On April 29th we initiated a bearish trade in Walmart (WMT) when the stock was $66.66 targeting its q1 earnings report due tomorrow before the bell. We expressed this view by financing a May regular expiration …
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One of the worst performing stocks today in the S&P 500 (SPX) is Lowe’s (LOW). The home improvement retailer is down 6% on news that the company agreed to pay $2.3 billion for Canadian retailer …
Continue readingWe had a couple of retail trades gone wrong recently (TJX, LOW, COST) but this selling has allowed us to get bailed out a little in at least one of them. Costco. Here was the …
Continue readingEvent: Tomorrow before the open The Home Depot (HD) will report Q2 results. The options market is implying a 3.3% one day move, which is in line with the 4 qtr avg move. With the …
Continue readingHome improvement has been a bright spot in what has emerged as a fairly mixed domestic retail environment in 2015. The undisputed leader in the space has been The Home Depot (HD), a stock that is …
Continue readingIn case you missed it, recent U.S. housing data is pointing to a recovery, from this morning’s WSJ.com Housing Showing Signs of Recovering: Existing home sales rose at their strongest pace in five-and-a-half years in May, suggesting that …
Continue readingEvent: Best Buy (BBY) reports their fiscal Q1 results tomorrow before the open. The options market is implying about a 6.5% one day move vs the 4 qtr avg of about 5%.
Continue readingHeading into their Q1 results is morning, Kohl’s (KSS) was up 22% on the year, up 46% from its 52 week lows, and only down about 6% from the all time highs made in early April. The …
Continue readingGenerally, I look to experts to get direction on things in financial markets outside of my wheelhouse. That’s why this story from the WSJ this mornings was fairly enlightening on how to think of the …
Continue readingAs I mentioned in yesterday’s COO on the XRT trade, this structure is working well and we would probably roll the short put part out. Today seems like as good a day as any considering …
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