What’s Up With Weeklys – 8/28/2013

New Weeklys that expire next Friday September 6th start trading in the morning.  The ever growing list of equities with short dated options available will see the number grow by five as the following three exchange traded funds and two stocks join the list –

Exchange Traded Funds

Ticker

Price

iShares iBoxx $ High Yield Corporate Bond Fund

HYG

91.06

iShares Dow Jones US Real Estate Fund

IYR

62.62

Technology Select Sector SPDR

XLK

31.38

Stocks

Ticker

Price

Advanced Micro Devices

AMD

3.42

Elan Corporation PLC

ELN

15.03

 

Next week is fairly quiet on the earnings announcement front.  This is typical of the Labor Day shortened week.  Do keep in mind some extra time decay may be accounted for as Friday afternoon wears on in front of the three day weekend.  Finally, Salesforce.com (CRM – 42.78) reports this Thursday after the close.  Since there is a lack of company specific news it is getting a lot of attention from traders that like to play earnings reports.  Looking over the last twelve quarters the average move off earnings (Friday’s reaction) has been an average move (higher or lower) of 8.32%.  The last report was relatively tame with a drop of 5.32%.