options pricing in a range of 425.63 to 484.43 for the release. that's a 6.5% implied move, not exactly wildly bullish or bearish.
i suspect that a minor bullish quarter could drive this higher than the options implied, unlike previous quarters where a bigger surprise was needed.
tomorrow's r3 is 486.00, so that's nearly inline with the options top range and the s3 level is 416.88, which is nearly 2% lower than the 425.63 implied by options. so, the market is showing a bullish hand.
paul
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