Wednesday 06 May 2020 Morning Notes

Lament for a straddle, CHGG edition. I had the 55 straddle scoped out and loaded, but thought it was trading at a slight premium. Then I watched as the stock and implied volatility skyrocketed. Quite the move. Sold some of the 45 puts looking for IV to come in, we'll see what happens.

Earnings: Yesterday AMC: ANET, ATVI, BYND, CC, CLVS, DIS, DVA, DVN, EA, KLAC, MAT, MELI, OXY, PAA, PINS, SPCE, SU,
Today BMO: ALXN, CVS, GM, GPC, IONS, KKR, PZZA, SHOP, ZTS;

Other News:

Follow Through Names to Watch: W, SHAK, CHGG, 

GAINERS:
MELI: +16% AT 720;
BYND: +9% AT 109;
ATVI: +5.7% AT 72.40;

LOSERS:
PINS: -16% AT 17.50; not a good sign that they couldn't convert on this pandemic
EA: -3.7% at 115.25;
ZTS: -2.7% at 127.70;

FLAT:

Follow through watch:

Day before Y'day AMC: AIG, CRUS, MOS, SHAK, SWKS, THC, WMB; CHGG, TREX
Yesterday BMO: DD, FCAU, ITW, LITE, MPC, NEM, REGN, SYY, W 

Y'day Other News: QSR pops on activist stake; W: +30% at 175; CHGG: +17% at 51; LB: -16% at 10.40, after deal fell through; ITW: -3.4% at 153;

2 days ago AMC: 
2 days ago BMO: TSN, RACE,; L

2 Day Old News: WW: STML: +152% at 12.00 on takeover PLAY: -14% at 11.50; AAL: -10% at 9.50; airlines all lower this AM; NCLH: -10% at 12.50; cruiselines all lower this AM

TT Track of the Day: ZZ Top - I thank you, for some reason this song was in my head this morning