Pictured here is the only earnings announcement-related volatility contraction play with the metrics I'm looking for: greater than 70% rank and greater than 50% 30-day (it was 68/55 as of Friday close). Setup Metrics: 3.40 credit, break evens at 20.60/27.40, -8.20 delta, 3.1 theta. Obvious alternatives would be the April 18th 21/27 short strangle paying 1.21...
Macy's tumbles 14.8 per cent in pre market session
Macy’s on Wednesday reported quarterly earnings that topped analysts’ expectations, saying strong digital sales boosted results, while the retailer continues to make investments to improve its stores. The department store chain also raised its earnings outlook for the full year, expecting a strong holiday quarter. Its shares were up as much as 4.5 percent in...
Technical indicators keep flagging the stock market's underlying weaknesses. Still, the latest shallow selling is a bit over-stretched. "A Still Shaky But Now Stretched Stock Market" drduru.com $SPY $QQQ #VIX #AT40 #T2108 $BA $BIDU $CAT $GLD $SLV $DXY $USDTRY #forex $M $NFLX $RIO $BHP $USO $WHR
This is all what Macy did this year... V forming. Now what?
The only volatility contraction earnings play I'm looking at for this coming week is in Macy's, which announces earnings on Wednesday before market open, since it has the implied volatility rank and 30-day metrics I'm looking for (76/56). Here are some Macy's preliminary setups, with the short strangles set up around the 20 delta strikes: August 17th 36/44 short...
Waiting on Earnings (08/15), has been an awesome Dividend play if you picked it up lower down.
M is overheated on daily with a 70 RSI - may accumulate in these zones here
M on daily appears to be overextended based on high RSI (70.5) however we recently have seen it as high as 79 - weekly actually paints a strong bullish picture so possibly light retracement or just accumulation - will post follow up weekly chart
I would be a very tough buyer on Macy's, but around 24.07, not before nor after. Have a Good Trading Week, Learn how to beat the market as Professional Trader with an ex-insider! Cream Live Trading, Best Regards!
EARNINGS ANNOUNCEMENT/VOL CONTRACTION PLAYS: M announces earnings on 2/27 before market open. Preliminarily, the March 24/30 short strangle is paying .84 at the mid, which isn't very juicy. Given the size of the underlying, it may be more amenable to a short straddle or iron fly, with the March 9th 27 short straddle paying 2.95 and the 23/27/27/31 iron fly...
Forgot to post this yesterday, but we have been in this trade since Friday with some puts trying to ride this market during this large pullback. I am still going to post this because even with this bounce today I still think it has more room to fall. Last week there was a huge turning point in momentum and the selling volume started to pick up. With the signs of...
SEAS announces earnings on 11/7 before market open, with an implied volatility of 71%, which is at the upper end of its range over the previous 52 week period. The November 17th 11 short straddle is paying 1.37 at the mid with a comparable iron fly probably not paying enough to make it worthwhile (less than 1/4 the width of the longs). CTL (implied volatility of...