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

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TD Ameritrade Chief Strategist JJ Kinahan spoke to Benzinga ahead of Home Depot Inc (NYSE: 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 closed Monday at $12.21, down 0.03 percent.

Kevin Riley and Brianna Valleskey contributed to this report.

Latest Ratings for HD

DateFirmActionFromTo
Sep 2019DowngradesBuyNeutral
Sep 2019MaintainsBuy
Aug 2019MaintainsOverweight

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