Red Hat Could Move 7.5% Post-Earnings
Options activity recently in Red Hat Inc (NYSE: RHT) shares suggest a post-earnings move for the stock of nearly 7.5 percent, TD Ameritrade Chief Strategist JJ Kinahan told Benzinga.
"They're not a big options trader," Kinahan said of Red Hat. "But they've traded three times the average calls today and three times the average puts today."
The Raleigh, North Carolina-based software company is expected to post earnings of 0.41 a share on revenue of $472.6 million after the bell Thursday.
Red Hat shares are up about 17 percent in the past three months and changed hands recently at $78.55, up $0.25.
The company has beaten Wall Street's earnings expectations in each of the past four quarters.
Following three of Red Hat's last four earnings reports, its shares have moved higher, according to See It Market.com.
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