Walmart Stock Tumbles from Record Highs After Dour Forecast

Options volume is today running at 12 times the average intraday amount

Digital Content Manager
Nov 16, 2023 at 11:31 AM
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Despite beating earnings and revenue expectations for the third quarter, Walmart Inc's (NYSE:WMT) full-year forecast came in below analysts' estimates, as company officials expressed concern over the holiday quarter. According to the retailer, purchases slowed toward the end of October, as shoppers "leaned heavily" on promotions. At last check, WMT is down 6.4% at $158.88.

Today's bear gap has the security tumbling from yesterday's record high of $169.94. Now on track for its worst single-day percentage drop since July 2022, the stock is also slipping below support from its 140-day moving average, which contained an October pullback. WMT is still up 10.7% in 2023, however.

Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity sports a 10-day put/call volume ratio of 1.13 that stands higher than 94% of annual readings. This means options traders have been much more bearish than usual.

Drilling down to today's options activity, 98,000 calls and 88,000 puts have already crossed the tape, or 12 times the intraday average amount. Most popular is the November 157.50 put, followed by the 160 put in that same series, with new positions being opened at both.


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