Walt Disney Readies for Hurricane Ian

DIS is set to snap a six-day losing streak today

Deputy Editor
Sep 28, 2022 at 10:21 AM
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Walt Disney Co (NYSE:DIS) announced its shuttering its four Florida theme parks and related properties, as Hurricane Ian -- recently upgraded to a Category 4 storm -- threatens the Florida peninsula. A spokesperson for the company said that on Wednesday and Thursday, Animal Kingdom, Hollywood Studios, Epcot, and Magic Kingdom would be closed, while some of its hotels in the region will be closed through Friday.

While the cruise stock sector has suffered amid cancellations and delays wrought by Ian, Walt Disney stock was last seen up 1.2% to trade at $97.03 at last check. The shares are on track to snap a six-day losing streak, but remain down 37.7% in 2022. 

Despite the steep deficit, options traders remain focused on calls. This is per DIS' 10-day call/put volume ratio of 2.07 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which indicates calls have outpaced puts by a more than 2-to-1 ratio in the last two weeks. 

Options traders are pricing in relatively low volatility expectations, as evidenced by Disney stock's Schaeffer's volatility index (SVI) of 43%, which ranks in the relatively low 33rd percentile of its annual range. In other words, options premiums are low right now, and the equity tends to outperform said volatility expectations, per its Schaeffer's Volatility Scorecard (SVS) ranking of 95 out of 100.

 

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