Topgolf Callaway Brands options imply 5.8% move in share price post-earnings

Pre-earnings options volume in Topgolf Callaway Brands is 6.6x normal with puts leading calls 13:2. Implied volatility suggests the market is anticipating a move near 5.8%, or $1.37, after results are released. Median move over the past eight quarters is 7.9%.