STX releases early earnings snippet

Discussion in 'Options' started by barney-, Jan 9, 2013.

  1. barney-


    Well, this sucks. Had a iron condor on them. Was not expecting big movement (10%+) before January 28th the stated earnings.

    "Seagate Technology Announces Selected Preliminary Fiscal Second Quarter 2013 Financial Results"

    And it was good news, so stock jumps.

    The mini-report goes on to say:

    "Seagate will report full fiscal second quarter 2013 financial results on Monday, January 28, 2013 after the close of the market."

    Is this legal? Totally screws with traders making time-based bets!

    Black Swan!
  2. It does suck, but legal...... This is why I only do spreads on indexes.... SPX, RUT and NDX .... no one earnings or news release like this will cause such as significant impact.