Options trading and earnings preview: five bank heavyweights, Goldman Sachs, Citigroup, Bank of America, JP Morgan, and Wells Fargo, all report earnings Tuesday morning before the open. All of them are near annual highs after quietly leading the S&P 500. But implied moves are only 3 to 5%, which is abnormally low compared to names like Micron or Tesla. Mike Butler wants to see them fade first before selling a put. Jermal finds a JP Morgan calendar spread, the 340/350 in the 4-day vs 11-day cycle, for less than $2 that could double on a move. Plus the free-look play: skip Tuesday's binary risk and trade PNC and Morgan Stanley on Wednesday after you see which way the group moves.
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Chapters
00:00 Four financial heavyweights report Tuesday morning
00:...