Cameco Attracts Bullish Bets From Options Traders Ahead Of Earnings

Cameco Corporation CCJ is expected to report quarterly earnings on Aug. 2.

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said Cameco traded at 1.5x its average daily call volume, with calls outpacing puts by around 5 to 1 on Tuesday. Options markets are implying a move of around +/-5.2% by the end of the week.

Don’t forget to check out our premarket coverage here

There was a buyer of 1,000 of the Aug. 4 weekly 36-calls at an average price of 34 cents per contract, Khouw mentioned.

Traders expect Cameco’s stock moving higher through Friday’s close.

Analysts expect the company to report quarterly earnings at 10 cents per share on revenue of $355.27 million.

Price Action: Cameco shares fell 1.8% to close at $34.54 on Tuesday, and added 1.5% in today’s pre-market trading session.

Check This Out: Market Volatility Rises Sharply Following Earnings, Economic Data

Image: Cameco.com