How Options Investors Should Play This Earnings Season

Barrons2021-10-14

At the start of the third-quarter earnings season, let it be said that investors are nervous, analysts are generally worried about earnings growth, and the options market is a cauldron of coiled ...

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精彩评论

NatYong
2021-10-14
NatYong
The economy is beset by inflationary pressures.
Hk01
2021-10-14
Hk01
Nice
peng321
2021-10-14
peng321
SBUX one month Call looks cheap .... if earning can pump up the volatility, upside potential looks bright
koolgal
2021-10-14
koolgal
Interesting way to make extra cash by using Buying Call. 🤔
- 458b6d98:
  No
- Snailmail:
  [Observation]
- rhktrade:
  wow
- peng321:
  pay before you play
- KoYu:
  Yeah
Kel9670ong
2021-10-14
Kel9670ong
A good read
- AndrewL:
  Ok
iChinook
2021-10-14
iChinook
In tqknkm jMy Kwee last night o n to Nw the last mon Pxo f the PYes pYes Mom’sMOn OA 🚤 Thanks I’m SIO 🪶🛸🚔🚔🚄🚀🏂🤿🎱

发表看法

120

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Expectations that the Federal Reserve may soon raise interest rates, for a variety of reasons.\nThe economy is beset by inflationary pressures. Supply chains are struggling to keep pace with consumer and corporate demand for everything from semiconductors to toilet paper. Economic growth, which ultimately drives corporate earnings, appears to be slowing, and that generally portends poorly for stock prices. The drama in Washington over raising the debt ceiling, and dueling legislative agendas, adds a circus-like air to the market.\nWhat is less discussed is that the rules of the game are changing. When the Fed finally raises interest rates, most investors will have to learn some new tricks.\nAfter 20 years of easy-money policies, investors have come to rely on the mighty “Fed put”—the belief that the Fed will do whatever it takes to keep the stock market from falling too far. Now, it seems the Fed put might expire after this earnings season, and making money in the stock and options markets may no longer be so easy.\nThe good news? There are ways to monetize these unusual conditions during an event-heavy calendar.\nThere are many crosscurrents moving above and below the market’s surface. The S&P 500 index is dancing around historic highs. Yet earnings estimates for the third quarter show little expectation that corporate earnings reports will prove to be much of anything—and this could create some opportunities for aggressive investors.\nJohn Marshall,Goldman Sachs’ derivatives strategist, recently advised clients that analyst estimates for the third quarter have been revised upward by 12% over the past three months but still remain 2% below the second-quarter’s level (not including the financial sector).\nMeanwhile, single-stock skew—the difference between bearish put-option and bullish call-option implied volatility—is at the highest level in over a year.\nThe elevated skew suggests that investors have bought bearish puts to hedge earnings reports, thus creating conditions that could spark relief rallies in certain stocks on earnings day, and even in broad indexes, Marshall told clients. Investors are so pessimistic about corporate earnings—and have positioned that way in the options market—that any bit of good news could prompt strong moves in individual stocks.\nTo trade these conditions, Marshall has assembled a list of stocks in which Goldman analysts are the most out of consensus with the Street view. On stocks that have the potential to beat earnings estimates, he has suggested that clients consider buying calls that expire in one month, with strike prices just above the current stock price.\nGoldman’s trading menu for stocks with potential upside to earnings estimates includes Starbucks (ticker: SBUX),Canadian Natural Resources (CNQ), YETI Holdings (YETI),Cenovus Energy (CVE), Carlyle Group (CG),Signature Bank (SBNY),Align Technology (ALGN),Maravai LifeSciences Holdings (MRVI),Fortune Brands Home & Security (FBHS),Shoals Technologies Group (SHLS),CF Industries (CF),Okta (OKTA),Playtika Holding (PLTK), and Republic Services (RSG).\nAt a time when so many investors are confused about what to do, Goldman’s approach shows how a sophisticated strategist is thinking when change is in the air and investors are nervous about what comes next.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":825860517,"gmtCreate":1634217818761,"gmtModify":1634217818985,"author":{"id":"3580207321438450","authorId":"3580207321438450","name":"NatYong","avatar":"https://static.tigerbbs.com/62b1fa39b2974271d1c06e208f7b3571","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"The economy is beset by inflationary pressures.&nbsp;","listText":"The economy is beset by inflationary pressures.&nbsp;","text":"The economy is beset by inflationary pressures.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/825860517","repostId":1161146997,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":825886374,"gmtCreate":1634217404613,"gmtModify":1634217404613,"author":{"id":"4092737844653660","authorId":"4092737844653660","name":"Hk01","avatar":"https://static.tigerbbs.com/47f73b69bc4bb694a9b2dedd17efba98","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/825886374","repostId":1161146997,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":825816809,"gmtCreate":1634216569931,"gmtModify":1634216607695,"author":{"id":"4087387556186030","authorId":"4087387556186030","name":"peng321","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"SBUX one month Call looks cheap .... if earning can pump up the volatility,&nbsp; upside potential looks bright&nbsp;","listText":"SBUX one month Call looks cheap .... if earning can pump up the volatility,&nbsp; upside potential looks bright&nbsp;","text":"SBUX one month Call looks cheap .... if earning can pump up the volatility, upside potential looks bright","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/825816809","repostId":1161146997,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":825148218,"gmtCreate":1634213263165,"gmtModify":1634272225567,"author":{"id":"3559581955535845","authorId":"3559581955535845","name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","vip":2,"crmLevel":6,"crmLevelSwitch":0},"htmlText":"Interesting way to make extra cash by using Buying Call.&nbsp; 🤔","listText":"Interesting way to make extra cash by using Buying Call.&nbsp; 🤔","text":"Interesting way to make extra cash by using Buying Call. 🤔","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":23,"commentSize":12,"repostSize":0,"link":"https://laohu8.com/post/825148218","repostId":1161146997,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6197222,"gmtCreate":1634216325822,"gmtModify":1634635911100,"authorId":3556756933727652,"author":{"id":3556756933727652,"authorId":3556756933727652,"name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":825148218,"type":1,"supId":0,"prevId":0,"content":"<u>No</u>","text":"<u>No</u>","html":"<u>No</u>"},{"id":6197223,"gmtCreate":1634216336669,"gmtModify":1634635910990,"authorId":3569366216400635,"author":{"id":3569366216400635,"authorId":3569366216400635,"name":"Snailmail","avatar":"https://static.tigerbbs.com/8702bbd94e7b9736bb078956e2e6440f","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":825148218,"type":1,"supId":0,"prevId":0,"content":"[Observation]","text":"[Observation]","html":"[Observation]"},{"id":6197258,"gmtCreate":1634216561365,"gmtModify":1634635909241,"authorId":3578967318304773,"author":{"id":3578967318304773,"authorId":3578967318304773,"name":"rhktrade","avatar":"https://static.tigerbbs.com/a27663c2a4d6be73c97c21238bc038fc","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":825148218,"type":1,"supId":0,"prevId":0,"content":"<u>wow</u>","text":"<u>wow</u>","html":"<u>wow</u>"},{"id":6197341,"gmtCreate":1634217051436,"gmtModify":1634635903995,"authorId":4087387556186030,"author":{"id":4087387556186030,"authorId":4087387556186030,"name":"peng321","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":825148218,"type":1,"supId":0,"prevId":0,"content":"pay before you play","text":"pay before you play","html":"pay before you play"},{"id":6198766,"gmtCreate":1634222765433,"gmtModify":1634635804926,"authorId":4087897820136310,"author":{"id":4087897820136310,"authorId":4087897820136310,"name":"KoYu","avatar":"https://static.tigerbbs.com/715c833bbcc81bc178f7ef0bc997acb2","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":825148218,"type":1,"supId":0,"prevId":0,"content":"Yeah","text":"Yeah","html":"Yeah"}],"langContent":"CN"},{"id":825169610,"gmtCreate":1634210163456,"gmtModify":1634210163733,"author":{"id":"3578468158955348","authorId":"3578468158955348","name":"Kel9670ong","avatar":"https://static.tigerbbs.com/bd86c42e207fbd94e7f8877a29457d71","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"A good read","listText":"A good read","text":"A good 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