General Motors Co. (GM)

Update 10/24/2017: GM’s earnings came in at $1.32 per share,  beating the Street consensus of $1.19. The share price rose by about $2 from the close in overnight trading and retraced about half of the rise by the opening bell.

Zacks had given GM an earnings surprise prediction score of 3.14. The $1.42 price movement during the life of my position exceeded both the average and the central tendency of the past four post-earns moves.

Shares rose by 3.1% over my one-day holding period, or a +1,144% annual rate. The options position produced a +96.2% return for a +35,096% annual rate.

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GM publishes earnings on Tuesday before the opening bell.

I shall use options that trade for the last time 25 days hence, on Nov. 17.

Implied volatility stands at 25%, which is 2.4 times the VIX, a measure of the volatility of the S&P 500 index.

GM’s IV stands in the 52nd percentile of its annual range and the 82nd percentile of its most recent broad movement.

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8/23 – 3:20 p.m. New York time

I entered two positions today, earnings plays on GM and WHR. I have attempted a long-shot exit/roll on TLT at my target, so far without success.

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The first look at gross domestic product for the 3rd quarter will be published on Friday at 8:30 a.m. New York time. This release, the advance estimate, will be followed by two additional revisions.

Appetite for big-ticket items will be quantified on Wednesday with the release of the durable goods orders report, and the report on international trade in goods will be out on Thursday, each at 8:30 a.m.

Also impacting the week: New home sales on Wednesday at 10 a.m. and the Purchasing Managers Institute composite flash release on Tuesday at 9:45 a.m.
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Halliburton Co. (HAL)

HAL publishes earnings on Monday before the opening bell.

I shall use options that trade for the last time 14 days hence, on Nov, 3.

Implied volatility stands at 26%, which is !0 times the VIX, a measure of the volatility of the S&P 500 index.

HAL’s IV stands in the 2tth percentile of its annual range and the 72nd percentile of its most recent broad movement.

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10/20 – 3:10 p.m. New York time

I analyzed HAL, passing on the trade. I am attempting an exit/roll of TLT and have an order in place at my target, but it appears unlikely to be filled today. I shall update if I get a fill.

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10/19 – 2:50 p.m. New York time

I have declined all potential trades without subjecting them to full analysis.

ATHN and ETFC have overly wide bid/ask spreads. HON and KSU have wide intervals on their options grids that put the at-the-money points over far from the nearest strike prices.

I exited DAL for a profit.

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Verizon Communications Inc. (VZ)

VZ publishes earnings on Thursday before the opening bell.

I shall use options that trade for the last time nine days hence, on Oct. 27.

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

VZ’s IV stands in the 57th percentile of its annual range and the 34th percentile of its most recent broad movement.

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American Express Co. (AXP)

AXP publishes earnings on Wednesday after the closing bell.

I shall use options that trade for the last time nine days hence, on Oct. 27.

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

AXP’s IV stands in the 40th percentile of its annual range and the 75th percentile of its most recent broad movement.

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10/18 – 3:10 p.m. New York time

I analyzed two symbols as potential new positions but rejected both: AXP and VZ. I exited IBM and JNJ, each for a loss.

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Lam Research Corp. (LRCX)

LRCX publishes earnings on Tuesday after the closing bell.

I shall use options that trade for the last time 10 days hence, on Oct. 27.

Implied volatility stands at 34%, which is 3.3 times the VIX, a measure of the volatility of the S&P 500 index.

LRCX’s IV stands in the 90th percentile of its annual range and the 95th percentile of its most recent broad movement.

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