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TD Ameritrade Chief Strategist Sees Surprising Volatility In JC Penney

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Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan said that volatility for J C Penney Company Inc (NYSE: JCP) was, based on historical volatility, at its first percentile.

"[It's] opposite of what people would expect" because people think of JC Penney as volatile stock, but "from a historical view its not at all," according to Kinahan.

What was interesting to Kinahan was that even "with this low historical volatility, [the market was] still expecting about an...8.5 percent move (up or down)" at its earnings announcement based on implied volatility in the options market.

Heading into its earnings release, JC Penney traded at $9.10, up 1.22 percent.

Kevin Riley and Brianna Valleskey contributed to this report.

Latest Ratings for JCP

DateFirmActionFromTo
Mar 2019MaintainsNeutralNeutral
Dec 2018Initiates Coverage OnUnderweight
Nov 2018DowngradesHoldSell

View More Analyst Ratings for JCP
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Posted-In: JJ Kinahan TD AmeritradeAnalyst Color Exclusives Analyst Ratings

 

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