THE WEEK AHEAD: CRM, ANF, HPQ EARNINGS; XOP, NFLX, FCX, EEM
EARNINGS WITH A RANK >70/IMPLIED >50:
CRM (81/52): Announces on Tuesday after market close. The pictured defined risk setup pays a greater than a one-third of the wing width 1.89 with break evens between the expected and one standard deevy.
ANF (68/86): Announces Thursday before market open. The Dec 21st 16 short straddle was paying 3.04 as of Friday close; the 25 delta 14/19 short strangle, 1.19.
HPQ (85/41): Announces Thursday after market close. The Dec 21st 22/23 skinny short strangle is paying 1.45, which makes for a near nominal trade at 25% max (.36 profit). Look for background implied to ramp up to 50 plus; otherwise, pass on a play.
EXCHANGE-TRADED FUNDS WITH A RANK >50/IMPLIED >35:
USO (100/66): I tend to use this more as of oil volatility indicator than anything (although you can naturally look at that more directly with OVX). Here, it's saying "Sell premium in petro underlyings," which for me means XOP, XLE, or OIH.
UNG (96/104): With UNG, I'm waiting for a seasonality short, but think putting on something in December is likely to be too early. January, however, is coming into range (currently 54 DTE).
XOP (85/45): A smidge early to go out to January, but the 29/36 is paying a 1.52 in that expiry; the 32/33 "skinny," 3.58.
SINGLE NAME WITH A RANK OF >70/IMPLIED >50/EARNINGS IN REAR VIEW:
NFLX (78/59): It's still got juice ... . The Jan 18th 25-delta 220/225/300/305 iron condor's paying 2.13 at the mid (but the platform's showing wide markets, so that may not be as hot at NY open).
FCX (71/55): The Jan 18th 11 short straddle is paying 1.73.
BROAD MARKET:
EEM (71/27)
QQQ (66/28)
IWM (62/24)
SPY (39/21)
EFA (13/20)
CRM (81/52): Announces on Tuesday after market close. The pictured defined risk setup pays a greater than a one-third of the wing width 1.89 with break evens between the expected and one standard deevy.
ANF (68/86): Announces Thursday before market open. The Dec 21st 16 short straddle was paying 3.04 as of Friday close; the 25 delta 14/19 short strangle, 1.19.
HPQ (85/41): Announces Thursday after market close. The Dec 21st 22/23 skinny short strangle is paying 1.45, which makes for a near nominal trade at 25% max (.36 profit). Look for background implied to ramp up to 50 plus; otherwise, pass on a play.
EXCHANGE-TRADED FUNDS WITH A RANK >50/IMPLIED >35:
USO (100/66): I tend to use this more as of oil volatility indicator than anything (although you can naturally look at that more directly with OVX). Here, it's saying "Sell premium in petro underlyings," which for me means XOP, XLE, or OIH.
UNG (96/104): With UNG, I'm waiting for a seasonality short, but think putting on something in December is likely to be too early. January, however, is coming into range (currently 54 DTE).
XOP (85/45): A smidge early to go out to January, but the 29/36 is paying a 1.52 in that expiry; the 32/33 "skinny," 3.58.
SINGLE NAME WITH A RANK OF >70/IMPLIED >50/EARNINGS IN REAR VIEW:
NFLX (78/59): It's still got juice ... . The Jan 18th 25-delta 220/225/300/305 iron condor's paying 2.13 at the mid (but the platform's showing wide markets, so that may not be as hot at NY open).
FCX (71/55): The Jan 18th 11 short straddle is paying 1.73.
BROAD MARKET:
EEM (71/27)
QQQ (66/28)
IWM (62/24)
SPY (39/21)
EFA (13/20)
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