Event#87tier 2live in productionNew

`buyback blackout reopen`

cadence: Dailydata: mediumlong shortlong onlyshort only

1995

#87 buyback_blackout_reopen — buyback calendar boundaries; extends Ikenberry-Lakonishok-Vermaelen 1995.

Mechanism

Firms with active repurchase programs are restricted from buying during ~30-day pre-earnings 'blackout' windows (SEC Rule 10b-18). Demand floor drops → small dip pre-earnings. Reopen post-earnings: program resumes → renewed demand floor → small drift up. Asymmetric small-edge family; best traded as overlay or sizing modifier.

Signal rule

if firm has active repurchase (8-K item 8.01 disclosure in trailing 24mo): short in [T-30, T-5] pre-earnings; long in [T+2, T+14] post-earnings.

Data dependencies

sec_8k_events
Item-coded 8-K events (1.01 material agreements, 4.02 non-reliance, etc.).
earnings_history
Worker data table — see services/worker schema.

Expected edge

Small but consistent — ~50-150 bps annualized; primary value is correlation diversification.

Illustrative pattern only

NOT a backtest

Illustrative pattern only — see /app for live backtests and the actual current equity curve.

Related families

buyback driftAccounting

Companies announcing open-market share repurchases earn ~3-4% abnormal return over the subsequent 12 months. Effect is strongest in "value-distressed" announcers (book-to-market in the top quartile, recent price

Explore `buyback blackout reopen` on alphactor.ai

See which tickers this family is currently firing on, with live signals and rankings.

Open universe with this filter →Browse all 93 families

buyback blackout reopen