Disney calls active including a large spread Tuesday
Disney calls active including a large spread Tuesday. The stock up 2% to $133.85 and 8.1K May 137 - 142 call spreads bought for 33c. The vertical appears to roll long calls down five strikes and, if so, expresses confidence that shares can rally further between now and Friday afternoon. 18.4K May 137 calls and 14.8K May 142 calls trade so far. May 135, Jul 145, and May 133 calls are next most active. Total volume lopsided more than 4:1 at 107K calls and 24K puts, with more than half of the activity in the May term and expiring in three days. Earnings reported last week, sending shares down 1% to $133.59 on Thursday. The company is presenting at MoffettNathanson 6th Annual Media summit and also announced today that it will assume full control of Hulu.