TD Ameritrade Chief Strategist Sees Surprising Volatility In JC Penney

Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan said that volatility for J C Penney Company Inc JCP was, based on historical volatility, at its first percentile.

"[It's] opposite of what people would expect" because people think of JC Penney as volatile stock, but "from a historical view its not at all," according to Kinahan.

What was interesting to Kinahan was that even "with this low historical volatility, [the market was] still expecting about an...8.5 percent move (up or down)" at its earnings announcement based on implied volatility in the options market.

Heading into its earnings release, JC Penney traded at $9.10, up 1.22 percent.

Kevin Riley and Brianna Valleskey contributed to this report.