Shares of Oracle Corp (NYSE:ORCL) are up an impressive 35% to trade at $325.95, after the tech company announced that it expects its AI-powered cloud infrastructure revenue to jump from $10.3 billion in 2025 to $144 billion in 2030. The projected growth helped offset Oracle's lukewarm fiscal first-quarter results, as earnings matched estimates at $1.47 per share, while revenue of $14.93 fell just short.
On track for its largest single-day percentage gain since 1992, ORCL is riding a four-day winning streak to all-time highs, surpassing previous marks set in June and July. Since the start of the year, the stock is outperforming with a 101% lead.
As a result of today's bull gap, several analysts are chiming in with bull notes. No fewer than 10 securities issued price-target hikes, including J.P. Morgan Securities and Citigroup.
So far today, 386,000 calls and 344,000 puts have been exchanged in the options pits, seven times the average daily volume already. The most popular contract is the weekly 9/12 300-strike put, followed closely behind by the 350-strike call in the same series. Positions are opening at both contracts.
Ahead of today, options traders were more bearish than usual. On the International Securities (ISE), Cboe Options (CBOE) and NASDAQ OMX PHLX (PHLX), ORCL's 10-day put/call ratio sits in the 93rd percentile of annual readings.
Worth considering is that Oracle has tended to beat volatility expectations over the last 12 months. This is per its Schaeffer's Volatility Scorecard (SVS) of 97 out of 100.
