ESSA Forecast


Bullish Case: Insider buying and a low P/B ratio suggest ESSA is undervalued. The slight increase in IV indicates bullish expectations.[Yahoo][Helium][Helium]


Bearish Case: High implied volatility, especially in short-term options, suggests potential instability. Flat price action and moderate IV bias towards volatility.[Helium][Helium][Helium]


Potential Outcomes:

1. Appreciation (40%): Underlying value correction.

2. Volatility surge (35%): Short-term trading volume increase.

3. Decline (25%): Persistent low trading volume.[Helium][Helium]


Trading Oracle: Execute a bullish calendar spread using July and October 2024 calls at the $20 strike. Exploit current low near-term IV and anticipated price rise. Hold for 30-60 days. This approach captures IV collapse and delta gains very efficiently.


July 16, 2024


ESSA Bancorp Forecast

ESSA      ESSA Bancorp











Correlated Assets

Assets that tend to move strongly with ESSA



ETRN Forecast + Options Trading Strategies   ETRN  Equitrans Midstream (0.43)


VFC Forecast + Options Trading Strategies   VFC  VF (-0.06)


XLE Forecast + Options Trading Strategies   XLE  Energy Select Sector SPDR (-0.27)


LI Forecast + Options Trading Strategies   LI  Li Auto (-0.29)



Uncorrelated Assets

Assets with little price relationship to ESSA



VFC Forecast + Options Trading Strategies   VFC  VF (-0.06)


XLE Forecast + Options Trading Strategies   XLE  Energy Select Sector SPDR (-0.27)


LI Forecast + Options Trading Strategies   LI  Li Auto (-0.29)


ETRN Forecast + Options Trading Strategies   ETRN  Equitrans Midstream (0.43)



Anticorrelated Assets

Assets that tend to move strongly against ESSA



ETRN Forecast + Options Trading Strategies   ETRN  Equitrans Midstream (0.43)


VFC Forecast + Options Trading Strategies   VFC  VF (-0.06)


XLE Forecast + Options Trading Strategies   XLE  Energy Select Sector SPDR (-0.27)


LI Forecast + Options Trading Strategies   LI  Li Auto (-0.29)


ESSA News over Time





Click points to explore news by date. News sentiment ranges from -10 (very negative) to +10 (very positive) where 0 is neutral.






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