McDonald's Earnings: Traders Are Lovin It

McDonald's Corp MCD reported second-quarter earnings of $2.55 per share, beating Street expectations of $2.47 per share.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that McDonald's traded more than 3 times its average trading volume on Monday. The options market is implying a move of about 3.2% versus the average of 1.8% over the last eight quarters, he added.

Check out other stocks making moves in the premarket.

There were buyers of 7,137 of the July 25 weekly 265-calls at an average price of 28 cents per contract, Khouw said. Traders expect McDonald's stock to rally around 6% to close the week, he added.

Also Read: Dan Niles Sees 'Ugly Week' Ahead For Microsoft, Alphabet, Amazon And Apple: Which Tech Stocks Did The Fund Manager Short Ahead Of Earnings?

MCD Price Action: Shares of McDonald's rose by 1.84% to $255.12 on Tuesday morning.