Dow Stock Attempting Rebound Before Earnings

IBM has added 7% so far for the month of April

Managing Editor
Apr 17, 2020 at 1:34 PM
facebook X logo linkedin

Shares of blue-chip IBM (NYSE:IBM) are up 2.8% this afternoon, last seen at $118.89. The equity has been inching its way higher from its March 23, 11-year low of $90.56, and is now up 7% for the month of April. Today's gains has the tech name attempting yet another rebound close back above the 40-day moving average, a feat made just twice since late February. 

Daily IBM Since 40MA

Looking ahead, IBM is scheduled to report first-quarter earnings after the close Monday, April 20. During the past two years, the security has averaged a 5.6% move, regardless of direction, the day after reporting. This time around, the options market is pricing in a higher-than-usual, 8.1% swing for Tuesday's trading.

Digging deeper, puts have been a favorite among options traders.This is per IBM stock's 10-day put/call volume ratio of 1.54 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio ranks in the lofty 96th annual percentile, indicating puts have been purchased over calls at a faster-than-usual clip as of late.

Analysts have also been uncertain when considering IBM. Heading into today, eight of the 12 covering firms sport a tepid "hold" recommendation. Even further, early this morning BMO Capital slashed its price target on the equity to $135 from $155, though the revised outlook still represents a premium to IBM's Thursday close.



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI