Stock options traders of social media giant Meta Platforms (META) are pricing in a large move ahead of today’s Q1 earnings report. With shares trading around $667.66 at the time of writing, the closest at-the-money strike is $667.50, where the call is priced at $24.60 and the put at $24.24. Together, that creates a straddle of $48.84, which equates to an expected earnings move of about 7.3%, or $126 billion. Based on this, traders are implying a post-earnings range of roughly $619 on the downside and $717 on the upside.
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Nearby strikes show a similar setup. For example, the $665 straddle is priced at $48.95, while the $670 straddle totals $48.62, which confirms that the options market is consistently pricing in a move near $49. Volume is active on both sides, with notable call volume at the 670 strike and solid put volume at the same level. However, open interest is especially high on the 665 call, suggesting traders are closely watching that area as a key level.
Overall, the options market is expecting volatility, not a clear one-way bet. The roughly 7% implied move shows that traders are preparing for a big reaction after Meta reports earnings. Since both calls and puts are seeing activity near the current price, investors appear to be positioning for either a sharp rally or a meaningful drop.
What Is the Price Target for Meta?
Turning to Wall Street, analysts have a Strong Buy consensus rating on META stock based on 28 Buys, five Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average META price target of $852.64 per share implies 27.1% upside potential.
