Adobe Gears Up For Thursday Earnings As Options Traders Go Bullish

Adobe Inc. ADBE is all set to report its quarterly earnings on Sept. 14, 2023.

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said Adobe traded around 1.5x its average daily call volume on Monday.

Options markets are implying a move of around +/-5% post the release of quarterly earnings, which is in line with its historic average.

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There were buyers of 2,255 of the September 562.5-calls at an average price of $14.16 per contract, Khouw mentioned.

Traders see Adobe’s stock moving higher through the September expiration.

Analysts expect the company to report quarterly earnings at $3.98 per share on revenue of $4.87 billion.

Price Action: Adobe shares gained 0.7% to close at $564.50 on Monday.

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