The Walt Disney Company DIS is expected to release quarterly results after the closing bell on May 10, 2023. Analysts expect the company to post quarterly earnings at 93 cents per share on revenue of $21.79 billion.
On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said options markets are implying a move of around +/-6% by the end of the week, compared with the average 5.6% move the company has recorded over the last eight reported quarters.
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There were buyers of 5,700 of the May 12 weekly 97-puts at an average price of 95 cents per contract, Khouw mentioned.
The trader expects Disney’s stock to drop at least 6% by the end of this week.
On Monday, Morgan Stanley analyst Benjamin Swinburne maintained Walt Disney with an Overweight and raised the price target from $115 to $120.
Price Action: Disney’s shares fell 0.8% to close at $102.18 on Tuesday.
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