TD Ameritrade Chief Strategist JJ Kinahan On Stapled Ahead Of Earnings

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Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan said that Staples, Inc.
SPLS
, ahead of its earnings report on Friday, was up nearly 30 percent since its last earnings release. From a historical volatility perspective, the stock was at the 93rd percentile, and the market expected a move of over 4.5 percent in the stock (up or down), Kinahan noted, based on implied volatility in the options market. Since the news of the acquisition of Office Depot Inc
ODP
, options trading on the stock had "slowed down significantly," according to Kinahan. He added that "once the [merger] news is known, the trading will just slow down significantly." Ahead of its earnings announcement, Staples, Inc. closed at $16.50 Thursday, down 0.54 percent. Kevin Riley and Brianna Valleskey contributed to this report.
Posted In: ExclusivesJJ KinahanTD Ameritrade
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