July 21, 2022

Intraday Update: WMT, KR

Let's lock in some more money on WMT. The stock has had a steady run over the past couple of weeks, with today's early rally sending it above 132. The Aug26 $132 - $136 call spread has moved up nicely, so the plan will be to close the current spread and roll up to lower debit Aug26 $136 - $139 call spread. The next target will be 135+. The bear portion of the strangle will remain open for now.

KR is finally breaking 47 support after a long stretch of sideways action, and the slide into 46 this morning is nailing the target zone for the Aug19 $47 - $44 put spread. The plan will be to lock in some gains on the position and roll down to a lower debit Aug19 $45 - $42 put spread. The next target is <45.

Open Positions

* The following Open Positions pertain to the Options In Play trade ideas from this and previous editions. Disclosure of the Trader Co-Author’s actual portfolio holdings, as of the date of each publication, is made below under "Trader Author Portfolio Holdings.".

Trader Author Portfolio Holdings

**As of the date and time of publication