Uber Technologies will report earnings before the open on January 5
Uber Technologies Inc (NYSE:UBER) is preparing for its latest quarterly report, due out before the open tomorrow, January 5. Analysts appear optimistic ahead of the event, expecting earnings of 50 cents per share and year-over-year revenue growth of 18.2% to $11.74 billion.
Though UBER is up 15.7% year to date, the $70 level has kept a lid on on gains since the start of January. The shares also touched the overhead 80-day moving during today's rise, so there is plenty of potential resistance for tomorrow's earnings volatility. At last glance, the stock was up 3.7% at $69.95.
The equity's post-earnings history leans positive, with five of the last eight next-day moves ending in gains. This time around, the options pits are pricing in a 12.3% swing, regardless of direction, which is larger than the 6.6% move the stock has averaged over the last two years.
Call traders are picking up UBER ahead of the event. So far, 181,000 calls have been exchanged, which is double the call volume typically seen at this point. The February 80 call is the most popular, followed by the weekly 2/7 70-strike call, with new positions opening at the latter.
Calls have ruled the roost longer term as well. This is per the equity's 50-day put/call volume ratio of 3.15 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio ranks in the 94th annual percentile, indicating a heavy preference for calls versus puts within the past 10 weeks.