Stock Markets July 24, 2026 02:09 PM

Disney options action concentrates on July calls as volume surges

Call buying dominates midday activity while select November multi-leg trades also drew heavy interest

By Leila Farooq
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DIS

Options activity in Walt Disney Co. accelerated through mid-afternoon, with total contracts traded reaching 74,329 by 1:30 p.m. New York time. Call options made up the bulk of the flow, and the July 24, 2026 $96 call was the single most-traded strike. Several multi-leg November positions also registered sizable volume. Disney shares were higher on the session.

Disney options action concentrates on July calls as volume surges
DIS
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Key Points

  • Total Disney options volume reached 74,329 contracts by 1:30 p.m. New York time, led by call activity (58,656 calls vs. 15,673 puts).
  • The July 24, 2026 $96 call was the most-traded single strike with 31,522 contracts traded and open interest of 1,249 contracts.
  • Multi-leg November 20, 2026 strategies, including a $95 straddle and a combined $95/$90 position, accounted for notable volume, indicating activity across both near-term and longer-dated expirations.

Options activity in Walt Disney Co. intensified by early afternoon, with total contracts traded hitting 74,329 by 1:30 p.m. New York time today, based on exchange data. Call volumes dominated the session, with 58,656 call contracts changing hands compared with 15,673 put contracts.

Among individual strikes, the July 24, 2026 $96 call was the center of activity, accounting for 31,522 contracts traded while showing open interest of 1,249 contracts. The July 24, 2026 $97 call also saw notable turnover, with 3,723 contracts traded and open interest of 1,845 contracts.

Traders also executed sizable positions in longer-dated November 2026 options. A November 20, 2026 $95 straddle - consisting of both puts and calls at that strike - recorded a combined 2,623 contracts. That breakdown included 1,312 calls, with the calls carrying open interest of 999 contracts, and 1,311 puts, which had open interest of 2,556 contracts.

Another multi-leg activity involving November 20, 2026 options at the $95 and $90 strikes totaled 2,028 contracts in the session. The components of that package were: 432 calls at the $90 strike with open interest of 5,899 contracts; 583 calls at the $95 strike with open interest of 999 contracts; 430 puts at the $90 strike with open interest of 7,151 contracts; and 583 puts at the $95 strike with open interest of 2,556 contracts.

Shorter-dated July activity included the July 24, 2026 $95 call, which recorded 1,638 contracts with open interest of 907 contracts.

Market quotes showed Walt Disney shares trading at $95.41, an increase of 2.77% on the session. Open interest figures are as of July 23 except where otherwise noted.


Market context

The midday trading snapshot highlights a clear skew toward call option activity in Disney paper, with concentrated volume at the July $96 strike and meaningful participation in multi-leg November positions. The data reflect the distribution of activity across both near-term and longer-dated expirations.

Methodology note

All volume and open interest figures cited are drawn from exchange-reported data available at the time of the session. Where open interest is referenced it reflects the counts provided as of July 23, except where a different date is explicitly indicated.

Risks

  • Concentration in a single near-term strike - heavy volume at the July 24, 2026 $96 call - could amplify short-term price sensitivity in equity or option-linked exposures (affects equities and derivatives markets).
  • Complex multi-leg November positions introduce execution and assignment risk for participants if implied volatility or underlying price moves unexpectedly (affects options market participants and institutional traders).

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