Image Source: Pixabay

May the force be with Walt Disney Co (NYSE: DIS) ahead of its second-quarter financial report, due out after the close on Wednesday, May 10. Last seen down 3.3% at $97.54, now could be a solid opportunity to buy the entertainment giant's dip, as members of the Writers Guild of America (WGA) strike to obtain pay raises from Hollywood studios.

The $96 level has provided support for the shares since late March, and year-to-date DIS boasts a 12% lead. What's more, the security yesterday hit is highest level since March 6. 

Walt Disney stock has had a rough go in terms of post-earnings reactions lately. Shares finished five of the last eight next-day sessions lower, and averaged a move of 4.2% over the past two years, regardless of direction. This time the options pits are pricing in a much bigger-than-usual swing of 7.3%.

The brokerage bunch remains overwhelmingly optimistic, with 19 of 22 analysts in question calling the equity a "buy" or better. Echoing this, the 12-month consensus target price of $125.75 is a 29.2% premium to Walt Disney stock's current levels. 

A sentiment shift in the options pits could generate tailwinds for DIS. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day put/call volume ratio sits higher than 87% of readings from the past year.

Options look like a solid route to weigh in on the stock's next move. This is per DIS' Schaeffer's Volatility Index (SVI) of 40%, which ranks in the low 23rd percentile of its annual range. 

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