Lowe's Stock Pivots to 52-Week Highs on Quarterly Win

Earnings and Revenue Performance - Lowe's Companies Inc reported a fourth-quarter earnings and revenue beat, but provided a disappointing 2024 sales outlook [1] - The company's stock erased premarket losses and was last seen up 2.9% at a new 52-week high of $237.70 [1] - Over the past 12 months, Lowe's stock added 16.7$230 level and on track to log their fourth daily win in five [1] - Support from the 20-day moving average came into place earlier this month [1] - Options volume is already running at eight times the intraday average amount, with 9,644 calls and 7,994 puts exchanged so far today [1] - The most popular option is the weekly 3/1 240-strike call [1] Bullish Betting Trends - The security's 50-day call/put volume ratio of 1.32 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits higher than 97% of readings from the past year [2] - This penchant for bullish bets has been the norm lately [2]