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Are Options Traders Betting on a Big Move in AT&T (T) Stock?
Investors in AT&T Inc. (T - Free Report) need to pay close attention to
the stock based on moves in the options market lately. That is because the
May 4, 2018 $40.00 Call had some of the highest implied volatility of all
equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the
future. Options with high levels of implied volatility suggest that
investors in the underlying stocks are expecting a big move in one direction
or the other. It could also mean there is an event coming up soon that may
cause a big rally or a huge sell-off. However, implied volatility is only
one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for AT&T shares, but what
is the fundamental picture for the company? Currently, AT&T is a Zacks Rank
#3 (Hold) in the Wireless National industry that ranks in the Top 42% of
our Zacks Industry Rank. Over the last 30 days, one analysts has increased
their earnings estimates for the current quarter, while seven have dropped
their estimates. The net effect has taken our Zacks Consensus Estimate for
the current quarter from 90 cents per share to 89 cents in that period.
Given the way analysts feel about AT&T right now, this huge implied
volatility could mean there’s a trade developing. Oftentimes, options
traders look for options with high levels of implied volatility to sell
premium. This is a strategy many seasoned traders use because it captures
decay. At expiration, the hope for these traders is that the underlying
stock does not move as much as originally expected |
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