Deckers Outdoor stock is headed for its fifth-straight post-earnings pop
Shares of Deckers Outdoor Corp (NYSE:DECK) are surging today, after the footwear name posted better-than-expected fiscal second-quarter earnings and revenue and raised its full-year guidance. Strong demand for the company’s Hoka brand gave results a boost, and no fewer than six analysts lifted their price targets after the event.
At last glance, Deckers Outdoor stock was up 12.2% at $170.63, on track for its fifth-straight quarter of post-earnings gains. Now trading at its highest levels since mid-June, the Ugg parent is up 53.5% year to date. The ascending 200-day moving average lingers below as support, too, capturing pullbacks since early August.
Over in the options pits, 17,000 calls and 6,488 puts have been exchanged so far today, which is already 3.5 times DECK’s average daily options volume. The weekly 10/25 185-strike call is the most popular, followed by the 172.50-strike call in the same series, with new positions being sold to open at the latter.
Options look like a good way to go when weighing in on DECK’s next move. The stock’s Schaeffer’s Volatility Scorecard (SVS) of 96 out of 100 means its tended to exceed options traders’ volatility expectations over the past year.