Intraday Update: WMT - T3 Live

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By Dan Darrow

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November 15, 2022

Intraday Update: WMT

Traders were nervous on WMT ahead of this morning's print (the stock dropped sharply into the close yesterday), but the fears were alleviated today following a strong beat-and-raise report. WMT is up $10+ this morning, and the stock is nearing 149 and the top of the Nov25 $145 - $149 call spread portion of the strangle. The plan will be to reduce risk on the short-term trade by closing the current call spread and rolling up to a lower debit Nov25 $150 -$ 152.50 call spread. The next target will be 150.25+, but we will also keep a close eye on the position the next couple of sessions. The Nov25 $137 - $133 put spread can be closed this morning as well.

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.".

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Trader Author Portfolio Holdings

**As of the date and time of publication

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Scott Redler, Derrick Oldensmith, and Patrick Hawe are associated members of T3 Trading Group, LLC (“T3TG”), a SEC registered Broker-Dealer & Member of FINRA SIPC. All trades made by Scott, Daniel, Derrick, and Patrick are placed through T3TG.

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