Bull Signal Could Trigger Disney Stock Pop

Options are cheap at the moment

Deputy Editor
Jun 17, 2024 at 1:31 PM
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Walt Disney Co (NYSE:DIS) is in the news today after "Inside Out 2" grossed $155 million domestically over the weekend. The stock is up 1.6% at $101.52 at last glance, and set to snap a four-day losing streak. The stock boats a 12.5% year-to-date lead, and there's reason to believe the shares could keep moving higher as DIS trades near a historically bullish trendline. 

The stock has come within one standard deviation of its 200-day moving average for the third time in the past three years. According to Schaeffer's Senior Quantitative Analyst Rocky White, DIS was positive one month later 100% of the time, averaging a 4.6% gain. A similar move from the stock's current perch of $100.89 would place the equity above the $105 level for the first time since early May.

DIS Chart June 172024

Now looks like a good time to weigh in with options. The stock is seeing attractively priced premiums at the moment, per Walt Disney stock's Schaeffer's Volatility Index (SVI) of 22%, which sits in the low 12th percentile of its annual range.

 

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