Verizon Stock Falls Despite Earnings, Revenue Beat

Core Insights - Verizon Communications Inc. reported first-quarter adjusted earnings of $1.19 per share on revenue of$33.49 billion, exceeding analyst estimates, but experienced a larger-than-expected loss of 289,000 postpaid net phone subscribers, compared to the anticipated decline of 197,000 [1] - The company attributed the subscriber cancellations to inflationary pressures but reaffirmed its full-year guidance [1] Technical Analysis - Verizon stock has decreased by 2.4% to $41.92 and has lost 5.5% in the current quarter, approaching its year-to-date breakeven mark [2] - The stock has fallen below its 320-day moving average, indicating a potential bearish signal for traders [2] Options Market Activity - Options volume is currently at twice the intraday average, with 12,000 calls and 7,752 puts traded, indicating a slight preference for calls over puts [3] - The most active options are the weekly 4/25 44-strike call and 43-strike call, suggesting traders may be positioning for a short-term bounce despite the post-earnings dip [3] Sentiment Trends - Recent sentiment has shifted, with puts being bought at a faster-than-usual pace over the past two weeks, indicating a strong bearish tilt in positioning [4] - Verizon's 10-day call/put volume ratio ranks in the 89th percentile of its annual range, suggesting a potential change in sentiment if the current call skew persists [4]