The Information Content of Implied Skewness and Kurtosis Changes Prior to Earnings Announcements for Stock and Option Returns PoorSatisfactoryGoodVery GoodExcellent Be the first. (0 ratings) Log in to rate this article. CFA Digest August 2012 Source: CFA InstituteDean Diavatopoulos James S. Doran Andy Fodor David R. PetersonPriyanka Shukla, CFA (Reviewer) Read Abstract To determine whether earnings information is reflected in option prices before the actual earnings announcement, the authors examine higher-order moments of stock returns. They suggest that the results of their study offer profitable strategies for both stock and option portfolios. View more information Topics Derivatives : Options Markets and Instruments | Equity Investments : Fundamental Analysis (Sector, Industry, Company) and the Valuation of Individual Equity Securities Credits · About the CE Program 0 CE (including 0 SER) Record credits Credits recorded Members, log in to record your credits. Manage CE Credits Loading ...