Today, we're closing our bullish trade on Wal-Mart (WMT). WMT gapped higher this morning on an analyst upgrade from Citi -- citing the company's ability to compete with Amazon (AMZN). This move has WMT hitting our price target and hitting some resistance at $100. We think this is an excellent opportunity to take some quick profits off the table. We recommend exiting this trade today.
Take profits and 'sell to close' the WMT January 100 Call (WMT180119C00100000) at market.
If you haven't already entered the following and can still get in for a price below our recommended maximum, we still recommend entering:
- The MU January 45 Call (MU180119C00045000) for a maximum price of $1.80.
- The HYG January 87 Put (HYG180119P00087000) for a maximum price of $0.75.
- The NEE January 160 Call (NEE180119C00160000) for a maximum price of $2.35.
- The COP January 52.50 Call (COP180119C00052500) for a maximum price of $1.40.
- The TJX January 75 Call (TJX180119C00075000) for a maximum price of $2.15.