Blue-Chip IBM Stock Brushes Off Pre-Earnings Bear Note

IBM will report earnings after the close on Monday, July 18

Digital Content Manager
Jul 14, 2022 at 2:10 PM
facebook X logo linkedin

Blue-chip concern IBM (NYSE:IBM) is up 0.9% at $138.39 this afternoon, brushing off a price-target cut from BofA Global Research to $163 from $165. Today's bear note comes just ahead of the tech name's second-quarter earnings report, which is due out after the close on Monday, July 18. Ahead of next week's event, let's take a look at IBM's recent chart performance, and how the equity has usually fared the day after its earnings call.

Despite a volatile year so far, IBM stock is fresh off a June 6, roughly one-year high of $144.73. The equity has had support at its 80-day moving average since late May, with the trendline today capturing a pullback to the $135 level. While a ceiling appears to be emerging at the $142 area, IBM has managed to stay above its year-to-date breakeven. 

IBM 80 Day

The security has a mixed history of post-earnings returns, finishing four of eight next-day sessions higher, including a 7.1% pop in April. Shares averaged a move of 5.5% over the past two years, regardless of direction, but this time around the options pits pricing in a bigger swing of 7%.

Options traders are pessimistic, according to the IBM's 10-day put/call volume ratio of 1.26 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 93% of readings from the past year. This means puts have been getting picked up at a much faster-than-usual pace.


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