Shares of Apple Inc. rose 0.1% in afternoon trading Wednesday, ahead of the technology behemoth’s fiscal second-quarter results due out after the closing bell, while options prices are pointing to a smaller-than usual post-earnings price move. An options strategy known as a “straddle,” which is a pure volatility play that involves the simultaneous buying of at-the-money bullish (call) and bearish (put) options expiring at the end of week, suggest a $4.74 move (about 3.5%) in either direction on Thursday in reaction to results, according to data provided by Options Research & Technology Services. Over the past 12 quarter, the average one-day post-earnings move in Apple’s stock has been $6.27 in either direction, according to ORATS, which would imply a 4.7% move at current prices. The stock has slipped 1.9% over the past three months, while the Dow Jones Industrial Average has gained 10.9%.
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