Dick's Sporting Goods Stock Hits Record High After Earnings

Options volume is running at 23 times the intraday average

Jake Scott

Deputy Editor

Mar 7, 2023 at 10:13 AM

Dick's Sporting Goods (NYSE:DKS) stepped into the earnings confessional this morning, and the results were better than expected. Specifically, the sporting goods retailer posted fourth-quarter earnings of $2.93 per share on revenue of $3.6 billion, while same-store sales more than doubling estimates with a 5.3% jump.

The security s seeing a massive surge in options activity. Within the first hour of trading, 14,000 calls and 9,403 puts have been exchanged, which is 23 times the intraday average volume. The most popular contract is the weekly 3/10 145-strike call, while new positions are being opened at the March 150 call.

DKS is surging, too, last seen up 7.4% to trade at $141.97, and earlier hit an all-time high of $143.90. Shares are headed for their fifth-straight win, and now boast a more than 42% year-over-year lead.

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