April is company preannouncement season and Goldman has a way to trade it

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These companies have a history of releasing preliminary results ahead of their official earnings date, according to Goldman Sachs.

Wall Street still has a few weeks before the next earnings season hits full stride, but options traders can try to profit off the preliminary reports that may trickle out in the meantime, according to Goldman Sachs. John Marshall of the firm's derivatives research team said in a March 27 note that earnings preannouncements have been a notable source of volatility in the opening months of 2024.

The airline appears to be particularly aggressive with its preannouncements. Delta has done so six times over the past two years, not just in April. And Delta's stock has shown that it can see big swings on earnings-related news. Shares fell about 9% on Jan. 12 when the company announced its fourth-quarter results and trimmed its 2024 forecast. The stock has since erased that drop, but the sharp one-day move likely created some winners among options traders.

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