Earnings Winners: SNX and UNF Stocks

SNX and UNF both have put-skewed SOIR readings

by Josh Selway

Published on Jun 26, 2019 at 3:03 PM

Two stocks worth touching on today because of their huge post-earnings moves are Synnex Corporation (NYSE:SNX) and UniFirst Corp (NYSE:UNF). Let's look at how SNX and UNF shares are trading, and some of the sentiment data around them, as well.

SNX shares were last seen trading up 10.1% at $101.33, on pace for their highest close in more than a month. The logistics services specialist beat on the top and bottom lines, and today's price action has the shares back above their formerly supportive 80-day moving average, though they're still negative on a year-over-year basis.

Options volume is generally light on Synnex, but those holding contracts that expire within three months are very put-skewed at the moment. This is according to the equity's Schaeffer's put/call open interest ratio (SOIR) of 2.16, which actually ranks as an annual high. Short interest is also high on the security, as it would take almost seven days for shorts to cover, based on SNX's average daily trading volume.

UNF shares are trading at their highest point since last September, last seen up 6% on the day at $176.63. Earnings per share blew past estimates, and revenue for the quarter was strong, as well. Traders are also cheering stronger-than-expected full-year guidance. Today's price action puts the stock's year-to-date gain at 23.5%, and follows last quarter's 8.4% move for the day after earnings.

Still, sentiment seems quite bearish on the workplace uniform provider, with just one covering analyst recommending to buy the stock. And while absolute options activity is even lighter on UNF than SNX, the security's SOIR comes in at a very put-heavy 5.50.

From Schaeffer's Pro Traders
Trade Weekly Options Like a Pro

Direct from our Schaeffer's traders, your FREE guide to profiting with weeklies!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The "Trick" Used By the World's Wealthiest
A simple way to stop picking losers, and start cashing in like Wall Street's elite.
Immuron Stock Explodes; Plus, the Small-Cap Expected to Double
Meanwhile, CDNA stock is reeling after a scathing short seller report
Fiat Chrysler Stock Rally Stalled by Sell Rating
This is FCAU's only "sell" rating
The "Trick" Used By the World's Wealthiest
A simple way to stop picking losers, and start cashing in like Wall Street's elite.