THE WEEK AHEAD: SNAP, NFLX, IBM EARNINGS; /ZC, /CLEARNINGS:
IBM (63/54) announces Monday after market close.
SNAP (92/102) announces Tuesday after market close.
NFLX (66/70) announces Tuesday after market close.
EXCHANGE-TRADED FUNDS ORDERED BY IMPLIED VOLATILITY RANK/PERCENTILE SCREENED FOR RANK >50/IMPLIED >35%:
XLU (77/47)
GDXJ (77/84)
GDX (67/65)
SLV (66/45)
TQQQ (63/111)
USO (62/112)
XLE (59/70)
EWW (58/54)
EWZ (53/69)
XOP (59/91)
BROAD MARKET EXCHANGE-TRADED FUNDS ORDERED BY IMPLIED VOLATILITY RANK/PERCENTILE:
IWM (72/54)
QQQ (47/38)
SPY (45/28)
EFA (44/31)
EEM (41/36)
FUTURES ORDERED BY IMPLIED VOLATILITY RANK/PERCENTILE:
/ES (44/40)
/NQ (47/39)
/YM (51/13)
/RTY 72/53
/CL (62/130)
/NG (94/71)
/GC (67/27)
/SI (66/43)
/ZC (57/28)
/ZS (33/17)
/ZW (27/31)
Notes: Pictured here is a /ZC August 21st 310/330 long call vertical, currently trading at 11.25 with a break even at 321.25 versus 321 spot. Ideally, you'd want to put this on with at least make one/risk one metrics, which would occur if the spread priced out at 10.00 even or below. /ZC is tantalizingly close to those August 2016 lows at 310 '06 ... .
Another future worth mentioning here: /CL. As I write this post, the May contract is currently trading at multi-year lows at 15.09, with the June contract trading at 23.66. May drops off this week with the question being how low the June contract will go. I continue to look to sell puts on weakness in the active contract at or below $20.
VIX/VIX DERIVATIVES:
VIX finished the week at 38.15 with the /VX term structure in backwardation.
