Out of 30 companies publishing earnings for action next week, Dec. 19 through Dec. 23, 14 have stocks with sufficient liquidity to qualify for further consideration and possibly a trade.

Here is a list:

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I entered earnings plays on ADBE and ORCL. The positions brought me close to fully engaged in the market, so the third prospect — JBL — went begging as the least liquid of the batch.

I exited my position on EWZ just before expiration.

 

Oracle Corp. (ORCL)

ORCL publishes earnings on Thursday after the closing bell.

Update 12/16/2016: ORCL gapped down sharply after exceeding earnings expectations (Go figure!), and I exited for a profit at about my normal goal for the iron fly structure; At 25% of maximum possible profit.

Shares declined by 3.96%over less than a day, for a -1,445% annual rate. The options position produced a 33.4% yield on debit for a +12,204% annual rate

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Adobe Systems Inc. (ADBE)

ADBE publishes earnings on Thursday after the closing bell.

Update 12/19/2016: Implied volatility dropped sharply after earnings were published while the stock price remain little changed from the entry price.

Under my rules I manage iron fly positions at 25% or better of the maximum potential profit. I exited at 26%.

Shares rose by by a penny over four days, or a 0.9% annual rate. The options position produced a 35.7% yield on debit for a +3,260% annual rate.

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I’ll be looking at three potential earnings plays today: ADBE, JBL and ORCL.

By Tim Bovee, Portland, Oregon, Dec. 15, 2016

After the Wednesday, Dec. 14 trading session, i have three prospects to consider. I shall make final decision on Thursday, Dec. 15.

All three prospects are earnings plays: ADBE, JBL and ORCL.

By Tim Bovee, Portland, Oregon, Dec. 14, 2016

I entered an options play on CSX and analyzed but rejected a volatility play on EBAY.

By Tim Bovee, Portland, Oregon, Dec. 14, 2016

eBay Inc. (EBAY)

I am looking at EBAY as a potential volatility play.

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CSX Corp. (CSX)

Update 1/11/2017: CSX remained within its profit zone until nine days before expiration, when it broke above of its =trading narrow range and came very close to becoming unprofitable. I chose to eliminate the risk by exiting at 6.6% of maximum potential profit.

Shares rose by 3.8% over 28 days, or a +49% annual rate. The options position produced a 7.0% yield on debit for a +92% annual rate.

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I’m looking at CSX as a potential volatility play.

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Post FOMC announcement, I shall be looking at two prospects as volatility plays: CSX and EBAY.