TD Ameritrade Chief Strategist JJ Kinahan On Kroger Ahead Of Earnings

Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan said that Kroger Co

was expected to move over 4 percent, up or down based on implied volatility, ahead of its earnings report on Thursday. The stock was up over 17 percent since its last earnings release and was at its 64th percentile from a volatility perspective, which "was nothing spectacular," according to Kinahan. The options activity on the stock was interesting, Kinahan said, with Puts being traded at 8 times the normal volume. Kinahan saw buyers in the March $65 Puts which was "outside the expected move" and may have been an owner of shares "putting a floor in" if the price dropped below the anticipated move. Ahead of its earnings release, Kroger Co traded at $69.63, down 0.50 percent. Kevin Riley and Brianna Valleskey contributed to this report.