Strategist On Rite Aid: Market Is Expecting 6.5% Move Following Earnings

Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan commented on Rite Aid Corporation RAD ahead of its earnings report.

Kinahan noted that the stock was at its 92nd percentile for historical volatility and that options activity was seen with sales of April $9 Calls.

Based on implied volatility, the market expected an approximate 6.5 percent move, up or down, in the stock following earnings, according to Kinahan.

Rite Aid is due to release Q4 earnings Wednesday morning and recently traded at $8.69, down 1.64 percent.

Kevin Riley and Brianna Valleskey contributed to this report.