H & R Block Stock Soars to Record Highs After Earnings

The shares of H & R Block Inc (NYSE:HRB) are soaring to soaring to record highs today, up 17.4% at $67.48 at last glance, and earlier hitting a peak of $68.23. This jump comes after the tax services name reported better-than-expected fiscal fourth-quarter results, raised its full-year forecast, announced a dividend hike, and $1.5 billion share buyback plan. 

Headed for its biggest single-day percentage pop since May 2022, HRB is currently up 39.6% in 2024. Before today's bull gap, the 40-day moving average helped guide the stock higher over the last few months. 

Unsurprisingly, options traders are targeting the equity today. So far, 5,012 calls and 3,383 puts have crossed the tape, representing 24 times the HRB's average daily options volume already. Expiring today, the August 65 call is the most active, with new positions being sold to open. 

The bullish-leaning sentiment amongst traders today isn't unusual, as calls have been much more popular than usual over the past 10 weeks. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), HRB's 50-day call/put volume ratio of 1.48 ranks higher than 98% of readings from the past year.