Walt Disney Co DIS shares hit a new 52-week high of $114.68 Thursday after moving higher in each of the past nine trading sessions — the Mouse's longest winning streak in five years.
Should investors buy the momentum? One Street analyst made the case for more upside during a CNBC "Trading Nation" segment.
The Analyst
Susquehanna Financial Group's Stacey Gilbert discussed Disney stock and the options market.
The Thesis
In the near-term, it appears Disney will emerge victorious over Comcast Corporation CMCSA to buy most of Twenty-First Century Fox Inc FOXA's assets, Gilbert said during the CNBC segment. This catalyst is being interpreted by the market as a sign of continued bullish sentiment for the stock, she said.
The options market is also sending a clear bullish signal, Gilbert said: Options investors are buying upside calls and aren't looking at just one maturity, but rather "several of them," with the focus being around the $120 strike. This would support an upside case for Disney's stock as high as $140 to $145, she said.
Investors looking to profit from expectations of continued momentum in Disney's stock may want to consider buying one call option and selling a higher call strike to minimize potential volatility risk, the analyst said.
Price Action
Shares of Disney were trading lower by 0.39 percent at the time of publication Friday.
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