Charles Schwab Stock Brushes Off Revenue Miss

Overall options volume is running at triple the intraday average

Fernanda Horner

Digital Content Manager

Apr 17, 2023 at 10:48 AM

SCHW

Charles Schwab Corporation (NYSE:SCHW) is among the latest financial institutions to announce first-quarter results. While the bank name's earnings of 93 cents per share beat estimates, revenue of $5.12 billion missed analysts' expectations. Higher interest rates boosted income, but declining deposits hurt SCHW as the bank sector struggled last month.

Last seen up 2.4% to trade at $52.01, Charles Schwab stock still has a long way to go before closing a series of bear gaps that pushed it to a March 13, two-year low of $45. Shares are down 38% year-to-date, and trading well below their 20-day moving average.

Overall options volume is today running at triple the intraday average, with 108,000 calls and 55,000 puts across the tape. Most popular is the May 62.50 call, where new positions are being opened.

Short-term options traders have been more put-biased than usual. This is per the stock's Schaeffer's put/call open interest ratio (SOIR), which sits in the 84th percentile of annual readings.

Follow @Schaeffers

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*