3 Stocks Hitting Post-Earnings Highs

Options traders are targeting CMCSA and RCL

Deputy Editor
Jul 27, 2023 at 2:12 PM
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Today, 42 S&P 500 Index (SPX) members are hitting fresh peaks. Along with tech giant Meta Platforms (META), several of these stocks are getting a boost from their strong earnings results. 

Comcast Corp (NYSE:CMCSA) hit a 52-week high of $46.44 today, after the company posted better-than-expected second-quarter results. CMCSA overcame pressure at the $42 level earlier this month, and is currently on track for its third-straight week of gains. Year-to-date, the equity is up 30.4%. So far in the options pits today, the stock has seen 40,000 calls and 17,000 puts exchanged, which is four times the average daily options volume. The October 47.50 call is the most active contract, followed by the January 2024 45-strike call. 

Royal Caribbean Cruises Ltd (NYSE:RCL) is trading at its highest levels since before the pandemic, earlier hitting a more than three-year high of $112.08. The cruise line posted record revenue for the second quarter and lifted its full-year forecast due to strong travel demand. Options traders appear to be betting on a pullback, however, as 95,000 puts have crossed the tape so far, compared to 25,000 calls, with overall options volume already at eight times the average daily volume. The January 2024 60-strike put is the most active, with new positions being opened there. 

Homebuilding name PulteGroup Inc (NYSE:PHM) managed to snag a record high of $86.01 earlier today. The company posted strong second-quarter results on Tuesday, though several analysts didn't chime in with price-target hikes until today. In total, 12 firms lifted their price objectives, with the highest from J.P. Morgan Securities to $115 from $87. Headed for its fifth-straight day of gains, PHM is up 86% year-to-date. 


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