Can Paramount Stock Break Downbeat Post-Earnings Pattern?

PARA carries a 38.2% year-to-date deficit

Digital Content Manager
Aug 7, 2023 at 10:00 AM
facebook X logo linkedin


Paramount Global (NASDAQ:PARA) will step into the confessional after today's close to report second-quarter results. After bouncing from a May 23, three-year low of $13.80, the security got stuck between the $15 and $17 range, and now carries a 38.2% year-to-date deficit. Shares are still firmly below their 80-day moving average, but are up 1.1% to trade at $15.80, at last check.

The equity hasn't fared well after earnings lately, finishing three of its last five next-day sessions lower, including a 28.4% bear gap in May that eventually culminated in those aforementioned lows. PARA averaged a 9.5% post-earnings move in the last year, regardless of direction, but this time the options pits are pricing in a near-term straddle indication of 10.2%.

The brokerage bunch leans bearish, with 15 of 21 analysts in coverage calling the stock a tepid "hold" or worse. Plus, short interest rose 7.8% in the last two reporting periods, and the 77.49 million shares sold short now make up 13.5% of PARA's available float, or one week's worth of pent-up buying power.

On the other hand, the options pits are staunchly optimistic. This is per Paramount Global stock's 50-day call/put volume ratio of 5.94 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 95% of readings from the past year. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI