Schlumberger's Stock Looking To Soar Ahead Of Q3 Earnings, Analysts Confirm Bullish Take

Schlumberger's Stock Looking To Soar Ahead Of Q3 Earnings, Analysts Confirm Bullish Take

Schlumberger NV SLB is scheduled to report its third-quarter results on Wednesday.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Schlumberger traded more than 3.8 times its average daily call volumes on Monday.

Check out other stocks making moves in the premarket.

There was a buyer of more than 55,000 of the October weekly 46 calls at an average price of about 31 cents per contract, Khouw mentioned. Traders expect Schlumberger’s shares to continue rallying ahead of the earnings report, he added.

Analysts are also bullish on the stock, with four giving SLB a Buy rating, and three have an Overweight rating on the stock, according to Benzinga data.

SLB Price Action: Shares of Schlumberger gained 1.56% to settle at $38.97 on Monday.

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Posted In: CNBCMichael KhouwOptimize AdvisorsLong IdeasOptionsMarketsMediaTrading Ideas