Disney Stock Inches Higher on Strong "Frozen II" Opening

The movie notched $127 million in box office sales for its opening weekend

The shares of Walt Disney Co (NYSE:DIS) are inching higher this morning, up 0.5% at $149.10 at last check, after "Frozen II'" collected $127 million in U.S. box office sales during its opening weekend -- making it the third biggestopening ever for an animated movie. The film's box office sales fell in line with analysts' expectations of $100 million to $140 million, and it's estimated sales will remain strong throughout the Thanksgiving weekend.

Since this month's strong earnings report and Disney+ launch had the stock gapping past former resistance at its 100-day moving average and $140 region, respectively, and subsequently notching a new all-time high of $150.63 on Nov. 14, the shares of DIS have consolidated just south of this area. And while the equity has lost steam just below this region, it's found its footing atop the $146 level, while boasting a roughly 36% year-to-date gain.

Analysts are eyeing a bit more upside for the stock, with the 12-month consensus target price coming in at $153.20 -- an untouched region on the charts. Most in coverage are quite bullish on the blue chip -- 11 call it a "buy" or better -- but there are still some holdouts, as four still say the stock is a "hold."

Bullish sentiment in the options pits has certainly picked up. In the past 10 days, over four calls have been bought for every put on the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits higher than 88% of all other reading from the past year, suggesting a bigger than usual appetite for calls of late. Already today more than 43,000 calls have crossed the tape within the first hour of trading, compared to only 6,280 puts, with the weekly 11/29 series seeing most the attention.