Options Bulls Target Oracle Stock Before Earnings

Oracle Corp (NYSE:ORCL) is set to report fiscal fourth-quarter earnings after the close on Wednesday, June 10. According to Zacks Research, analysts expect earnings of $1.96 per share on revenue of $19.09 billion, representing year-over-year growth of 15.3% and 20%, respectively.

The software giant heads into the event with plenty of momentum. Shares have staged a dramatic recovery from their April lows, with investors continuing to focus on the company's cloud and artificial intelligence initiatives. Oracle stock hit a 2026 peak on June 1 and is up 18.5% year to date.

Options traders are bracing for a sizable post-earnings reaction. The options pits are pricing in a next-day swing of 15.6%, compared to the stock's historical earnings move of 13% over the last eight quarters. ORCL has closed five of its last eight post-earnings sessions higher, including a 9.2% gain following its March report.

Options speculators have been much more optimistic than usual ahead of the event. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), ORCL's 10-day call/put volume ratio of 5.40 ranks higher than 98% of readings from the past year, while its 50-day call/put volume ratio of 3.86 ranks higher than all other readings from the past 12 months.