Morgan Stanley Stock Pops After Earnings Beat

The bank stock has reclaimed some of yesterday's losses

Deputy Editor
Jan 19, 2022 at 10:50 AM
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Big-name bank earnings are continuing to roll in this morning, and have struck a much more positive tone than yesterday. Morgan Stanley (NYSE:MS) stock is up 2.7% to trade at $96.55 at last check, after the bank reported fourth-quarter profits of $2.01, beating estimates by 10 cents, and revenue just barely below forecasts. The wave of recent mergers and acquisitions and subsequent deal advisory fees gave results a boost this past quarter. 

Today's positive price action has MS taking back a portion of yesterday's 4.9% drop, in which the stock closed below the 200-day moving average for the first time since September 2020. Year-to-date, the equity is still 1.7% below breakeven. It's also worth noting that Morgan Stanley stock's Relative Strength Index (RSI) of 32 is nearing "oversold" territory, meaning the stock could have been due for a short-term bounce. 

Lately, put open interest has been stacking up. MS' Schaeffer's put/call open interest ratio (SOIR) of 1.45 stands higher than 91% of readings in its 12-month range, implying short-term options traders have rarely been more put-biased. 

So far in the options pits today, 38,000 calls and 13,000 puts have crossed the tape -- four times the intraday average, with volume pacing for the 99th percentile of its annual range. The February 100 call is the most popular, followed by the 105 call in the same monthly series. 


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