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TD Ameritrade's JJ Kinahan Sees 4% Move For Intuit

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Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan said that, based on implied volatility in the options market, Intuit Inc. (NASDAQ: INTU) was expected to make a 4 percent move, up or down, following its earnings release on Thursday.

Kinahan said it was interesting from a historical volatility perspective that Intuit is at the 78th percentile and that it is “sitting right at its 50 day moving average.”

Kinahan saw significant volume in the $97.50 Calls, which were “relatively inexpensive” because of being so far out of the money.

Intuit will report Q2 earnings after the market close on Thursday.

Heading into its earnings report, Intuit traded at $90.06, up 0.33 percent.

Kevin Riley and Brianna Valleskey contributed to this report.

Latest Ratings for INTU

DateFirmActionFromTo
Aug 2019MaintainsEqual-Weight
Aug 2019MaintainsNeutral
Aug 2019MaintainsOutperform

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