By Dan Darrow
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.
Trader Author Portfolio Holdings
**As of the date and time of publication