Scotts Miracle-Gro (SMG) volatility elevated into Q3 miss

Scotts Miracle-Gro (NYSE: SMG) is recently down $3.40 to $37.99 in the premarket after reporting Q3 adjusted EPS $1.60, consensus $1.90. Buckingham Research Group say’s “Apparent secular slowdown in lawn.” Overall option implied volatility of 64 is above its 26-week average of 32 according to Track Data, suggesting larger price movement.

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