Hey Five Star!
I’m coming to you from New York City. Last night, I was on “Fast Money”, on the Options Action segment talking about what could potentially happen on Costco earnings today after the close.
This is pretty time-sensitive, so here’s my full analysis with video…
The unique part about Costco is that it’s such a bullish stock, one of my favorites! BUT, historically, it doesn’t do well on earnings.
It’s interesting because there hasn’t been a run into earnings, and it’s been stuck at the $295 area of resistance…. but, there are a ton of call buyers in this stock, telling me traders are very bullish.
But, just like when the put call ratio gets lopsided, the same can happen with an individual stock. So, what do you think? Do you think the call buyers are right, and Costco will trade higher? Or, do you think Costco will trade lower on earnings, giving us a potential buying opportunity?
Check out my CNBC segment for more by clicking the image below. Hit the like if you agree, and give me your opinion in the comment section below!
— Options Action (@OptionsAction) December 11, 2019