Procter & Gamble Co (NYSE:PG) stock is 3.6% higher to trade at $149.77 this morning, after the products manufacturer reported adjusted first-quarter earnings of $1.59 on $21.24 billion in revenue, both of which exceeded estimates. The Cincinnati-based blue chip also reiterated its full-year outlook.
P&G stock is building some distance from its year-to-date breakeven level, now up 4.7% for 2026. On track for its best daily performance since January 2024, the shares are now slated for the first close above the 80-day moving average since mid-March.
This morning there have been 19,000 calls traded already, five times the intraday average and triple the number of puts. The May 150 call is seeing the most attention, signaling options traders are betting on continued outperformance into May.
Calls traders have been circling since before earnings, per the stock's 10-day call/put volume ratio of 3.96 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits higher than 92% of annual readings.
