Meta Attracts Big Bullish Bets From Options Traders After Strong Q2 Earnings
Portfolio Pulse from Lisa Levin
Meta Platforms, Inc. (NASDAQ:META) shares surged after reporting better-than-expected Q2 financial results. The company reported a revenue of $32 billion, up 11% YoY, beating the Street consensus estimate of $31.12 billion. Earnings per share totaled $2.98, also beating the consensus estimate of $2.91. The company saw a surge in options trading volume, with calls significantly outpacing puts. Traders expect Meta's stock to move higher.
July 28, 2023 | 12:46 pm
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Meta Platforms reported better-than-expected Q2 results, leading to a surge in its stock price. The company's options trading volume also increased significantly, indicating bullish sentiment among traders.
Meta Platforms' better-than-expected Q2 results have led to a surge in its stock price. The increase in options trading volume, with calls outpacing puts, indicates a bullish sentiment among traders, which could further drive the stock price up in the short term.
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