Software stock rally hinges on Salesforce earnings as options traders bet big
By
@cnbc.com
Not artisan, but a perfectly fine bagel. Hits the spot.
Summary
Options traders are heavily betting on a major move in Salesforce stock ahead of its earnings report, with unusually high call option volume and implied volatility pricing in a 7.8% swing. The article suggests the software sector's recovery from the "SAAS-pocalypse" hinges on the market's reaction to this single earnings report, as traders show renewed optimism in software stocks.
Key quotes
· 3 pulledOptions traders are convinced the 'SAAS-pocalypse' is over.
Whether that's true will likely depend on the market's reaction to one earnings report Wednesday.
Implied volatility is pricing in a 7.8% swing, more than twice the realized move after the past four earnings reports.
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