Schaeffer's Top Stock Picks for '25

Walgreens Boots Alliance Stock Pops After Earnings

Call traders are targeting WBA after the event

Deputy Editor
Mar 28, 2023 at 11:01 AM
facebook X logo linkedin


Walgreens Boots Alliance Inc (NASDAQ:WBA) stock is enjoying post-earnings tailwinds today, up 3% to trade at $33.94 at last glance. The blue-chip pharmaceutical giant posted fiscal second-quarter earnings of $1.16 per share on revenue of $34.86 billion, which is higher than the estimated $1.10 per share and $33.53 billion.

On track for its third-straight day of gains after bouncing off the $32 level, the stock is still running into pressure at the $34 level. Plus, its 40-day moving average lingers overhead, a trendline that has kept a lid on the shares since the start of February. 

So far today, options bulls are taking charge in the options pits, with 13,000 calls -- four times the intraday average amount -- and 7,866 puts exchanged so far. The weekly 3/31 33.50-strike call is the most active contract, with new positions opening. 

This represents a shift in sentiment amongst options traders, as WBA's 10-day buy-to-open put/call volume ratio of 1.16 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 98% of readings from the past year. 

Analysts have yet to chime in, but could soon, with the majority pessimistic towards the security. Of the 16 in coverage, 13 carry a "hold" or worse rating. 

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?