First a recap of this week. Implied volatility fell hard across the broader market following the election results and the positive vaccine news from Pfizer (PFE). The VIX is now 23, down from the high 30’s the week before.
The expected move in SPY for the next week is now just 1.7%, that is down from 3%+ weekly move expected into the election (via Options AI):
QQQ for next week, 2.4%:
Earnings season starts to wind down but a few notable/actively traded stocks are set to report, below are the expected moves for next week and their prior 3 actual earnings moves:
Monday 4:30pm / BIDU 6.1%
Wednesday 4:20pm / NVDA 6.5%
Thursday 4:00pm / WDAY 6.8%
We’ll follow up with some more looks on some of the other names set to report like NIO, Target, Home Depot and Walmart