The Walt Disney share has been struggling with its break-even level since the beginning of the year
Stocks soar this week, nabbing new records left and right. Some of the names making notable moves today include Elon Musks Tesla Inc (NASDAQ: TSLA), Snapchat parents Snap Inc. (NYSE: SNAP), and blue chip Walt Disney Co. (NYSE: DIS). Here’s a quick look at what’s moving the stocks of TSLA, SNAP, and DIS.
Elon Musk Tweet sends TSLA over major trend line
Tesla CEO Elon Musk never shied away from the limelight, making headlines last night and tweeted that he would list his SpaceX company as soon as cash flow was predictable. In a follow-up tweet, Musk also said he would “do” [his] It’s best to give preference to long-term Tesla shareholders. “In response, Tesla stock is up 4.9% to trade at $ 686.78 on its way to its 100-day moving average plunging for the first time since April 26th June outperformer has still fallen by 2.6% since the beginning of the year.
According to Schaeffer’s Volatility Scorecard (SVS) of 98 (out of 100), the stock appears to have been a good target for premium buyers last year. In other words, stocks have consistently made larger moves over the past 12 months than options traders have priced in.
SNAP Eyes highest in five months
This morning the Universal Music Group (UMG) reached an agreement with Snap to give Snapchat users access to UMG’s music catalog. In response, SNAP was last up 4%, trading at $ 69.14 on its way to its highest close on February 25th. Snap stock is now up 37.5% in 2021 and has bounced back from its 160-day moving average by mid-May.
Call traders are increasing their activity today. As of the last review, over 150,000 calls changed hands, a volume double the average intraday amount and almost four times the number of puts traded. At the top is the weekly 6/25 69 strike call, while the 70 strike call is closely followed in the same series.
Options bulls aim for big week for DIS
Walt Disney share is up 1.3% to trade at $ 177.67 although the specific catalyst is unclear. However, DIS is still staring at its break-even level since the start of the year as well as its descending 50-day moving average.
The call volume has increased today. More than 76,000 calls have already crossed the band, three times the average intraday amount. The weekly 25.06. 180-Strike gets the most attention, opening new positions here. That $ 180 level would mean DIS has passed its daunting break-even level since the start of the year.