NEW YORK, Oct 12 - Options traders are braced for larger-than-usual post-earnings stock price swings for some U.S. banks, despite signs of cooling volatility in broader markets, options data showed.
The biggest U.S. consumer lenders are set to post higher third-quarter profits, in contrast with investment banks still facing a dealmaking slump, analysts said. Wells Fargo, which has been trimming its workforce since the third quarter of 2020, could cut more jobs as it aims to improve efficiency, Chief Financial Officer Mike Santomassimo said in September.
"The implied volatilities are relatively high in light of these companies' earnings history," Steve Sosnick, chief strategist at Interactive Brokers, said.
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