Big Bearish Candle in WMT

BY LICIA LESLIE 

June 9, 2024

Hi Shoppers,

 

Friday’s action in Walmart (Ticker: WMT) created on big red bearish candle:

AND it is at the top of the pitchfork.

 

Very bearish.

 

Looks like it could trade down to $64 and possibly $63.20.

 

The Jun21 66 puts look like a nice purchase with an implied volatility of 13.12:

Use a close over $66.80 as your stop loss.

 

Trade Review

 

Roaring Kitty was trumped by the Gamestop (Ticker: GME) company announcing earnings early and offering new shares of stock.

 

Even his first live appearance in three years couldn’t rally the stock.

 

Will be interesting to watch where this one goes.

 

Thanks for Reading … See You Next Tuesday,

Licia Leslie

Licia Leslie

Head of Technical Analysis

pit profits

See what's hot at option pit

CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain

DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain

PFE May17 26 calls closed for a 66% win

OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain

OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain

Licia Leslie

Licia Leslie

Share This Article

About the Author

Licia Leslie

Licia Leslie

Former CBOE floor trader and CIO at Karman Line Capital. Author of ‘The Option Traders Hedge Fund’ with over 30 years of options trading experience.

Popular Posts

Categories

Stay Updated

Subscribe to our newsletter for daily trading insights

Upcoming Events

FOMC Meeting

2:00 PM EST

Earnings Season Begins

Pre-market

Options Expiration

Market Close

NFP Report

8:30 AM EST