Energy Stock GE Vernova Eyes This Week's Earnings Call

GE Vernova Inc (NYSE:GEV) is scheduled to report third-quarter earnings before the open on Wednesday, Oct. 28. According to Zacks Research, Wall Street projects earnings of $4.03 per share on revenue of $12.30 billion, reflecting 145.7% and 21.4% year-over-year increases, respectively.

hares of the electric giant are up 5% to trade at $858.05 at last glance today. The stock is looking to snap a three-day losing streak as it rebounds from last session's six-month low, which found familiar support at the $800 level. GEV's 14-day Relative Strength Index (RSI) of 24.4 sits firmly in "oversold" territory after the pullback. Year to date, the equity is still up 31.3%.

Looking back at the last 10 earnings reports, GEV finished the following trading session higher 7 times, including a 13.8% pop in April. The stock has averaged a 2.5% post-earnings gain over this period, but this time around the options pits are pricing in a much larger move of 6.7%, regardless of direction. 

Puts have been more popular than usual. This is per the 50-day put/call volume ratio of 1.10 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 82nd percentile of its annual range. In the event of a positive report, an unwinding of pessimism could help to further lift the shares.