THIS WEEK'S OPTIONS WORTHY EARNINGS PLAYS -- DIS, BIDU, TSLA
Unfortunately, I was fiddling around so much with setups in index ETF's and GLD last week that I didn't get a chance to do a single earnings play ... But it's all good.
Naturally, if volatility remains high in SPY, DIA, QQQ, and/or IWM, I'll continue to work those. However, while I'm waiting for some kind of bounce to occur to leg into the short call side of those on strength, maybe I'll be able to fit one of these plays in just to keep myself entertained.
CVS -- announces on 2/9 (Tuesday) before market open. Implied volatility rank: 83/implied volatility 31. I'll have to look at that one closer to earnings. The implied vol number suggests that while volatility is temporarily high, it's just not one of those underlyings that are very volatile generally speaking.
DIS -- announces on 2/9 (Tuesday) after market. Its implied volatility rank isn't quite where I'd like it (63; >70 is better), but you never know what'll happen going into the last couple of days here.
BIDU -- announces "some time" on 2/10, which could be before/after market (you'd think they'd know at this point ... ). High implied volatility rank (83) plus high volatility (58) equals good premium. I would probably just look to put on a play on Tuesday if the premium looks attractive (it does right now; even for an iron condor setup).
WYNN -- announces "some time" on 2/10. Rank: 95/implied 80. This little guy is not for the faint of heart. I've been in and out of WYNN several times this year as a non-earnings premium selling play and it whips all over the place, with a Daily 14-Period ATR of between 3 and 4 bucks ... .
TSLA -- announces on 2/10 after market close. What's not to like about a TSLA play? Implied volatility rank is at 100 and the implied volatility is 82. Beaucoup premium ... .
There are naturally a bunch of others announcing earnings, it's just that they're not necessarily good premium selling plays due to their implied volatility, so they'll probably just have to be played some other way ... .
Naturally, if volatility remains high in SPY, DIA, QQQ, and/or IWM, I'll continue to work those. However, while I'm waiting for some kind of bounce to occur to leg into the short call side of those on strength, maybe I'll be able to fit one of these plays in just to keep myself entertained.
CVS -- announces on 2/9 (Tuesday) before market open. Implied volatility rank: 83/implied volatility 31. I'll have to look at that one closer to earnings. The implied vol number suggests that while volatility is temporarily high, it's just not one of those underlyings that are very volatile generally speaking.
DIS -- announces on 2/9 (Tuesday) after market. Its implied volatility rank isn't quite where I'd like it (63; >70 is better), but you never know what'll happen going into the last couple of days here.
BIDU -- announces "some time" on 2/10, which could be before/after market (you'd think they'd know at this point ... ). High implied volatility rank (83) plus high volatility (58) equals good premium. I would probably just look to put on a play on Tuesday if the premium looks attractive (it does right now; even for an iron condor setup).
WYNN -- announces "some time" on 2/10. Rank: 95/implied 80. This little guy is not for the faint of heart. I've been in and out of WYNN several times this year as a non-earnings premium selling play and it whips all over the place, with a Daily 14-Period ATR of between 3 and 4 bucks ... .
TSLA -- announces on 2/10 after market close. What's not to like about a TSLA play? Implied volatility rank is at 100 and the implied volatility is 82. Beaucoup premium ... .
There are naturally a bunch of others announcing earnings, it's just that they're not necessarily good premium selling plays due to their implied volatility, so they'll probably just have to be played some other way ... .