Although I traditionally see earnings season as beginning with the first play in the alphabet (AA), there are some that occur before AA that I've frequently played. Next week, it's MON, BBBY, and WBA. MON announces earnings on 1/6 before market open (look to put on that play before Tuesday NY close); WBA, 1/7 before market open (put on Wednesday before market close); BBBY after market close on 1/7 (Thursday).
MON's implied volatility rank is currently 63, has an implied volatility of 31, and a short strangle appears to offer nearly 1.00 in credit ($100 per contract) for a 93/104 short strangle, Jan 15th expiry (currently .97 at the mid price).
BBBY (rank 49/implied 45) needs to have its implied pop a bit to make it 1.00+ attractive; I generally only like to play these when the implied volatility rank is high (70+) and it's implied is kind of right in the middle of its 52-week range right now.
WBA (rank 83/implied 41): the 78.5/91.5 Jan 15th short strangle is currently going for 1.05 at the mid price.
I looked at other earnings announcement plays for next week (CUDA, FINL, KBH, HELE, for example), but none of them look particularly attractive for an options strategy because liquidity is poor on the options end of things and/or the underlying doesn't offer weeklies.
MON's implied volatility rank is currently 63, has an implied volatility of 31, and a short strangle appears to offer nearly 1.00 in credit ($100 per contract) for a 93/104 short strangle, Jan 15th expiry (currently .97 at the mid price).
BBBY (rank 49/implied 45) needs to have its implied pop a bit to make it 1.00+ attractive; I generally only like to play these when the implied volatility rank is high (70+) and it's implied is kind of right in the middle of its 52-week range right now.
WBA (rank 83/implied 41): the 78.5/91.5 Jan 15th short strangle is currently going for 1.05 at the mid price.
I looked at other earnings announcement plays for next week (CUDA, FINL, KBH, HELE, for example), but none of them look particularly attractive for an options strategy because liquidity is poor on the options end of things and/or the underlying doesn't offer weeklies.