Good morning!
Tons of earnings again today, highlighted by META after the close.
META’s expected move of around 8% is significantly less than the prior 3 actual moves. The last time the stock moved less than that on earnings was this quarter’s report last year.
There’s also a Fed meeting today! The 0DTE expected move in SPY today is about 0.7% which is not ‘high’ but it is a lot more than recent 0DTE expected moves which have been around 0.4%. So between the slate of earnings and the FOMC, options are pricing almost twice as much movement as they have been at these extremely low levels of IV. In fact, today’s SPY options are 14 IV, they’ve been as low as the single digits recently. After the FOMC, options reset a bit, with the expected move into Friday just 0.9% and next week’s options back to 11 IV.
Pre-Market Movers:
- Warrantee Inc ADR (WRNT) +25.58%
- Silicon Motion Techn ADR (SIMO) +82.91%
- Snap Inc (SNAP) -17.03%
- Microsoft Corp (MSFT) -3.33%
- Tower Semiconductor (TSEM) +11.36%
- Dish Network Corp (DISH) +9.72%
- Alphabet Cl C (GOOG) +6.12%
- Meta Platforms Inc (META) +2.37%
- Teladoc Health Inc (TDOC) +7.51%
Today’s Earnings Highlights:
- Meta Platforms, Inc. (META) Expected Move: 8.25%
- The Coca-Cola Company (KO) Expected Move: 1.69%
- Thermo Fisher Scientific Inc. (TMO) Expected Move: 4.07%
- Union Pacific Corporation (UNP) Expected Move: 6.31%
- The Boeing Company (BA) Expected Move: 4.03%
- ServiceNow, Inc. (NOW) Expected Move: 5.20%
- AT&T Inc. (T) Expected Move: 4.24%
- Automatic Data Processing, Inc. (ADP) Expected Move: 3.62%
- Equinor ASA (EQNR) Expected Move: 6.25%
- Chipotle Mexican Grill, Inc. (CMG) Expected Move: 5.20%
- eBay Inc. (EBAY) Expected Move: 4.49%
Full list here: Options AI Earnings Calendar
Economic Calendar:
- At 10:00 AM (EST) New Home Sales (Jun) Estimates: 0.725, Prior: 0.763
- At 10:00 AM (EST) New Home Sales MoM (Jun) Estimates: -4, Prior: 12.2
- At 02:00 PM (EST) Fed Interest Rate Decision Estimates: 5.5, Prior: 5.25
- At 05:30 PM (EST) Fed Press Conference Impact: High
Scanner Highlights:
- Overbought (RSI): UPST (78), COST (77), DE (76), JNJ (75), MS (74), JPM (74), ABNB (74)
- Oversold (RSI): APLS (11), SPOT (31), F (37), AXP (40), AAL (41)
- High IV: IDEX (+513%), TLRY (+123%), TMUS (+118%)
- Unusual Options Volume: SPOT (+1229%), MMM (+747%), SNAP (+712%), DKNG (+511%), PINS (+449%), AI (+419%), LUV (+394%), SNOW (+385%)
Full lists here: Options AI Free Tools.
That’s all for now. Have a great day!
The Options AI Team
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