SPX(SPXC) Schaeffers Investment Research·2024-12-26 16:19Core Insights - Walgreens Boots Alliance Inc (WBA) has significantly declined, dropping 63.9% in 2024 and reaching a record low of $8.08 on November 21, marking it as the worst-performing stock on the S&P 500 Index [1][4] - The stock has seen increased options trading activity, with 32,235 calls traded compared to 5,003 puts over the past two weeks, indicating a bullish sentiment among traders [2] - The upcoming fiscal first-quarter earnings report on January 9 is anticipated to be a pivotal moment for the stock, with the options market pricing in a 9.7% post-earnings move [4][6] Trading Activity - The elevated Schaeffer's Volatility Scorecard (SVS) of 95 out of 100 suggests that WBA has a tendency to outperform volatility expectations, which may attract premium players [3] - The 10-day call/put volume ratio of 6.44 indicates a rare skew in options trading, with short interest rising by 15.8% in recent reporting periods, potentially reflecting hedging strategies by short sellers [5] Historical Performance - WBA has a mixed history of post-earnings reactions, with a notable 15.8% increase following the October earnings report, contrasted by a 22.2% decline after the June report [6]