was a pretty good day though for people i hope? i wanted to make a 318/319 bull put on Fri close for 7/27 but i didn't because i was being a whining baby. I did sell the 318 puts on the dip early on in the day so that makes it 23/26 now. on to Wednesday.
@Twinstynct so it's actually not a bad buy despite losing steam. Just hope you didn't buy ATM. WMT seems rangebound 130-134 prior to ER but there is some risk here. I would say a retrace to the 21DMA is more likely than a continuation above 134 at this point. However, it's hard to say. The IV:HV = decent time to buy and those 135s are ~32.6% prob ITM. if the delta drops below .20 then you might have an issue but it's not a bad trade tbh. I will say that you probably should have done a 135/140 bull call. sell the 140s so that you could hedge some risk. a 5pt spread trades ~1.20 vs buying the 135s naked at 135.
@Twinstynct It also looks like that is a very active strike and there was a decent amount of trading for it today as well as that strike for other expirations. a decent mix between buys and sells, and unfortunately there were more sells at 135 for closer expirations. However that might line up well if we drop down to the 21DMA or 50DMA before expiration.
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