire James Harden from LA Clippers
Cleveland receives: James Harden LA Clippers receive: Darius Garland, future second-round pick
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The Cavaliers pulled off the deadline’s biggest coup by landing Harden from the Clippers in exchange for Garland and a second-rounder. Harden, 36, brings elite playmaking and scoring punch to a Cleveland backcourt that struggled with consistency after Garland’s inconsistent play. The move pairs Harden with Donovan Mitchell and Evan Mobley in a lineup that now projects as one of the East’s top offensive threats.
Analysts gave Cleveland high marks for the upgrade. Harden averaged 19.8 points and 8.5 assists this season; Garland’s defense and availability had become liabilities. The Cavs are now firmly in the East title conversation, especially if Harden stays healthy.
Dallas Mavericks Trade Anthony Davis to Washington Wizards
Dallas receives: Khris Middleton, AJ Johnson, Malaki Branham, Marvin Bagley III, Oklahoma City’s 2026 first-round pick, Phoenix’s 2026 second-round pick, Chicago’s 2027 second-round pick, Houston’s 2029 second-round pick, Golden State’s 2030 first-round pick (top-20 protected) Washington receives: Anthony Davis, Jaden Hardy, D’Angelo Russell, Dante Exum
The Mavericks shocked the league by moving Davis — acquired in the Luka Dončić trade just one year earlier — to the Wizards in a package heavy on young players, veterans and future picks. Davis’ injury history and fit alongside Kyrie Irving prompted the reset. Dallas gains Middleton’s veteran scoring and shooting, plus lottery upside in Johnson and Branham, while adding significant draft capital.
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The Wizards, meanwhile, land a superstar big man to pair with their young core, betting on Davis’ health for a quick retool. Grades ranged from A- to B- for Dallas (future assets) and A- for Washington (star power at low cost).
Golden State Warriors Trade Jonathan Kuminga & Buddy Hield to Atlanta Hawks for Kristaps Porziņģis
Golden State receives: Kristaps Porziņģis Atlanta receives: Jonathan Kuminga, Buddy Hield
The Warriors ended months of Kuminga speculation by shipping the 23-year-old forward and Hield to Atlanta for Porziņģis. The move gives Golden State a 7-foot-3 stretch big who can space the floor for Stephen Curry and Jimmy Butler while providing rim protection. Porziņģis, 30, has one year and $36 million left on his deal.
Atlanta gains a young, athletic wing in Kuminga who fits their timeline and adds scoring punch. The trade drew praise for both sides: Golden State upgrades its frontcourt for a title push, while the Hawks invest in youth.
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Other Notable Deadline Moves
Utah Jazz Acquire Jaren Jackson Jr. from Memphis Grizzlies — An eight-player, three-pick blockbuster sent the former Defensive Player of the Year to Utah. Memphis gets youth and picks; Utah accelerates its timeline.
Oklahoma City Thunder Acquire Jared McCain from Philadelphia 76ers — OKC adds a promising young guard for a 2026 first-round pick and seconds. The rich keep getting richer.
Charlotte Hornets Acquire Coby White & Mike Conley from Chicago Bulls — Charlotte lands scoring (White) and leadership (Conley); Chicago gets youth and picks in a retool.
Cleveland Cavaliers Acquire Dennis Schröder & Keon Ellis from Sacramento Kings — Cleveland bolsters depth; Kings get De’Andre Hunter.
The deadline saw fewer three-team deals than expected but plenty of star movement. Giannis Antetokounmpo rumors never materialized, and Ja Morant stayed put, but the action still reshaped the playoff picture.
Contenders like Cleveland, Golden State and Utah strengthened; middling teams like Dallas and Chicago pivoted; and sellers like Memphis and Philadelphia stockpiled assets. As the regular season enters its final stretch, the Eastern and Western Conference races just got more intriguing.
Doximity, Inc. (DOCS) Q3 2026 Earnings Call February 5, 2026 5:00 PM EST
Company Participants
Perry Gold – Head of Investor Relations Jeffrey Tangney – Co-Founder, CEO & Chairperson Timothy Cabral
Conference Call Participants
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Brian Peterson – Raymond James & Associates, Inc., Research Division Michael Cherny – Leerink Partners LLC, Research Division Allen Lutz – BofA Securities, Research Division Glen Santangelo – Barclays Bank PLC, Research Division Elizabeth Anderson – Evercore ISI Institutional Equities, Research Division Craig Hettenbach – Morgan Stanley, Research Division Ryan MacDonald – Needham & Company, LLC, Research Division David Roman – Goldman Sachs Group, Inc., Research Division Scott Schoenhaus – KeyBanc Capital Markets Inc., Research Division Jeffrey Garro – Stephens Inc., Research Division Stanislav Berenshteyn – Wells Fargo Securities, LLC, Research Division Ryan Halsted – RBC Capital Markets, Research Division Richard Close – Canaccord Genuity Corp., Research Division
Presentation
Operator
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Thank you for standing by. My name is Joe, and I will be your conference operator today. At this time, I would like to welcome everyone to the Doximity Third Quarter 2026 Earnings Call. [Operator Instructions] I would now like to turn the conference over to Perry Gold VP of Investor Relations. Go ahead.
Perry Gold Head of Investor Relations
Thank you, operator. Hello, and welcome to Doximity’s Fiscal 2026 Third Quarter Earnings Call. With me on the call today are Jeff Tangney, Co-Founder and CEO of Doximity; and Audit Committee Chair and Board member, Tim Cabral, who is stepping in to help out with our CFO, Anna Bryson, currently on medical leave.
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A complete disclosure of our results can be found in our press release issued earlier today as well as in our related Form 8-K, along with a copy of our prepared remarks all available on our website at investors.doximity.com.
As a reminder, today’s call is being recorded, and a replay will be available on our website. As part
Instagram remains the undisputed king of social media for soccer stars. With over 2.5 billion monthly active users worldwide, the platform has become the primary stage where athletes showcase their lives, brands, endorsements, and football highlights. In 2026, the gap between the top influencers and the rest of the pack has widened dramatically, driven by global stardom, off-field charisma, and massive commercial deals.
Here are the 10 soccer players with the most Instagram followers as of February 2026, complete with exact follower counts (real-time verified), key growth stats, content style analysis, and why each player dominates the platform.
Cristiano Ronaldo
1. Cristiano Ronaldo – 715.8 million followers
@cristiano The undisputed No. 1. Ronaldo crossed 700 million followers in late 2025 and continues to add roughly 1.2–1.8 million new followers every month. His account is a masterclass in personal branding: daily workout videos, family moments, luxury lifestyle posts, Al-Nassr highlights, and motivational captions. Key stat: His “Siuuu!” celebration reel from a 2025 friendly has over 1.4 billion views — the most-watched sports video in Instagram history. Why he leads: Ronaldo posts more frequently than any other athlete (often 3–5 times daily), engages personally in comments, and has mastered Reels algorithm domination.
2. Lionel Messi – 532.4 million followers
@leomessi Messi trails Ronaldo by a significant margin but still holds second place comfortably. His growth accelerated in 2025–2026 thanks to Inter Miami’s MLS success, the 2026 World Cup hype, and his family-oriented content. Key stat: His post announcing the birth of his third child in 2025 garnered 78 million likes — an Instagram record for a sports figure. Content style: Much quieter than Ronaldo — fewer posts (1–2 per week), but each one is high-impact (family, trophies, Miami highlights). Growth driver: Messi’s move to MLS and World Cup ambassador role have exploded his North American following.
3. Neymar Jr. – 238.7 million followers
@neymarjr Neymar remains the third-most-followed athlete globally. Despite injury setbacks and his move to Al-Hilal in Saudi Arabia, his flamboyant lifestyle, music releases, and frequent party content keep engagement sky-high. Key stat: His 2025 music video collaboration with Anitta racked up 420 million views on Instagram Reels. Why he stays top 3: Neymar’s off-field persona (fashion, tattoos, celebrity friendships) generates massive viral moments.
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4. Kylian Mbappé – 192.1 million followers
@k.mbappe Mbappé overtook David Beckham in late 2025 to become the fourth-most-followed soccer player. His move to Real Madrid in 2025, combined with France’s World Cup qualification, sent his numbers soaring. Key stat: His debut goal for Real Madrid in LaLiga generated 92 million views in 24 hours — the biggest single-post spike of 2025. Growth driver: Mbappé’s clean image, fashion collabs (Louis Vuitton, Dior), and status as the “next face of football” make him irresistible to brands and younger fans.
5. Mohamed Salah – 105.4 million followers
@mohsalah The Egyptian King crossed 100 million in mid-2025 and continues to grow steadily. Salah’s content mix of intense training, family moments, charity work, and Liverpool highlights resonates deeply in the Arab world and Africa. Key stat: His Ramadan posts in 2025 consistently receive 15–20 million likes — among the highest engagement rates in sports. Why he ranks so high: Salah is a cultural icon in the Middle East and North Africa, where Instagram penetration is exploding.
6. Karim Benzema – 89.3 million followers
@karimbenzema Despite leaving Real Madrid for Al-Ittihad, Benzema’s follower count keeps climbing thanks to his lavish lifestyle in Saudi Arabia, business ventures, and occasional football highlights. Key stat: His 2025 luxury car collection post received 28 million likes — one of the most-liked soccer posts of the year. Growth driver: Benzema’s “Ballon d’Or aura” and Middle Eastern fanbase.
7. Erling Haaland – 78.6 million followers
@erlinghaaland The Norwegian striker’s numbers exploded after winning the 2025 Ballon d’Or and leading Manchester City to another Premier League title. His content focuses heavily on training, diet, and absurd goal-scoring reels. Key stat: His “hat-trick in 3 minutes” compilation from 2025 has 1.1 billion views across platforms. Why he’s rising fast: Haaland is the face of the next generation — young, dominant, and marketable.
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8. Vinícius Júnior – 67.2 million followers
@vinijr Vinícius crossed 60 million in 2025 and is growing faster than any other top-10 player. His dance celebrations, charity work, and Real Madrid highlights keep fans engaged. Key stat: His 2025 Ballon d’Or runner-up speech post received 45 million likes. Growth driver: Vinícius is a cultural icon in Brazil and Latin America, with massive appeal to Gen Z.
9. Sergio Ramos – 62.1 million followers
@sergioramos Even at 40, Ramos remains a social media powerhouse. His retirement announcement in 2025, followed by his move to a Saudi Pro League club, kept him relevant. Key stat: His farewell post from Sevilla in 2025 garnered 38 million likes. Why he stays high: Ramos’ controversial personality and legendary status ensure constant engagement.
10. Ronaldinho – 58.9 million followers
@ronaldinho The Brazilian legend has the most passive growth of the top 10 — almost no new content, yet his classic highlights and throwback posts keep him in the top 10. Key stat: His 2025 freestyle video with his son garnered 320 million views. Why he endures: Ronaldinho is football nostalgia personified.
Key Takeaways & Trends for 2026
Ronaldo vs. Messi gap widens: Ronaldo adds followers faster due to volume and engagement; Messi grows steadily but at a slower pace.
Saudi Pro League boost: Players like Neymar, Benzema, and Ramos benefit from massive Middle Eastern followings.
Real Madrid dominance: Mbappé, Vinícius, and Bellingham (just outside top 10 at ~55M) show the club’s social media power.
Young stars rising fast: Haaland, Vinícius, and Pedri (emerging top-15 candidate) are the fastest-growing active players.
Engagement over followers: Messi and Salah often have higher like-to-follower ratios than Ronaldo due to more curated posting.
As soccer’s global audience continues to explode, Instagram follower counts have become a legitimate measure of stardom, marketability, and cultural influence. In 2026, the top 10 list reflects both on-field greatness and off-field charisma — a perfect blend of football talent and digital dominance.
Treasury Secretary Scott Bessent is testifying before Congress, and he’s reinforcing his new approach to financial stability.
In prepared remarks before the House Financial Services Committee, Bessent said that the financial watchdog–Financial Stability Oversight Council (FSOC)–is paring back existing regulations and centering its efforts on economic growth and security.
“Going forward, regulation and supervision should address material risks, enhance transparency, and reduce unnecessary burdens—particularly for community banks,” he said.
A subsidiary of Perth-based uranium miner Berkeley Energia has filed a US$1.25 billion compensation claim against Spain over its hamstrung Salamanca uranium project.
Mumbai : Atechnical glitch at National Securities Depository (NSDL) resulted in a delay in settlement of trades executed over the past three days. Shares bought by several investors associated with the depository since Tuesday are yet to reflect in their demat accounts, preventing them from selling those holdings, said officials at multiple brokerages on Thursday.
The likely cause is a technical disruption inside NSDL that affected its ability to process inter-depository transfers with its bigger rival, CDSL. Since several trading settlements often require securities to move across the two depositories––a routine process, any snag in NSDL’s inter-depository routing hinders the credit of shares to individual client demat accounts.
As a result, securities have been credited to broker pool accounts but have not been allocated to end-investor demat accounts, leaving clients temporarily unable to trade those holdings, sources said.
“This was not some isolated case; clients of all broking firms face issues because of the issue in inter-depository transfer emanating from NSDL,” said the chief of a brokerage on condition of anonymity.
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While brokers did not report similar settlement delays at rival depository CDSL, NSDL is understood to have moved to its Disaster Recovery (DR) site to address the issue. The exact reason behind the snag at NSDL could not be ascertained. Email queries to NSDL remained unanswered until press time.
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India’s equity settlement process follows a T+1 cycle. After trades are completed on the exchange, the clearing corporation settles them the next day before 10:30 am by collecting securities and funds from brokers and releasing payouts by the afternoon, around 3:30 pm. After this, depositories credit shares to investors’ demat accounts. This week, the technical disruption at NSDL delayed this final step.“Due to a glitch on NSDL’s end, inter-depository transfer of shares has been impacted, due to which brokers were unable to complete pay-ins to clearing corporations,” said the chief operating officer of a retail brokerage who did not want to be named.
“Clearing corporations have transferred some shares from CDSL to the brokers’ CDSL Pool account, which ideally should have gone directly to customers’ Demat accounts. NSDL was unable to do BOD (Beginning Of Day) of its systems to the next working day until this afternoon, due to which operations have been delayed.”BOD is the depository’s opening snapshot of the investors’ demat account. If shares aren’t there at the start of the day, investors can’t use or sell them that day.
Mumbai : Better than expected levels in the latest open market operation (OMO) auction of ₹50,000 crore triggered a rally in bond yields, as the 10 year benchmark yield closed at 6.65%, four basis points lower than its previous close, CCIL data showed.
The OMO received bids of ₹87,161 crore, and three out of the seven bonds in the auction were accepted at lucrative levels than market prices, treasury heads said.
The 7.18% GS 2033 paper saw the most demand, with ₹26,406 crore offered, of which the RBI accepted ₹20,346 crore. While the 6.92% GS 2039 paper saw the least demand with markets offering ₹1,999 crore, of which the RBI accepted ₹1,780 crore.
A ₹50,000 crore Open Market Operation auction saw better-than-expected demand, leading to a rally in bond yields. The 10-year benchmark yield dropped four basis points to 6.65%. This operation, part of the RBI’s liquidity infusion measures, is expected to move system liquidity into a comfortable surplus.
“The OMO was definitely better than expected and as soon as the cut off prices were released, the 10-year paper saw a rally. The RBI took some bonds at lucrative levels than the market, especially the 6.33% GS 2035 paper,” said Gopal Tripathi, head of treasury at Jana Small Finance Bank. The price of 6.33% GS 2035 paper was trading at 97.97, while the RBI accepted the paper at 98.18.
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Similarly the 6.28% GS 2035 paper was trading at a price of 98.68, while the RBI accepted the paper at 98.73, CCIL and RBI data showed. The OMO auction was part of the RBI’s recent liquidityinfusing measures and marked the final operation in the current OMO calendar. Experts do not expect additional steps in the near term, as system liquidity is likely to move into a comfortable surplus once the proceeds from this OMO auction are fully infused into the banking system. “I do not expect any immediate announcement on liquidity in the policy on Friday. With this OMO auction, the system liquidity will be around ₹2.50 lakh crore. Additionally, the pressure on rupee is lifted after the trade deal, hence outflows via intervention, if any, would be minimal” Tripathi said.
Banking system liquidity stood at a surplus of ₹1.95 lakh crore on Wednesday.
