Thanks to an announcement on Tuesday by Apple Inc. (NASDAQ:AAPL) that its quarterly earnings report would come after the market’s close on Jan. 27, some options players were dealing with losses on Wednesday.
The date came as somewhat of a surprise as some financial sources had estimated a date of Jan. 23 for the news, reported the Wall Street Journal’s Kaitlyn Kiernan.?While it is only four-day difference, it encompasses two option expiration dates.
From this, Apple options were falling on Wednesday as ?earnings premium? had been factored out with?William Lefkowitz, options strategist National Securities, noting to Kiernan,??A lot of different websites that were projecting the earnings date were wrong, so a lot of people might have got caught off guard.??
Apple?s implied volatility had been trading lower with the Jan 24 Weeklies hit hard as its implied volatility dropped one point (4.2%), according to LiveVol Inc. data. Overall, Apple’s options are actively trading on Wednesday with 210,767 contracts trading (63.7% calls, 36.3% puts) as of 2:30 p.m. ET.?
As for the underlying, Apple is trading at $544.10, up $4.16 (.74%).