Abercrombie & Fitch will announce earnings before the open tomorrow
It’s both ‘Black Friday’ and earnings week for Abercrombie & Fitch (NYSE:ANF). The apparel retailer will announce its latest quarterly report before the open tomorrow, Nov. 26, and the shares are on the rise ahead of the event.
ANF was last seen up 3.7% at $157.62, extending last session’s 7.4% pop as it heads for a third-straight gain. The stock is trading at its highest levels since mid October, and just broke above recent pressure at the 100-day moving average on Friday. Year to date, the equity is up 79.2%.
The stock has a history of outsized post-earnings moves, averaging a 15.5% swing over the past two years, regardless of direction. Only three of these past eight moves were negative, though that includes a 17% drop this past August. This time around, the options pits are anticipating a 17.9% next-day swing.
Call traders have been targeting ANF ahead of the event. The stock’s 10-day call/put volume ratio of 2.54 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 92% of readings from the past year.