Option traders position themselves ahead of Walt Disney reports on 7/11, after the session

Over the past week, Walt Disney rose 1.8% ahead of Q3 data, which will be released tomorrow (Thursday) after the end of the session. The Disney + service is set to launch on November 12th.

Investor expectations are high for Disney +, considering that Disney shares are up 19% since the beginning of the year. Option traders position themselves with bullish positions, believing that the reports will be more than good, as well as the success of the company's new streaming service.

At the beginning of the session today, the trader sold 587 call options with a strike price at $ 135, ending November 22. The total value of the bet is $ 109,827.

Another trader later purchased 750 to the same call options at $ 135 with a strike on November 22 for a full size of $ 141,675.

Bets will be raised later. 1,421 call options were sold with a strike of $ 155, ending March 22, 2020. Subsequently, another trader bought 2709 call options with a strike of $ 135 ending November 22. Of the seven biggest bets today, five were call options bought close to either the ask price or put options near or to the bid price, which usually means a bullish bet. The other two call options were sold close to or at the bid price, considered as bearish positioning.

Now your question is, is Disney still on the rise?

Disney + is expected to launch on November 12 with prices lower than Netflix's monthly subscription of $ 7.99. Disney has said that the service will only distribute Star Wars, Marvel, Pixar and original Disney movies. A recent Bank of America poll shows that 27% of US consumers surveyed would subscribe to Disney +. The company also offers a $ 12.99 Disney +, Hulu and EPSN + bundle as Netflix's standard plan.

The deals today were not unanimous in nature, suggesting that option traders would rather expect a sell-the-news event when the reports go out. However, the big bet of $ 200,000 expiring March 2020 suggests a fundamental, long-term bullish bet that Disney + will impress investors with the number of its subscribers.

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