Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan discussed Honeywell International Inc. HON ahead of its earnings release.
Kinahan noted the the stock was up 3 percent since its last earnings announcement and tnat, based on implied volatility, the market was expecting a move of less than 2 percent following earnings.
Increased selling was seen on Monday in the May $110 and May $105 Calls. Kinahan commented that the activity could be due to a trader closing positions.
However, Call selling would not typically be interpreted by the market as a bullish signal, according to Kinahan.
Honeywell International Inc. reports Q1 earnings Thursday morning and recently traded at $103.76, down 0.03 percent.
Kevin Riley and Brianna Valleskey contributed to this report.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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