TD Ameritrade's JJ Kinahan Sees Nearly A 3% Move Home Depot

TD Ameritrade Chief Strategist JJ Kinahan spoke to Benzinga ahead of Home Depot Inc HD reporting its Q4 earnings.

Kinahan noted that Home Depot’s stock had increased approximately 15 percent since its last earnings report and that, based on implied volatility, the market expected a move (up or down) of “just under 3 percent” in the stock following the earnings release.

The weekly $113 Calls and the weekly $109 Puts were the two options most heavily traded Monday, according to Kinahan, trading at approximately 2.5 times a normal day.

Kinahan added that more action was happening on the Calls than Puts.

Heading into its earnings release on Tuesday morning, shares of Home Depot Inc closed at $12.21 on Monday, down 0.03 percent.

Kevin Riley and Brianna Valleskey contributed to this report.