Options traders are targeting VIK ahead of tomorrow's earnings report
Travel company Viking Holdings Ltd (NYSE:VIK) will report earnings before the open tomorrow, Nov. 19. The stock, which has only been publicly traded since May 1, 2024, finished its last two post-earnings sessions lower, including an 8.8% drop this past August. This time around, the options pits are pricing in a slightly larger next-day swing of 9.3%, regardless of direction.
Options traders are targeting VIK ahead of the event. So far, 2,314 calls and 1,588 puts have crossed the tape, which is already 8 times the stock's average daily options volume. The most popular positions are the December 45 put and December 50 call, with new positions being opened at both. The former is also the top open interest (OI) position.
On the charts, VIK is still trading near its Nov. 14 record high of $46.25 -- last seen up 0.7% at $45.66 today after a price-target hike from Stifel to $50 from $39. The stock has been steadily pushing higher since a breakout above long-term pressure at the $36 region in early October, now up 31% for the quarter.
Should the stock react negatively to its report next session, its "overbought" status won't help. VIK's 14-day relative strength index (RSI) reading of 81.6 ranks firmly in that territory, meaning a short-term dip is likely on the horizon.
