NaughtyPines

THE WEEK AHEAD: MU, FDX EARNINGS; XOP, IWM, EWZ

NASDAQ:MU   MICRON TECHNOLOGY INC
EARNINGS:

MU (36/64/11.7%) announces earnings on Monday after the close. Pictured here is a 19 delta short strangle in the July expiry, paying 1.55.

FDX (46/59/11.4%) announces Tuesday after the close, with the 20 delta July 17th 115/147 paying 4.56.


EXCHANGE-TRADED FUNDS ORDERED BY RANK AND SCREENED FOR 30-DAY >35%:

EWW (59/44/12.6%)
EWZ (47/63/17.7%)
XLE (45/52/16.0%)
GDXJ (43/60/17.7%)
SMH (37/42/12.0%)
GDX (36/45/14.5%)
XOP (32/70/20.2%)
USO (13/67/16.7%)

Would probably go out to August here (54 days) ... . Looked at through the lens of what the short straddle is paying as a function of share price, it looks like I should be selling premium in XOP (20.2%), followed by EWZ (17.7%) and/or GDXJ (17.7%).


BROAD MARKET ORDERED BY RANK:

IWM (57/45/12.7%)
QQQ (38/32/<10%)
EFA (37/29/<10%)
SPY (37/34/<10%)

Small caps continue to be where the juice is at.


IRA DIVIDEND-GENERATORS

IYR (53/ 40 /11.7%)
XLU (50/33/<10%)
EWZ (47/63/17.7%)
EWA (46/ 40 /11.2%)
EFA (37/29/<10%)
SPY (37/34/<10%)
HYG (35/20/<10%)
EMB (20/18/<10%)
TLT (20/19/<10%)

EWZ offers both better better premium as a function of stock price than IYR at the moment, as well as slightly higher yield (3.66% for the former; 3.50% for the latter). Since I've already laddered out IYR , I may dip at the EWZ well with the 16 delta short put paying .70 in August at the 22 strike, .84 in September at the 21 ... .


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