By Dan Darrow
August 17, 2022
Intraday Update: BJ
BJ's is scheduled to report results before the open tomorrow, and the stock is down marginally in late morning action. The bull setup was targeting a break of key multi-month resistance around 70 prior to earnings. The stock has struggled to sustain any traction above that level, though, and with it currently slightly under 69, the setup into the report is less clear. Retailers have had a mixed week of news, so instead of taking the added risk into the report, the BJ Sep16 $75 - $85 call spread will be closed today. If you'd like to take options into the print, just make sure to plan your size accordingly.
* 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