{"id":109091,"date":"2021-10-28T13:12:00","date_gmt":"2021-10-28T17:12:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=109091"},"modified":"2023-02-10T13:32:21","modified_gmt":"2023-02-10T18:32:21","slug":"what-the-options-market-is-telling-us-about-apple-and-amazon-earnings","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/options\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/","title":{"rendered":"What the Options Market is Telling Us About Apple and Amazon Earnings"},"content":{"rendered":"\n<p>This afternoon brings the final slug of mega-cap tech earnings when Apple (AAPL) and Amazon (AMZN) report after the close.&nbsp; Together they represent about 10% of the S&amp;P Index (SPX) and just under 20% of the NASDAQ 100 Index (NDX).&nbsp; We had a similarly significant afternoon on Tuesday, when Microsoft (MSFT) and Alphabet (GOOG, GOOGL) reported solid results after the close.&nbsp; Both stocks rose smartly, +4.21% and 4.95% respectively, allowing NDX to rise 0.25% on a day when SPX fell -0.51%.&nbsp; It appears that stock traders are expecting similarly positive results from AAPL and AMZN, as they rise 2.5% and 1.3% in anticipation.&nbsp;<\/p>\n\n\n\n<p>Those rises may also be somewhat attributable to today\u2019s GDP report.&nbsp; Stock traders appeared to view today\u2019s report as a generally positive \u201cGoldilocks\u201d report.&nbsp; That is unsurprising, because equities appear to be in an \u201call news is good news\u201d mode.&nbsp; Yet the <a href=\"https:\/\/www.bea.gov\/sites\/default\/files\/2021-10\/gdp3q21_adv.pdf\">full report shows a 12.2% annualized gain<\/a> in intellectual property products.&nbsp; That could play an important role in explaining both the solid results from MSFT and GOOG, and today\u2019s outperformance in AAPL and AMZN.<\/p>\n\n\n\n<p>Ahead of Facebook\u2019s (FB) earnings on Monday, <a href=\"\/campus\/traders-insight\/securities\/options\/what-is-the-options-market-telling-us-about-facebook-earnings\/\">we looked at options skew and the options market\u2019s implied probabilities<\/a>.&nbsp; The options market got it generally right, with an anticipation of a move of about 5% with a bias to the downside.&nbsp; FB fell -3.92% on Tuesday.&nbsp; That is why we see value in utilizing this methodology for AAPL and AMZN.<\/p>\n\n\n\n<p>It is clear that options traders are thinking positively about AAPL, as evidenced in the chart below<sup>[i]<\/sup>:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-multi-expiry-skew-for-aapl-with-sequential-three-week-expirations\"><strong>Multi-Expiry Skew for AAPL With Sequential Three-Week Expirations<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"667\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg\" alt=\"Multi-Expiry Skew for AAPL With Sequential Three-Week Expirations\" class=\"wp-image-109097 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-700x424.jpeg 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-300x182.jpeg 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-768x466.jpeg 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE.jpeg 1280w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/667;\" \/><\/figure>\n\n\n\n<p><em>Source: Interactive Brokers<\/em><\/p>\n\n\n\n<p>The skew is relatively symmetrical, especially in subsequent weeks, meaning that traders are generally not especially concerned with hedging downside risk.&nbsp; Interestingly, the lowest implied volatilities in the current weekly options are at the $147.5 level.&nbsp; Bloomberg data shows that AAPL\u2019s average post-earnings move is 4.29%, and that AAPL traded lower after each of its last 4 releases.&nbsp; Traders are saying that the most likely historical outcome is the one they fear the least.&nbsp; The probability lab<sup>[ii] <\/sup>demonstrates a relatively sanguine view as well, with an at-money implied volatility of about 57% implying a roughly 3.5% daily move<sup>[iii]<\/sup> and with more area under the upside portion of the curve than the downside:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>IBKR Probability Lab for AAPL Options Expiring October 29, 2021<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"306\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/90D50049-8622-47E5-A02B-F59897FE877D_4_5005_c-1100x306.jpeg\" alt=\"IBKR Probability Lab for AAPL Options Expiring October 29, 2021\" class=\"wp-image-109098 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/90D50049-8622-47E5-A02B-F59897FE877D_4_5005_c-1100x306.jpeg 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/90D50049-8622-47E5-A02B-F59897FE877D_4_5005_c-700x195.jpeg 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/90D50049-8622-47E5-A02B-F59897FE877D_4_5005_c-300x83.jpeg 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/90D50049-8622-47E5-A02B-F59897FE877D_4_5005_c-768x213.jpeg 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/90D50049-8622-47E5-A02B-F59897FE877D_4_5005_c.jpeg 1162w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/306;\" \/><\/figure>\n\n\n\n<p><em>Source: Interactive Brokers<\/em><\/p>\n\n\n\n<p>AMZN shows a similarly symmetrical skew, but with a much broader range of outcomes near the current price.&nbsp; The wider range is not surprising, considering that Bloomberg data shows an average post-earnings move of 6.4%, but the story here is that the market is almost completely agnostic about direction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Multi-Expiry Skew for AMZN With Sequential Three-Week Expirations<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"667\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/3ABA2853-B202-4D3F-AA0D-B57C7F56E092-1100x667.jpeg\" alt=\"\" class=\"wp-image-109099 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/3ABA2853-B202-4D3F-AA0D-B57C7F56E092-1100x667.jpeg 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/3ABA2853-B202-4D3F-AA0D-B57C7F56E092-700x425.jpeg 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/3ABA2853-B202-4D3F-AA0D-B57C7F56E092-300x182.jpeg 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/3ABA2853-B202-4D3F-AA0D-B57C7F56E092-768x466.jpeg 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/3ABA2853-B202-4D3F-AA0D-B57C7F56E092.jpeg 1269w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/667;\" \/><\/figure>\n\n\n\n<p><em>Source: Interactive Brokers<\/em><\/p>\n\n\n\n<p>Bear in mind that like AAPL, AMZN stock moved lower after each of the past 4 earnings releases.&nbsp; That doesn\u2019t appear to be a concern today.&nbsp; The probability lab also shows a quite sanguine view, with a remarkably symmetrical set of probabilities.&nbsp; The at-money implied volatility is 76, while high in an absolute sense, implies a daily move of about 4.75, which is below average.&nbsp; <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>IBKR Probability Lab for AMZN Options Expiring October 29, 2021<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"278\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/CDAD1C55-241E-4640-8580-73596E25E0B5_4_5005_c-1100x278.jpeg\" alt=\"\" class=\"wp-image-109100 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/CDAD1C55-241E-4640-8580-73596E25E0B5_4_5005_c-1100x278.jpeg 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/CDAD1C55-241E-4640-8580-73596E25E0B5_4_5005_c-700x177.jpeg 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/CDAD1C55-241E-4640-8580-73596E25E0B5_4_5005_c-300x76.jpeg 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/CDAD1C55-241E-4640-8580-73596E25E0B5_4_5005_c-768x194.jpeg 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/CDAD1C55-241E-4640-8580-73596E25E0B5_4_5005_c.jpeg 1172w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/278;\" \/><\/figure>\n\n\n\n<p><em>Source: Interactive Brokers<\/em><\/p>\n\n\n\n<p>Bear in mind that while the options market can get it right, they can also get it wrong.&nbsp; But it did a good job with FB.&nbsp; We are being told right now that traders are relatively complacent about this afternoon\u2019s AAPL and AMZN earnings.&nbsp; They are paying less for implied volatility than history would suggest is appropriate and believe that an upside surprise is about as likely as one to the downside.&nbsp;&nbsp; Remember that it is usually easier to surprise a sanguine market than a nervous one.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>[i] On your TWS, Analytical Tools -&gt; Options Analysis -&gt; Multi-Expiry Skew, then set the desired expirations and strikes<\/p>\n\n\n\n<p>[ii] On your TWS, Analytical Tools -&gt; Options Analysis -&gt; Probability Lab<\/p>\n\n\n\n<p>[iii] We divide by 16 to convert annualized implied volatility into a daily number.&nbsp; More here: \/campus\/traders-insight\/securities\/options\/understand-the-rule-of-16\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This afternoon brings the final slug of mega-cap tech earnings when Apple (AAPL) and Amazon (AMZN) report after the close. <\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14700,6,19,8,9,22,26,3],"tags":[148,264],"contributors-categories":[13576],"class_list":{"0":"post-109091","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-ibkr-market-insights","7":"category-north-america","8":"category-options","9":"category-region","10":"category-securities","11":"category-stocks","12":"category-text-articles","13":"category-traders-insight","14":"tag-amazon","15":"tag-apple","16":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What the Options Market is Telling Us About Apple and Amazon Earnings<\/title>\n<meta name=\"description\" content=\"This afternoon brings the final slug of mega-cap tech earnings when Apple (AAPL) and Amazon (AMZN) report after the close.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/109091\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What the Options Market is Telling Us About Apple and Amazon Earnings | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"This afternoon brings the final slug of mega-cap tech earnings when Apple (AAPL) and Amazon (AMZN) report after the close.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-28T17:12:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-10T18:32:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Steve Sosnick\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t            },\n\t            \"headline\": \"What the Options Market is Telling Us About Apple and Amazon Earnings\",\n\t            \"datePublished\": \"2021-10-28T17:12:00+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:32:21+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\\\/\"\n\t            },\n\t            \"wordCount\": 706,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.ibkrcampusdev.wpengine.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/10\\\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg\",\n\t            \"keywords\": [\n\t                \"Amazon\",\n\t                \"Apple\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"IBKR Insights\",\n\t                \"North America\",\n\t                \"Options\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Stocks\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\\\/\",\n\t            \"name\": \"What the Options Market is Telling Us About Apple and Amazon Earnings | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.ibkrcampusdev.wpengine.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/10\\\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg\",\n\t            \"datePublished\": \"2021-10-28T17:12:00+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:32:21+00:00\",\n\t            \"description\": \"This afternoon brings the final slug of mega-cap tech earnings when Apple (AAPL) and Amazon (AMZN) report after the close.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.ibkrcampusdev.wpengine.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/10\\\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.ibkrcampusdev.wpengine.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2021\\\/10\\\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg\"\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t            \"name\": \"Steve Sosnick\",\n\t            \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t            \"sameAs\": [\n\t                \"https:\\\/\\\/ibkr.com\"\n\t            ],\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"What the Options Market is Telling Us About Apple and Amazon Earnings","description":"This afternoon brings the final slug of mega-cap tech earnings when Apple (AAPL) and Amazon (AMZN) report after the close.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/109091\/","og_locale":"en_US","og_type":"article","og_title":"What the Options Market is Telling Us About Apple and Amazon Earnings | IBKR Campus US","og_description":"This afternoon brings the final slug of mega-cap tech earnings when Apple (AAPL) and Amazon (AMZN) report after the close.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/","og_site_name":"IBKR Campus US","article_published_time":"2021-10-28T17:12:00+00:00","article_modified_time":"2023-02-10T18:32:21+00:00","og_image":[{"url":"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg","type":"","width":"","height":""}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"What the Options Market is Telling Us About Apple and Amazon Earnings","datePublished":"2021-10-28T17:12:00+00:00","dateModified":"2023-02-10T18:32:21+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/"},"wordCount":706,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg","keywords":["Amazon","Apple"],"articleSection":["IBKR Insights","North America","Options","Region","Securities","Stocks","Text Articles","Traders' Insight"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/","name":"What the Options Market is Telling Us About Apple and Amazon Earnings | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg","datePublished":"2021-10-28T17:12:00+00:00","dateModified":"2023-02-10T18:32:21+00:00","description":"This afternoon brings the final slug of mega-cap tech earnings when Apple (AAPL) and Amazon (AMZN) report after the close.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/what-the-options-market-is-telling-us-about-apple-and-amazon-earnings\/#primaryimage","url":"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg","contentUrl":"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/E6413B88-0ECD-4FFB-A89A-3A8A64C8B6FE-1100x667.jpeg"},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/109091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=109091"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/109091\/revisions"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=109091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=109091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=109091"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=109091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}