I entered no new positions, nor exited any existing ones.
By Tim Bovee, Portland, Oregon, Dec. 22, 2016
Author: Tim Bovee
Earns 12/26-12/30
No surprise, the week of Dec. 26 through Dec. 30 will be a painfully slow time for earnings, so slow as to best be described as non-existent.
Twelve companies publish earnings for action that week. The most liquid of the group trades 335,000 shares a day, on average; the least liquid, 293 shares.
None of the dozen is liquid enough to meet my options trading standards. I plan no earnings plays next week.
By Tim Bovee, Portland, Oregon, Dec. 22, 2016
Thursday’s Prospects
As the business of the markets slows with the approach of the winter holidays, I have no symbols qualifying as prospective trades on Thursday. I shall enter no new positions.
There will be no Agenda post for Thursday.
By Tim Bovee, Portland, Oregon, Dec. 21, 2016
Wednesday’s Outcomes
MU Analysis
Micron Technology Inc. (MU)
Update 1/10/2017: MU gapped sharply to the upside after earnings were published and never returned to the position’s profit zone.
Shares rose 9.5% over 20 days, or a +173% annual rate. The options position produced a 24.7% loss on debit for a -451% annual rate.
MU publishes earnings on Wednesday after the closing bell.
Wednesday’s Agenda
I’ve opened up space in my account by exiting TLT to accommodate an additional position. I’ll analyze today’s prospect, MU, as a potential earnings play and update the TLT analysis with results within an hour.
By Tim Bovee, Portland, Oregon, Dec. 21, 2016
Wednesday’s Prospects
I’m looking at one prospect for Wednesday, an earnings play on MU. One difficulty is that my funds are entirely committed, so I’ll be unable to enter any new positions unless I exit a position.
By Tim Bovee, Portland, Oregon, Dec. 20, 2016
Tuesday’s Outcomes
I entered a position on NKE timed to coincide with an earnings announcement.
By Tim Bovee, Portland, Oregon, Dec. 20, 2016
NKE Analysis
NIKE Inc. (NKE)
NKE publishes earnings on Tuesday after the closing bell.
Update 12/27/2016: NKE rose sharply after earnings were published and then worked its way back down toward the strike price and back into profitable territory, allowing me to exit today at 26.6% of maximum profit.
Shares declined by 2% over seven days, or a -48% annual rate. The options position produced a 25.2% yield on debit for a +1,312% annual rate.
Tuesday’s Agenda
The distributions of implied volatility across the options grids of four of the prospects I identified after the closing bell yesterday — FINL, FDX, ACN and PAYX — are a bit spotty, which leads me to a negative assessment of their liquidity.
NKE remains a prospect, and I shall post a full analysis later today.
By Tim Bovee, Portland, Oregon, Dec. 20, 2016
Tim Bovee, Private Trader 
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