Apple, KLA, Mastercard, S&P Global, Stryker: Earnings-Day Vol

Traders are preparing for bigger swings than usual in companies including First Solar and Paramount Global after their earnings, while they’re expecting smaller moves in AES and ResMed. Here’s a list of S&P 500 members reporting on July 31 for which the options market is over- or underpricing volatility relative to fluctuations on sessions following past results:

Here’s how the implied earnings-day moves of these companies fared in past earnings:

• Overpriced: Apple (5/8), Biogen (6/8), Builders FirstSource (5/8), Eastman Chemical (5/8), Exelon (5/8), First Solar (6/8), International Paper (5/8), Kellanova (5/8), Mastercard (6/8), Paramount Global (5/8), PG&E (8/8), Quanta ...