$AAP Advance Auto Breakout Pre-Earnings

17 Agu 2020

AAP Advance Auto breaking out of a long term downtrend Friday on strong volume.

Earnings coming up this week - before the open Tuesday 8/18.
ORLY O'Reilly Auto Parts crushed earnings a couple weeks ago...many are expecting solid numbers from AAP.

Looking at options, open interest Put/Call ratio stands at 0.50 currently. Or in other works, for every put held in open interest there are two calls.
This week expiration specifically, there's a significant amount of ITM calls in open interest compared to almost no puts.

I expect we see $170 at a minimum this week if not higher.


Note: Educational, not investment advice.