Dear BigDeaL Traders,

Yesterday, we entered a play on Walmart (WMT) ahead of earnings. WE bought its $70-strike September puts at $1.03 and set a +40% price target, or $1.45. This morning, WMT reported disappointing earnings and lowered its full-year guidance, and as a result, shares of WMT opened 2.9% lower. Our puts have surged to as high as $1.56 in early trading today and recently had a bid of $1.45. Take quick profits at $1.45 or higher. Congrats!

Jason


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