IBM is getting knocked 7.6% in the pre-mkt after posting disappointing earnings this AM. The stock closed Friday at 182 and is now trading down at 167.60. It held some pre-mkt support around 172, 170 and 166.50. Its last 7 post earnings absolute value moves have been (from recent to earliest) 1%,, 1.8%, 1.2%, 1.3%, 3.0%, 2.5%. Its average close to close gap move is 4.86% and its largest downside move was 8.28%. Depending where IV comes in at, it could be a good long vol candidate. That 170 level is key two year support.
Friday Recap:
SLCA was ripping on Friday and around 10:36am heard chatter of a possibly secondary offering. The stock was trading around 49.70 and dropped to 49.40 before bouncing up to 50, only to sell off to 47.50 by 1pm.
MNK was ripping higher about 5% on Friday and around 1115 saw action in the 85 opex puts with 2250 trading for around .20 while the stock was at 87.30. It looked like the entry was gamed a bit with small lots coming in to drop the bid ask down then the decent size buys. The stock ended up hitting a low of 85.30 at 2pm, but the puts expired worthless on the day.
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