Big Picture

Two big themes to watch going into next week.  We get the brunt of 2Q 2017 earnings reports next week which creates some trading opportunities (for the short-term people here) and also gives us some insight into what companies think about the second half of this year (for those of us in the long game).  Also, we do get an FOMC announcement on Wednesday.  The fixed income futures market is pricing in a 96.9% chance that rates remain unchanged and the odds of a December hike recently moved below 50%.

Overnight / Pre-Market

VIX is up slightly and US futures are down a bit.  VIX remains at post 2008 lows and just off the all-time low.  Several companies reported after the close and are on the move this morning. 

Higher off earnings: COF + 4.5%, MSFT + V +0.50%

Lower off earnings: AAL -0.7%, GE -3.0%, EBAY -3.8%

EBAY was discussed on What’s Trading Yesterday - What's Trading EBAY

Also, AMZN is under investigation for pricing practices, the stock is only down about 0.75%

Looking Forward

As mentioned there’s a very large list of stocks reporting next week.  Here’s the names for Monday.

Monday Earnings

The full list of these stocks can be found at Earnings Week of 7/24/2017 - 7/28/2017

CBOE Webcasts

July 26th at 3:30 Central – Dan Sheridan discusses The 15-Day Butterfly in SPX

More information and registration at www.cboe.com/webcasts

Also, I co-host a weekly podcast on Fridays from noon to 1:00 Chicago time discussing all thing volatility.  More info at  http://www.theoptionsinsider.com/options-insider-radio-network/

Today in History

Today is the birthday of an American icon, Ernest Hemingway.  He was the winner of the 1954 Nobel Prize for Literature and author of books everyone had to read in school and some of us read because we live to disappear in books.  Ernest Hemingway would be 118 years told today and if still alive would probably be the guy in a Dos Equis commercials that shames “The Most Interesting Man in the World” with his own feats of grandeur.  

ernest-hemingway-typewriter-promo