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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JinkoSolar Co. Ltd. (JKS)

Update 6/7/2017; JKS fell sharply in the week prior to earnings and then began to rise in the few days after the announcement. I exited at 39.5% of maximum potential profit.

Shares showed a net decline of 3.2% over the five days I held the position, or a -232% annual rate. The options position produced a +62.7% yield on debit for a +4,578% annual rate.

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JKS publishes earnings on Monday before the opening bell.

I shall use options that trade for the last time 14 days hence, on June 16.

Implied volatility stands at 57%, which is 5.8 times the VIX, a measure of the volatility of the S&P 500 index.

JKS’s IV stands in the 39th percentile of its annual range and the 90th percentile of its most recent broad movement.

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6/2 – 3:30 p.m. New York time

I entered one new position, an earnings play on JKS, and exited seven positions:  AAPL, AVGO, CIEN, DG, EWZ, KORS and PANW. The EWZ exit wraps up a series, and I calculated results for the series s a whole.

I decided not to exit my one remaining position expiring next week, LULU.  It is within reach of profitability if it continues to fall, so the trend matches my preferred outcome. I intent to exit the position on Monday.

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Lululemon Athletica Inc. (LULU)

Update 6/5/2017: LULU  gapped sharply higher after earnings wee published and then retraced a small portion of the gain, not enough to make the position profitable but sufficient to greatly mitigate the loss. I exited with four days to go before expiration.

Shares produced a net rise of 10.4% over the four-day lifespan of the position, or a +951% annual rate. The options position produced a 3.4% loss on debit for a -313% annual rate.

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LULU publishes earnings on Thursday after the closing bell.

I shall use options that trade for the last time eight days hence, on June 9.

Implied volatility stands at 63%, which is 5.2 times the VIX, a measure of the volatility of the S&P 500 index.

LULU’s IV stands in the 87th percentile of both its annual range and its most recent broad movement.

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Broadcom Ltd. (AVGO)

Update 6/2/2017: AVGO gapped sharply to the upside and remained high. With expiration only a week away, I judged that there was little chance of the position improving and I took the loss.

Shares rose by 4.8% over one day, or a +1,764% annual rate. The options position produced a -2.3% loss on debit for a -854% annual rate.

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AVGO publishes earnings on Thursday after the closing bell.

I shall use options that trade for the last time eight days hence, on June 9.

Implied volatility stands at 33%, which is 3.3 times the VIX, a measure of the volatility of the S&P 500 index.

AVGO’s IV stands in the 64th percentile of its annual range and the 97th percentile of its most recent broad movement.

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6/1 – 3:25 p.m. New York time

I entered two new positions, AVGO and LULU, and exited one position, AAP. I have an exit order in on AAPL that has not been filled.

6/1 – 10:15 a.m. New York time

I shall be analyzing two symbols as prospective trades: AVGO and LULU.

I have exited AAP and shall update the analysis shortly.

By Tim Bovee, Portland, Oregon, June 1, 2017

Palo Alto Networks Inc. (PANW)

Update 6/2/2017: PANW gapped sharply higher after earnings were published, putting it beyond reach of profitability in the week before options expiration. I took the loss.

Shares rose by 16.6% over two days, or a +3,029% annual rate. Tye options position produced a -40.3% loss on debit for a -7,354% annual rate.

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PANW publishes earnings on Wednesday after the closing bell.

I shall use options that trade for the last time nine days hence, on June 9.

Implied volatility stands at 48%, which is 4.3 times the VIX, a measure of the volatility of the S&P 500 index.

PANW’s IV stands in the 84th percentile of its annual range and the 78th percentile of its most recent broad movement.

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Hewlett Packard Enterprise Co.  (HPE)

HPE publishes earnings on Wednesday after the closing bell.

I shall use options that trade for the last time nine days hence, on June 9.

Implied volatility stands at 31%, which is 2.8 times the VIX, a measure of the volatility of the S&P 500 index.

HPE’s IV stands in the 17th percentile of its annual range and the 98th percentile of its most recent broad movement. A series of large volatility spikes in late March and early April brought the annual range percentile down.

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