Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Jul 14, 2025 at 8:49 AM
Updated on Jul 14, 2025 at 9:19 AM
  • Monday Morning Outlook

 “As such, a risk to bulls, with the above technical levels in mind, is the Trump administration sounding ‘less friendly’ in the days and weeks ahead as they attempt to iron out trade deals and in the context of the SPX’s recovery as trade war de-escalation took root.”

          -Monday Morning Outlook, May 19, 2025

In mid-May, with the S&P 500 Index (SPX—6,259.75) trading back above its 2024 and Election Day 2024 closes, I observed a risk related to President Donald Trump’s shifting strategies with respect to tariffs. As stocks sold off sharply in February and March, driven by the Trump Administration’s announcement of huge tariffs on trade partners around the world, Trump told us not to pay attention to the stock market and instead on the direction of oil prices, which were headed lower.

But there is evidence that Trump was paying attention to stock prices, as the early April shift to kick the can down the road with respect to the “Liberation Day” tariffs occurred at the precise time the SPX was trading 20% below its February all-time closing high – a bear market according to some technicians.

If I am correct about the timing of taking a slightly softer stance on tariffs with respect to equity prices, it would only be natural that Trump might become bolder on tariff strategy amid a recovery in stock prices. 

Barometers of a “recovery” at the time that could have made the Trump Administration bolder include:

  1. The SPX above its year-end 2024 close at 5,882.
  2. The SPX above the 2024 Election Day close of 5,783.
  3. The SPX above the pre-Inauguration Day close of 5,995.
  4. An all-time high in the SPX above the February closing high of 6,144.

SPX 30-Day Chart

With Trump observing that the SPX is at all-time highs on Truth Social, he is becoming bolder, threatening to double tariffs on many countries and imposing 50% levies on a key trading partner (Canada), in addition to ratcheting up pressure on Brazil and Vietnam last week. 

With the new Aug. 1 deadline approaching and Trump’s rhetoric on tariffs becoming more threatening, the excerpt below from Friday's Bloomberg Markets Daily was interesting, in the context of the remarks I made in mid-May with respect to stock prices and tariffs.

Donald Trump has the markets on his side in the trade war right now, and he knows it. That has some market watchers worried that investors’ calm reaction to his latest pronouncements will only embolden him to keep ratcheting up the tariffs, raising the risk of overreach that ultimately sends stock and bond prices sinkingThe VIX index of US equity volatility dropped this week to the lowest since February, while an equivalent measure of fluctuations in the Treasury market fell to the lowest since 2022.”

          -Bloomberg Markets Daily, July 11, 2025

Based on my mid-May comments, it is hard to disagree on risks associated with the Trump administration raising tariffs significantly, and that if such actions come, it will occur when stocks are performing well, not plummeting as they were in February and March.

No one knows what this administration will do. Amid the tariff uncertainty, the best course of action is to key in on price action and separate threats from actions. In other words, it's a risk that Trump will follow through with threats, but judging by price action, the market is viewing these threats as simply that, for now.

The VIX is sitting at multi-month lows amid the increasing tariff threats and looming Aug. 1 deadline. However, when looking at one-month and two-month VIX futures prices and weighting each to create a 30-day continuous VIX futures interpolated contract, the 30-day futures contract is trading at more than a 15% premium to the VIX. 

Senior Quantitative Analyst Rocky White will dive further into the implications in his Indicator of the Week column posted on our website Wednesday mornings. His “at the surface” research before slicing and dicing other angles suggests that when the 30-day VIX futures interpolated contract is trading at a premium of more than 15% (bold in the tables below), the market tends to underperform one to two weeks later, relative to when the premium is smaller or when the VIX is trading above the 30-day futures contract. 

SPX VIX Premium

Amid SPX all-time highs and low VIX readings -- which might make hedging attractive to some of you -- a chart that crossed my desk late last week was easy on the eye for bulls who have a contrarian mindset.

Short interest data was released by the exchanges last week, and we found that total short interest on SPX components increased by 5% from the report two weeks earlier. The SPX managed gains amid the short interest build headwind, nonetheless.

SPX Short Interest

Since early 2024, this continues to be a highly shorted market with total short interest on SPX components near a multi-year high. Amid the strong technical backdrop and evidence of naysayers, the naysayers are seen as a source of support on pullbacks and/or fuel for a sustained move higher, as they feel more pain.

From a short-term perspective, trader optimism is increasing in some areas of the market, evidenced by the low VIX reading relative to the 30-day interpolated VIX futures contract we created. Survey data, such as last week’s National Association of Active Investment Manager (NAAIM) survey reading of 86 out of 100, is showing increased optimism. The reading at this year’s SPX trough was 50.

If the market does pull back to wash out increasing trader optimism, I see the first level of potential support at 6,144, the former all-time closing high in February. Another potential support level is the rising 30-day moving average, currently at 6,080, but projected to be around 6,130 by the end of the week.

In fact, with standard July expiration week upon us, a pullback to the area between 6,130 and 6,144 on Friday would be welcomed by SPY option premium sellers, as an enormous number of SPDR S&P 500 ETF Trust (SPY—623.62) put and call options would expire worthless if the SPY is in the 613-615 vicinity at the end of the week. 

SPY July OI

Todd Salamone is Schaeffer's Senior V.P. of Research

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Published on Jul 14, 2025 at 9:04 AM
Updated on Jul 14, 2025 at 9:04 AM
  • Opening View
 
Published on Jul 11, 2025 at 4:24 PM
  • Market Recap
   
Published on Jul 11, 2025 at 1:00 PM
  • Editor's Pick
  • Technical Analysis
  • Quantitative Analysis

This commentary first appeared on Forbes Great Speculations, where Schaeffer's Investment Research is a regular contributor.

Pet retail stock Chewy (CHWY) hit a June 6, two-year high of $48.62, but since then has taken a more than 20% haircut, thanks in large part to a massive 11% post-earnings drawdown on June 11. After a brief rally from there, the shares have struggled, logging back-to-back weekly losses. The good news is that this pullback has CHWY testing a historically bullish trendline. 

The stock is within one standard deviation of its 80-day moving average. For the purpose of this study, Schaeffer’s Senior Quantitative Analyst Rocky White defines that as the equity trading above the moving average 80% of the time over the last two months, and closing north of the trendline in eight of the last 10 sessions.

Per White’s data, six similar signals have occurred during the past three years. CHWY was higher one month later 78% of the time, averaging a one-month gain of 10.9%. From their current perch at $38.68, a move of similar magnitude would have the shares erasing their 9.3% quarter-to-date deficit and extending a 15.4% year-to-date lead. It would also place the security back in an uptrend channel from its 2025 peak and valley. Note CHWY’s 14-Day Relative Strength Index (RSI) is also drifting into “oversold” territory around 33, an area that preceded rallies back in the fall and spring. 

There’s some exciting short squeeze potential to monitor as well. Short interest is up 7.7% in the most recent reporting period, and the 15.51 million shares sold short account for 7.3% of CHWY’s total available float. 

There could also be an unwinding of bearish bets in the options pits. Chewy stock’s 10-day put/call volume ratio of 0.68 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits higher than 92% of readings from the past year. So while calls still outflank puts on an absolute basis, the high percentile means options traders have been much more pessimistic than usual.

Options are affordably priced at the moment, too, per our Schaeffer’s Volatility Index (SVI) of 38% that sits in the low 7th percentile of its annual range. A premium-selling strategy could be the move going forward, as CHWY’s Schaeffer's Volatility Scorecard (SVS) checks in at a 8 out of 100. This means the security has consistently realized lower volatility than its options have priced in.

Published on Jul 11, 2025 at 1:00 PM
  • Strategies and Concepts

The Ultimate 2025 Trader Slang Glossary

by Schaeffer's Digital Content Team

The world of stock and crypto trading has a language all its own. It all started with the explosion of retail trading during the pandemic-fueled market surge of 2020. Platforms like Robinhood made it easier than ever for everyday investors to jump into the market, and communities on Reddit, Stocktwits, and TikTok gave rise to a new kind of market culture. With it came a rapidly growing dictionary of slang—humorous, aggressive, emotional, and often deeply insightful in its own chaotic way.

From the meme-stock mania of 2021 to the AI-fueled rallies of 2025, trader slang has evolved into a fast-moving, emoji-laced dialect that blends humor, sentiment, and sharp market instincts. Whether you're deep in the Reddit trenches, lurking on Stocktwits, or scrolling FinTok, this ultimate glossary will help you speak the language of modern markets.

The A-Z List of Trader Slang

Apes 🦍
Self-nickname for retail traders, often united on meme stocks.
Example: “The apes aren’t selling $GME—apes together strong!”

Apes Together Strong 🦍🤝
Rallying cry of meme-stock traders, based on the movie Planet of the Apes.
Example: “Hold the line, apes together strong!”

Bagholder 🎒📉
Someone stuck in a losing position after hype fades.
Example: “I bought $BB at the top… now I’m just a bagholder.”

BTFD 🔥📉💰
“Buy the F***ing Dip”—buy when prices drop sharply.
Example: “$NVDA down 5%? Time to BTFD.”

Blown Account 💣📉
A trading account that’s been wiped out due to losses.
Example: “Went all-in on zero-day calls… account’s blown.”

Bull Trap 🐂📉
A fake rally that lures in buyers before crashing.
Example: “That pop above resistance was just a bull trap.”

Chop / Choppy 🌊🔁
Sideways price action with no clear trend.
Example: “I’m staying out—market’s too choppy today.”

Clapped 🔫💀
Got hit hard by a bad trade.
Example: “Those earnings FDs clapped me.”

Cooked 🍳💸
A hopeless position or trade.
Example: “$TSLA broke key support—this position’s cooked.”

Crayon Drawing 🖍️📉
Mocking term for sloppy technical analysis.
Example: “Nice crayon drawing bro, but that’s not a real breakout.”

Cult Stock 🔥🧠
A stock with an obsessive retail following.
Example: “$TSLA is no longer a stock—it’s a cult.”

DD (Due Diligence) 📊🧐
Research or analysis shared in trading communities.
Example: “Here’s my DD on why $PLTR is undervalued.”

Diamond Hands 💎🙌
Holding through volatility with conviction.
Example: “Still holding $AMC—diamond hands, baby!”

Echo Pump 📈📢
Late-stage hype rally after the main move.
Example: “This $AI run feels like an echo pump.”

FD (Full Degenerate / Far-Dated) 🎰💣
High-risk options, often weekly and OTM.
Example: “YOLO’d $300 on $SPY FDs. Let’s go!”

Fintok 📱💬
Finance community on TikTok, known for hype and meme trades.
Example: “Saw this play on FinTok—instant 50% gains.”

Fintwit 🧠🐦
Finance Twitter (now X). Fast-moving and often sharp analysis.
Example: “Fintwit is buzzing about $SOUN today.”

FOMO Candle 🕯️😱
Large green candle caused by fear of missing out.
Example: “That breakout wasn’t news—it was a FOMO candle.”

Flippening 🔄⚖️
When one asset overtakes another in market cap.
Example: “ETH is nearing the flippening with BTC again.”

FUD 😱🧠
Fear, Uncertainty, and Doubt—often meant to shake weak hands.
Example: “Ignore the FUD—company fundamentals are strong.”

Gamma Squeeze 🌀📈
Options-fueled rally from dealers hedging call exposure.
Example: “$NVDA is caught in a gamma squeeze.”

Ghost Candle 👻🕯️
A breakout that instantly reverses—fake move.
Example: “I chased that ghost candle and got wrecked.”

GPU Trade 🎮📈
Stocks surging due to AI or chip hype.
Example: “Another GPU trade—$AMD popping off the $NVDA news.”

HODL 🙌📈
“Hold On for Dear Life”—hold despite volatility.
Example: “It’s been ugly but I’m still HODLing.”

Hold the Line 🛡️📉
Stand firm—don’t sell during panic.
Example: “Everyone’s red but we hold the line!”

IV Crush 📉💨
Options losing value fast after a big event.
Example: “$NFLX earnings hit—now comes the IV crush.”

Lettuce Hands 🥬🙌
Weaker than paper hands—sells at first drop.
Example: “You sold at -2%? Lettuce hands confirmed.”

Marge Called 📞💥
Forced liquidation due to margin requirements.
Example: “Got marge called this morning. Brutal.”

Meme Momentum 📈📲
Price action driven by social media hype.
Example: “$CORZ running again—pure meme momentum.”

Mooning 🚀🌕
A sharp and sustained price rise.
Example: “$UBER is mooning off that PT upgrade.”

Omega Launch 🚀🌌
Beyond a normal moon shot—parabolic rally.
Example: “$NVDA just went omega launch after earnings.”

Paper Hands 🧻🙌
Sells quickly under pressure.
Example: “I had paper hands—sold before the bounce.”

Pumpanomics 💸🧪
Tokenomics (often in crypto) designed to inflate price.
Example: “That coin’s entire model is just pumpanomics.”

Rekt ☠️💥
Wrecked—heavy losses from a trade.
Example: “Tried scalping CPI reaction—got rekt.”

Rug Pull 💨📉
A sudden drop, especially in sketchy projects.
Example: “Classic rug pull—down 40% in minutes.”

Scalping ✂️📉📈
Quick in-and-out trades for small gains.
Example: “Just scalped $QQQ for 1.5%—easy.”

Sentiment Shift ⚖️📊
Change in collective trader mood.
Example: “There’s been a sentiment shift—everyone’s suddenly bearish.”

Sniper Entry 🎯🕵️‍♂️
Perfectly timed trade entry.
Example: “Sniper entry on the retest—now riding it up.”

Solana Summer 🌞📈
Seasonal rally in altcoins, especially Solana.
Example: “It’s Solana Summer again—alts waking up.”

Stacking Sats ₿₿₿📈
Accumulating small amounts of Bitcoin.
Example: “Market’s choppy, I’m just stacking sats.”

Stonk 📈🐸
Humorous version of “stock,” used in memes.
Example: “Stonks only go up!”

Swinging 🗓️📈📉
Holding a trade over days/weeks.
Example: “I’m swinging $AAPL through earnings.”

Tendies 🍗💵
Slang for profits.
Example: “Just closed for 100%—tendies secured.”

Theta Decay ⏳💸
Time decay eroding options’ value.
Example: “That option’s dead from theta decay.”

Toilet Bowl 🚽📉
A chart that spirals down like a flush.
Example: “$LULU’s chart is a total toilet bowl today.”

To the Moon 🚀🌕
Expecting a big upside move.
Example: “$BTC is going to the moon!”

Vol Bomb 💣📊
Sudden spike in implied volatility.
Example: “Fed speech dropped a vol bomb on $SPY.”

WAGMI / NGMI 🙌🔥 / 😓📉
“We’re All Gonna Make It” / “Not Gonna Make It”
Example: “Still holding? WAGMI. Sold at the bottom? NGMI.”

Whale 🐋
Investor with a huge position, can move markets.
Example: “A whale just scooped 1M shares of $TSLA.”

Wizard Buy 🧙‍♂️📈
Legendary, well-timed dip buy.
Example: “That $90 dip was a wizard buy—already up 15%.”

Xperts 🧠😏
Sarcastic term for self-proclaimed experts on X.
Example: “All the Xperts were wrong again.”

YOLO 🎯🔥
You Only Live Once—go all-in on one trade.
Example: “YOLO’d my last $500 on $SPY calls.”

Whether you're new to trading or already fluent in FinTok and Fintwit lingo, mastering this terminology will help you quickly decode the already fast-moving world of modern markets. But while slang and sentiment can offer clues to crowd psychology, it's critical to pair that knowledge with data-backed research, technical indicators, and fundamental analysis. Social media hype can ignite moves, but disciplined strategy and credible sources are what sustain long-term success. Save this list, share it with your trading buddies—and remember: memes may move markets, but smart decisions keep you in the game.

Published on Jul 11, 2025 at 12:12 PM
Updated on Jul 11, 2025 at 12:21 PM
  • 5-Minute Market Rundown
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Published on Jul 11, 2025 at 11:42 AM
  • Midday Market Check

Published on Jul 11, 2025 at 11:00 AM
  • Technical Analysis
  • Options Recommendations

Subscribers to Schaeffer's Weekend Trader options recommendation service received this ZS commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.

Software stock Zscaler Inc (NASDAQ:ZS) has seen a nice continuation of its rally since a late-May positive post-earnings performance. The stock battled the $304 area for more than two weeks in June, which preceded a late-June breakout and retest of this level earlier this week. The $304 mark is also 19 times the stock’s initial public offering (IPO) price.


 
 
Short interest is at an all-time high, rising alongside the security. It would take short sellers three days to cover their bearish bets, with 9% of the stock’s available float sold short. Implied volatility (IV) is sitting 92% lower than annual readings, while a decent amount of put open interest (OI) is at the 290 and 310 strikes in July series. Total put OI on ZS nearly equal to total call OI, which we view as high in context of price action.  
 
Our recommended August call has a leverage ratio of 10.4 and will double in value on a 10% pop in the underlying equity.
Published on Jul 11, 2025 at 11:00 AM
  • Technical Analysis
  • Options Recommendations

Subscribers to Schaeffer's Weekend Trader options recommendation service received this NET commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.

Cybersecurity stock Cloudflare Inc (NYSE:NET) pulled back and bounced near its earlier all-time high breakout and 20-day moving average. Now the equity is above open interest (OI) balance at the 190-strike and peak call level, and could run call stack towards the 220-strike by July expiration. In other words, this gives NET a decent chance to hit our targets.
 
 
Looking toward the options pits, an unwinding of bearish sentiment could trigger tailwinds. NET's 50-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 72% of readings from the past year.
 
Options are affordably priced, per the stock's Schaeffer's Volatility Index (SVI) of 43% that ranks in the 14th percentile of its annual range, implying that options players are pricing in lower-than-usual volatility expectations. Plus, the security's Schaeffer's Volatility Scorecard (SVS) sits at 80 out of 100, meaning it has tended to exceed volatility expectations during the past year.
 
Our recommended September call has a leverage ratio of 5.2 and will double in value on a 21.6% pop in the underlying equity.
Published on Jul 11, 2025 at 8:00 AM
Updated on Jul 11, 2025 at 9:55 AM
  • Editor's Pick
  • Trader Content

Schaeffer's Investment Research turns 44 this month! We are the same age as Kim Kardashian and Justin Timberlake. We want to thank our loyal subscribers and readers for joining us on this journey within the options industry. To show our gratitude, we released a free report on our Top Stock Picks to buy (and hold) for the rest of 2025. Below is a snippet, but click here to access the entirety of the report.

Disclaimer: The levels discussed were taken from an AMD chart on July 1, so price action may have shifted the chart.

Chip powerhouse Advanced Micro Devices Inc (NASDAQ:AMD) is still on a warpath after taking out Intel (INTC). It's now looking at Nvidia (NVDA) and gaining ground on the artificial intelligence (AI) front quickly. There is a strong, long- term uptrend on the weekly chart, with a trendline of higher lows since December 2018. The stock reclaimed its 200-week (green) and 52- week (blue) moving averages, as well as half its all-time high. at $113.65.

The shares also took out the 50% Fibonacci retracement of their Dec. 18 low and record high, at $121, breaking above a trendline of descending highs. Plus, the 20- week moving average is turning higher.

AMD Stock Chart

Through the August series, peak put open interest (OI) is at $110, while heavy put OI is at $115, $120, and $125. There is a pause near peak call OI at $130, right now, but a breakout could kick off a spike through several deep- out- of- the- money strike calls ($155 and $160), prompting market makers to adjust their hedges and potentially add to the rally. The last significant call OI strike is at $200. The stock is a buy down to $110 and up through $140.

Published on Jul 11, 2025 at 9:00 AM
  • Opening View
 
Published on Jul 11, 2025 at 8:00 AM
  • Technical Analysis
  • Trader Content
  • Editor's Pick

Schaeffer's Investment Research turns 44 this month! We are the same age as Kim Kardashian and Justin Timberlake. We want to thank our loyal subscribers and readers for joining us on this journey within the options industry. To show our gratitude, we released a free report on our Top Stock Picks to buy (and hold) for the rest of 2025. Below is a snippet, but click here to access the entirety of the report.

Disclaimer: The levels discussed were taken from an AMZN chart on July 1, so price action may have shifted the chart.

E- commerce giant Amazon.com Inc (NASDAQ:AMZN) made a big move in the spring to reclaim its 2020-2021 range highs on the monthly candle. The market is potentially undervaluing what artificial intelligence (AI) can do for Amazon Web Service (AWS) revenue streams, and the benefits could provide a big boost for the stock when earnings roll around.

AMZN Stock Chart

In the options pits, we're seeing deep in-the-money December 270 puts being sold and December 270 being bought in bulk, which means there are big players potentially positioning themselves for a year-end rally. Premium is affordably priced as well, with AMZN's Schaffer's Volatility Index (SVI) coming in at the 8th percentile of its annual range.

Begin the New Year With Schaeffer's 7 FREE 2022 Stock Picks!

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