Shares of Monster Beverage Corp (NASDAQ:MNST) are on the rise this morning, after the energy drink manufacturer trumped second-quarter expectations with earnings of $0.52 per share on revenue of $2.11 billion. It was the first time the company's quarterly net sales topped $2 billion. The record growth stemmed from Monster Beverage's flagship drink and strategic brands units, while its alcoholic beverages segment lagged behind.
Piper Sandler upgraded MNST to "overweight" from "neutral" after the results, citing increased confidence in the beverage name's growth potential. Plus, no fewer than five other analysts lifted their price targets.
At last check, the equity was up 7.6% at $65.39, after hitting an all-time high of $65.50 earlier in the session. If the momentum holds, it would mark the equity's best day in five years. Shares are now up 25.1% year-to-date, breaking above pressure at the $64 level that kept a cap on gains May-June.
Over the past-two months, calls have been much more prevalent, however. MNST's 50-day call/put volume ratio of 2.55 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 98% of readings from the past year.
In the options pit today, volume is operating at six times the average pace. So far today, 4,100 calls and 2,000 puts have changed hands. The most popular option is the August 65 call, with new positions opening at the August 65 put.
