Schlumberger Stock Could Bounce After Earnings

Schlumberger was positive in five out of its last eight post-earnings sessions

Deputy Editor
Apr 21, 2022 at 1:06 PM
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Oil-and-gas company Schlumberger NV (NYSE:SLB) is set to report its first-quarter earnings before the open tomorrow, and investors are keeping their eye on the energy name, which has a positive history in the earnings spotlight. Below, we will take a look at Schlumberger stock's performance on the charts, and how SLB options traders are speculating ahead of tomorrow's earnings release. 

SLB stock is down 2.1% at $41.78 at last check, though its 40-day moving average continues to offer support. The trendline originally aided the security in its climb to the $46 level, which marked a more than three-year high for the shares. The equity boasts a 40.9% year-to-date lead.

SLB Chart 2 April 21

Schlumberger stock's past post-earnings performances could embolden investors. While SLB stock has averaged a one-day move of only 3.2% in either direction following the last eight earnings releases, the shares have made a positive one-day post-earnings move in five of the last eight quarters. This time around, near-term options traders are betting on a larger-than-usual swing of 5.7%.

It looks like options traders have already made a move toward calls. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day call/put volume ratio of 7.14 sits higher than 83% of readings in its annual range. This means calls have been picked up at a faster-than-usual clip in the last two weeks.
 
It's also worth noting that Schlumberger stock tends to outperform volatility expectations. This is according to its Schaeffer's Volatility Scorecard (SVS), which ranks at 90 out of a possible 100.

 

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