Options Market Statistics: Disney Shares Fall, Options Pop Despite Earnings Beat, Improved Streaming Financials
News Highlights
$Disney(DIS.US$ shares ended 9.51% lower, with option volume of nearly 0.68 million contracts, and calls accounted for 69.8% of the volume. The $108 calls expiring May 10, 2024 were traded most actively.
Entertainment behemoth Disney fell Tuesday following its second-quarter results after reporting improved streaming financials and updating its earnings guidance.
Disney Earnings:
Disney reported a 30% increase in adjusted earnings, to $1.21 per share — marking a second straight quarter of slowing growth. Revenue rose 1% to $22.08 billion. The results cleared FactSet earnings expectations of $1.10 per share, but fell just short of the revenue forecast of $22.12 billion.
Disney raised its full-year adjusted earnings outlook to 25% growth. The company previously expected 20% growth, MarketWatch reported. The company also affirmed its expectations to move the streaming business into profitability for the fiscal year 2025. Yet, investors seemed more concerned with potential short-term challenges ahead, including a seasonally weak Q3 period for the streaming business and a slower pace for new movie title releases.
$Rivian Automotive(RIVN.US$ shares ended 0.77% lower, with option volume of nearly 0.55 million contracts, and calls accounted for 64.6% of the volume. The $11 calls expiring May 10, 2024 were traded most actively.
Rivian Automotive reported a worse-than-expected loss in the first-quarter as the company lost more than $38,000 per vehicle. Meanwhile, speculation ran rampant Tuesday that $Apple(AAPL.US$ was looking to partner with the EV startup.
$Intel(INTC.US$ shares ended 0.94% lower. Its options trading volume was 0.28 million. Call contracts account for 73.5% of the total trading volume. The most traded contracts are $36 strike price calls that expire on June 21st. The total volume reaches 33,731 contracts.
Unusual Stock Options Activity
There was a noteworthy activity in $Disney(DIS.US$, where multiple calls have topped volume to open interest ranking. The highest volume over open interest ratio reaches 108.6x with nearly 32,365 contracts.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, The Guardian, Bloomberg
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