Call Traders Eye Deckers Outdoor Stock Ahead of Earnings

Deckers Outdoor Corp (NYSE:DECK) is scheduled to report fiscal first-quarter earnings after the close on Thursday, July 23. According to Zacks Research, analysts expect earnings of $0.88 per share, representing a 5.4% year-over-year decline, on revenue of $1.02 billion, which would mark 5.4% annual growth.

DECK was last seen down 0.9% at $102.41 ahead of the event, heading for its fourth-straight loss. The shares have had a volatile 2026, currently down 1.2% year to date. 

Options traders are pricing in a 13.6% post-earnings move, nearly identical to the stock's 13.4% average post-earnings swing over the last eight quarters. DECK has closed five of its last eight post-earnings sessions higher, including a 19.5% pop this past January. 

Analyst sentiment leaves room for upgrades. Of the 24 brokerages covering Deckers, 10 carry a "strong buy" rating, while 12 maintain "hold" recommendations, and two a "strong sell."

The options pits, however, have been positioning much more aggressively for upside. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), DECK's 10-day call/put volume ratio of 4.83 ranks higher than 91% of readings from the past year, indicating unusually strong demand for bullish bets ahead of earnings.

Its also worth noting that the stock's Schaeffer's Volatility Scorecard (SVS) ranks at 92 out of 100. This means the security outperformed volatility expectations in the past year.