Microsoft Corp. (MSFT)

Update 6/12/2017: MSFT, along with other tech stocks, began to decline at entry on June 7, and I exited for a loss on the fourth day of decline as expiration approached.

Shares fell by 4.1% over five days, or a -299% annual rate. The options position produced a -40.9% loss on debit for a -2,986% annual rate.

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MSFT has sufficiently high implied volatility and liquidity to qualify as a trade.

I shall use options that trade for the last time nine days hence, on June 16.

Implied volatility stands at 20%, which is 1.9 times the VIX, a measure of the volatility of the S&P 500 index.

MSFT’s IV stands in the 54th percentile of its annual range and the 72nd percentile of its most recent broad movement.

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SJM Smucker Co. (SJM)

Update 6/8/2017: SJM gapped sharply higher after earnings were published and then fell below its pre-earnings close I exited on the the way down slightly above my entry price, at 36% of maximum potential profit.

Shares showed a net increase of 0.6% from my entry to exit the next day, or a 210% annual rate. The options position produced a 56.4% yield on debit for a +20,566% annual rate.

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SJM publishes earnings on Thursday before the opening bell.

I shall use options that trade for the last time nine days hence, on June 16.

Implied volatility stands at 24%, which is  2.3 times the VIX, a measure of the volatility of the S&P 500 index.

SJM’s IV stands in the  59th percentile of its annual range and in the 96th percentile of its most recent broad movement.

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6/7 – 3:15 p.m. New York time

I entered two new position today, an earnings play on SJM and a volatility play on MSFT, and exited two, JKS and PLAY.

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Dave & Buster’s Entertainment Inc. (PLAY)

Update 6/7/2017: PLAY rose after earnings were published. However, my exit order went through one minute after the opening bell, and the price was up only one cent from its level when I entered. It subsequently rose by several dollars. Implied volatility declined sharply, and the exit was at 35.9% of maximum potential profit.

The annual rate of the one cent change in the share price works out to a 0.05% annual rate of change. The options position produced a 56.1% yield on debit for a +20,468% annual rate.

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PLAY publishes earnings on Tuesday after the closing bell.

I shall use options that trade for the last time 10 days hence, on June 16.

Implied volatility stands at 48%, which is 4.6 times the VIX, a measure of the volatility of the S&P 500 index.

PLAY’s IV stands in the 63rd percentile of its annual range and at the peak of its most recent broad movement.

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Ambarella Inc. (AMBA)

Update 6/9/2017; AMBA gapped to the downside after earnings were published and declined only slightly more over the next two days, when I exited for a loss.

Shares declined by 12.5% over the three days, or a -1,523% annual rate. Tye options position produced a 35.4% loss on debit for a -4,306% annual rate.

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AMBA publishes earnings on Tuesday after the closing bell.

I shall use options that trade for the last time 10 days hence, on June 16.

Implied volatility stands at 51%, which is 4.9 times the VIX, a measure of the volatility of the S&P 500 index.

AMBA’s IV stands in the 65th percentile of its annual range and the 96th percentile of its most recent broad movement.

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6/6 – 3:05 p.m. New York time

I entered positions on AMBA and PLAY, and exited positions on CSIQ and PVH.

I placed an order on JKS, but it has not yet been filled.

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Canadian Solar Inc. (CSIQ)

Update 6/6/2017: CSIQ opened low after earnings were published and then rose back to near the prior day’s close, with falling volatility allowing me to exit near my target, at 24.8% of maximum potential profit.

Shares showed a net rise during the day I held the position of 0.1%, or a +43% annual rate. The options position produced a +33.0% yield on debit for a +12,028% annual rate.

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CSIQ publishes earnings on Tuesday before the opening bell.

I shall use options that trade for the last time 11 days hence, on June 16.

Implied volatility stands at 59%, which is six times the VIX, a measure of the volatility of the S&P 500 index.

CSIQ’s IV stands in the 26th percentile of its annual range and the 77th percentile of its most recent broad movement.

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Thor Industries Inc. (THO)

Update 6/13/2017: Shares gapped up by more than $12 after earnings were published, fell slightly and then rose again. After unsuccessfully trying to exit for a profit for three days I exited for a loss.

Shares showed a net rise of 11.3% over eight days, or a +517% annual rate. The options position produced a 29.8% loss on debit for a -1,362% annual rate.

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THO publishes earnings on Monday after the closing bell.

I shall use options that trade for the last time 11 days hence, on June 16.

Implied volatility stands at 50%, which is 5.1 times the VIX, a measure of the volatility of the S&P 500 index.

THO’s IV stands in the 97th percentile of its annual range and the 81st percentile of its most recent broad movement.

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6/5 – 3:20 p.m. New York time

I entered two positions today — CSIQ and THO — and exited two —BOX and LULU. I have placed an exit order on JKS that has yet to be filled.

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As is usually the case after the employment situation numbers are published, the ship of economic stats  has drifted into the doldrums, with nary a single significant report in sight. The closest to one is one of the monthly leading indictors, factory orders, out Monday at 10 a.m.

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