Walmart Options Fly Off the Shelves After Earnings

Options volume is running at eight times the intraday average

Deputy Editor
Feb 21, 2023 at 10:08 AM
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Blue-chip retailer Walmart Inc (NYSE:WMT) threw its hat into the earnings confessional this morning, reporting fourth-quarter earnings and revenue that beat Wall Street's estimates. However, the company's cautious outlook has the shares trading 0.8% lower this morning, last seen at $145.29.

Options traders are rushing WMT in response. So far today, 22,000 calls and 13,000 puts have already crossed the tape, which is eight times what is typically seen at this point. Most popular is the weekly 2/24 145-strike call, where new positions are being opened, followed by the 140-strike put in the same series. 

Digging deeper into the report, Walmart topped holiday-quarter expectations, thanks to budget-conscious shoppers' spending on food, gifts, and household items. Longer term, however, Walmart predicts same-store sales will fall well below analysts' forecasts, as consumer spend less on discretionary items.

The shares are today dipped back below $144 after five-straight sessions above the level. Walmart stock still sports marginal year-over-year and year-to-date leads.

 

 

 

 

 

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