Walmart is poised for continued upside following a large institutional bullish position; breakout above recent highs targets gap fill near $117.

Walmart is one that deserves a lot of attention. Uh earlier this week, uh a huge vertical for December got flagged. Um it was 105,000 shares or contracts, I'm sorry. And that was coupled with a 1.9 million um share position.

So it was a very bullish trade. It was done pretty much in one tunch.

And we had talked about this because that turned into a $13 million call spread and the $1.9 million shares um was equated to, you know, a a multi00 position on the underlying.

And it just so happened the timing was perfect because look at the explosive move that ended up taking place. And then the follow through was yesterday.

So today it's actually poised to have a really nice breakout if it trades through uh yesterday's highs which is at 10880. And getting above 10880 allows the early price movement towards at least 110.

And then for me it looks like maybe even the gap fill would be the trader upside target with the potential of them having them kind of targeting uh upwards of 117s and you know buying that time in December but seeing the ability of a faster move.

Uh now someone had a good question and and just wondering like with uh Walmart because you mentioned you're looking at uh all AI stuff. Is Walmart considered like as part of it an AI stuff now or no? That was just a trade you were looking at.

instead of trying to, you know, buy uh Nvidia, AMD when they're melting down, instead people end up buying names like Apple, they'll buy Walmart, they'll buy Costco, they'll buy Target, and they tend to thrive in this environment, you know, um when when we see this like active amount of buying coming into play.