Using a broad sample of earnings announcements, we find that option call and put implied volatilities become increasingly misaligned as the earnings announcement dates (EAD) get closer. The percentage deviation between call and put implied volatilities increases monotonically in the one-month...

Both behavioral biases and informational advantages can drive insider trades. We first document that U.S. corporate insiders anchor on the 52-week low (high) for stock purchases (sales). We then find that insider trades made when the stock price is far away from its anchor levels are more...