TD Ameritrade Chief Strategist Says Market Expects 4.2% Move For Accenture

Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan said that options trading on Accenture Plc ACN had seen four times the normal volume on Monday.

April $88 Puts had seen the most buying action and Kinahan noted that the stock's implied volatility was at the 99th percentile.

Kinahan commented that the stock was not known to be extremely volatile and that based on the implied volatility, the market expected a 4.2 percent move in the stock, up or down, ahead of earnings.

Accenture is scheduled to report Q2 earnings Thursday before the market open and recently traded at $88.80, down 0.68 percent.

Kevin Riley and Brianna Valleskey contributed to this report.