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Tax tips, options trading ideas, and market takes — updated regularly.
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Cloudflare's stock jumped well past what pre-earnings options pricing had signaled. Rather than proof that the market got it wrong, it's a clean, real example of what an "implied move" actually is — and isn't.
Apple reports its last earnings under CEO Tim Cook on July 30. Options pricing points to a 3.5% move — but Apple has blown past its implied move in five of its last eight reports. Here's how that number gets built, and where it breaks.
Taiwan Semiconductor reports Thursday, right in the middle of a rough week for chip stocks. Before you look at the headline number options traders are pricing in, here's what "implied move" actually means — and why it isn't a prediction.
Delta Air Lines reports Friday morning, and options traders have already placed their bet — not on whether the quarter is good, but on how far the stock will swing either way. Here's how that "implied move" gets priced, and why it can trip up traders who get the direction right.