General Mills Stock Moves Higher After Earnings

The stock is brushing off a lower-than-expected annual forecast

Deputy Editor
Jun 29, 2022 at 10:15 AM
facebook X logo linkedin


The shares of General Mills Inc (NYSE:GIS) are up 4.2% to trade at $73.23 at last glance, after the Cheerios maker reported better-than-expected fiscal fourth-quarter results. The company lowered its full-year forecast, however, citing rising costs and weaker demand. 

On the charts, GIS isn't trading too far from its mid-May record high of $73.99, and stands  21.4% higher year-over-year. Plus, over the past couple months, the $65 level has provided a floor for pullbacks. 

Puts have been much more popular than usual in the options pits. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), General Mills stock's 10-day put/call volume ratio of 9.41 ranks higher than 96% of readings from the past year. 

Some of that pessimism could be unwinding, however. So far today, 2,771 calls and 1,726 puts have crossed the tape, with overall volume running at nine times what's typically seen. The July 72.50 call is the most popular by far, followed by the 75 call in the same monthly series. 

Analysts have yet to chime in, but there is plenty of room for upgrades. Of the 11 in coverage, seven carry a "hold" or worse rating on General Mills stock. 

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI