WMT - 5/15 expiry 110 strike PUTS - low risk
This monthly chart shows bearish divergence between RSI and price action. Zoom out on your own char and you will see WMT is still near all time highs (stock has not sold off). You can also see that stock dropped below 10sma and has come back up to test it.
On the weekly chart, stock found support at cloud and moved back up. You can also divergence between price and RSI. I think eventually the general economic downturn will also affect WMT.
The risk is low. If WMT continues higher, I exit these puts if stock goes over 120 (you can also set a second exit at 121). Otherwise, over the next few weeks, WMT may return to 108-103.
On the weekly chart, stock found support at cloud and moved back up. You can also divergence between price and RSI. I think eventually the general economic downturn will also affect WMT.
The risk is low. If WMT continues higher, I exit these puts if stock goes over 120 (you can also set a second exit at 121). Otherwise, over the next few weeks, WMT may return to 108-103.
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