TD Ameritrade Chief Strategist On Honeywell Ahead Of Earnings

Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan discussed Honeywell International Inc. HON ahead of its earnings release.

Kinahan noted the the stock was up 3 percent since its last earnings announcement and tnat, based on implied volatility, the market was expecting a move of less than 2 percent following earnings.

Increased selling was seen on Monday in the May $110 and May $105 Calls. Kinahan commented that the activity could be due to a trader closing positions.

However, Call selling would not typically be interpreted by the market as a bullish signal, according to Kinahan.

Honeywell International Inc. reports Q1 earnings Thursday morning and recently traded at $103.76, down 0.03 percent.

Kevin Riley and Brianna Valleskey contributed to this report.