Walt Disney Co’s DIS earnings call, scheduled for after the closing bell on Wednesday, is in focus. Investors are pinning their hopes on Disney, after Netflix Inc NFLX reported its first subscriber loss in over a decade in April.
On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that the stock is trading about 1.4 times its average daily volume, with calls outpacing puts.
“Right now the options market is implying a move of more than 9% by the end of the week, after they report,” he added.
Also Read: I Am Iron Man: Disney CEO Compares Himself To Marvel Superhero
There were buyers of 3,600 of the September 115 calls at $7.70 per contract on average, Khouw mentioned. Check out other stocks gaining favor in the premarket.
The buyers of these calls are betting that the stock gains at least 14% by September, he said.
Disney shares were trading 1.18% higher during Wednesday's pre-market session at $108.95.
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