The cloud stock is soaring after strong fiscal first-quarter results
Cloud stock Oracle Corp (NYSE:ORCL) is soaring to all-time highs today, following the company's better-than-expected fiscal first-quarter results. At last glance, the shares were up 12.5% at $157.39 -- earlier as high as $160.52. ORCL attracted at least 15 price-target hikes in response, including one from Mizuho to $185 from $170.
Options traders are rushing the equity as well. So far this morning, 130,000 calls and 99,000 puts have crossed the tape, which is already 17 times the stock's average daily options volume. The weekly 9/13 160-strike call is the most popular, with new positions being opened there.
Now might be a good time to weigh in with options, too. ORCL's Schaeffer's Volatility Scorecard (SVS) of 90 out of 100 means it has exceeded options traders' volatility expectations over the past year.
Oracle stock finished its last four weeks with gains, and is today pacing for its biggest single-day percentage gain since June. Plus, the shares are on track to conquer pressure at the $145 region, which has been in place since July. So far this year, ORCL has added roughly 49%.