Strategist Discusses Options Activity Ahead Of Buffalo Wild Wings And Panera Bread Earnings

TD Ameritrade Chief Strategist JJ Kinahan on Tuesday shared his thoughts about options activity in Buffalo Wild Wings BWLD and Panera Bread Co PNRA, both of which report financial results after the market closes.

Buffalo Wild Wings

Although this stock is not a big options trader, there is a pretty big move (of just under 9 percent) built into the options right now. In addition, implied volatility is at the 78^th percentile. While this is not usually a big options trader, Tuesday has seen three times the normal amount of puts and three times the normal amount of calls traded.

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Thus, the strategist highlights people are playing both sides on Buffalo Wild Wings.

Panera Bread

Kinahan then went into Panera, which is a stock he does not usually trade. He told Benzinga he sees a 6.25 percent move price in here, while implied volatility stands at the 70^th percentile.

The expert adds that the firm is seeing buyers in the August $190 calls. Moreover, the stock is seeing four times the amount of normal call activity on Tuesday, suggesting a bull market ahead of earnings.