McDonald's will report second-quarter results before the open on Monday, July 29
Blue-chip fast food name McDonald's Corp (NYSE:MCD) is preparing to enter the earnings confessional, with second-quarter results due out before the open on Monday, July 29. The company's results come after a deluge of disappointing Big Tech earnings, and MCD has a history of mixed post-earnings reactions.
Specifically, four of eight next-day sessions were higher, but shares fell 3.7% and 0.2% after the company's last two quarterly reports. The equity averaged a 1.8% swing in the last eight quarters, regardless of direction. This time, the options market is pricing in a bigger move of 4.4%.
Last seen 1% lower at $251.47, McDonald's stock could certainly use a post-earnings win, as it trades near its 2023 lows. What's more, MCD settled lower in four of the last five sessions, and now sports a 15.1% year-to-date deficit.
The options pits are overwhelmingly bullish on McDonald's stock. This is per the equity's 50-day call/put volume ratio of 1.72 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 81st percentile of its annual range.
Short-term options traders are similarly optimistic, per the security's Schaeffer's put/call open interest ratio (SOIR) that stands in the 13% of readings from the past 12 months.