Canadian Solar Inc. (CSIQ)
CSIQ publishes earnings on Monday before the opening bell.
I shall use options that trade for the last time 14 days hence, on Aug. 25.
Implied volatility stands at 67%, which is 4.3 times the VIX, a measure of the volatility of the S&P 500 index.
CSIQ’s IV stands in the 55th percentile of its annual range and at the peak of its most recent broad movement.
JD.com Inc. (JD)
Update 8/14/2017: JD’s earnings came short of meeting expectations: The consensus estimate was $0.11 per share; the actual was $0.10. Shares declined by $3 and then rose by $3.50, and then fell to tracing out an intra-day triangle. I exited for a profit at my target, at 24.9% of maximum potential profit, with shares at $44.75, and the options position cost a $2.80 debit to buy back.
Shares declined by a net 1.6% over my three-day holding period, or a -198% annual rate. The options position produced a 33.2% yield on debit for a +4,041% annual rate.
JD publishes earnings on Monday before the opening bell.
I shall use options that trade for the last time 14 days hence, on Aug. 25.
Implied volatility stands at 48%, which is 3.2 times the VIX, a measure of the volatility of the S&P 500 index.
JD’s IV stands in the 93rd percentile of its annual range and the 95th percentile of its most recent broad movement.
Nordstron Imc. (JWN)
JWN publishes earnings on Thursday after the closing bell.
I shall use options that trade for the last time eight days hence, on Aug. 18.
Implied volatility stands at 48%, which is 3.5 times the VIX, a measure of the volatility of the S&P 500 index.
JWN’s IV stands in the 72nd percentile of its annual range and at the peak of its most recent broad movement.
NVIDIA Corp. (NVDA)
NVDA publishes earnings on Thursday after the closing bell.
I shall use options that trade for the last time eight days hence, on Aug. 18.
Implied volatility stands at 60%, which is 4.2 times the VIX, a measure of the volatility of the S&P 500 index.
NVDA’s IV stands in the 98th percentile of its annual range and at the peak of its most recent broad movement.
Snap Inc. (SNAP)
Update 8/14/2017: SNAP’s results came in at a loss of $0.16 per share, lower than the $0.14% loss in the analysts’ consensus forecast. Shares immediately declined by about $2, traded as high $2.20, declined a again to its $2 loss and then on the second day rose to close to pre-earnings levels. I exited with shares at $12.
Shares showed a net declined of 11.2% over my four-day holding period, or a -1,026% annual rate. Tye options position produced a 2.4% loss on debit for a -223% annual rate.
Zacks Investment Research forecast a downside earnings surprise a 29% score, which in terms of direction and the market response is in line with what actually happened.
Had I exited on the first session after earnings were published, I would have paid a $3.62 debit. By waiting, I reduced the debit to $2.05, mitigating the loss. In this case, waiting proved to be the correct strategy.
SNAP publishes earnings on Thursday after the closing bell.
I shall use options that trade for the last time eight days hence, on Aug. 18.
Implied volatility stands at 94%, which is 6.4 times the VIX, a measure of the volatility of the S&P 500 index.
SNAP’s IV stands in the 97th percentile of both its range since trading began last March and its most recent broad movement.
Kohl’s Corp. (KSS)
Update 8/14/2017: KSS’s earnings came in at $1.24 per share, well below the $1.86 expected by the Street. Shares declined by by $4 the session after earnings were published and then immediately moved upward by $3.50 before slipping again to the downside. I exited about $1.20 above the low, at $38.71 per share.
Shares declined by 8.7% over my five-day holding period, or a -637% annual rate. The options position produced a -17.9% loss on debit for a -1,308% annual rate.
KSS had 2.82% score on the Zacks Investment Research earnings surprise predictor, providing before the fact evidence (perhaps) that the trade ought to have been passed.
I would have exited at a $3.35 debit had I done so the session after earnings were published. Continuing to hold added an additional 50 cents to the debit, and I exited at $3.85.
KSS publishes earnings on Thursday before the opening bell.
I shall use options that trade for the last time nine days hence, on Aug. 18.
Implied volatility stands at 48%, which is four times the VIX, a measure of the volatility of the S&P 500 index.
KSS’s IV stands in the 89th percentile of its annual range and at the peak of its most recent broad movement.
Macy’s Inc. (M)
Update 8/10/2017: M whipsawed up then down after earnings were published, recovering a portion of the decline. I exited the roller coaster ride at 29.5% of maximum potential profit.
Shares showed a net declined of -4.1% over my one-day holding period, or a -1,488% annual rate. The options position produced a +41.3% yield on debit for a +15,268% annual rate.
M publishes earnings on Thursday before the opening bell.
I shall use options that trade for the last time nine days hence, on Aug. 18.
Implied volatility stands at 57%, which is 4.7 times the VIX, a measure of the volatility of the S&P 500 index.
M’s IV stands in the peak of its annual range and its most recent broad movement.
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