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On CNBC's "Options Action", Carter Worth shared with the audience his analysis of Costco Wholesale Corporation (NASDAQ:COST).
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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He thinks the retail sector is going to continue to trade lower and he noticed that Costco held too well during the decline of the retail sector. The stock has broken its trendline and Worth expects it to drop another 10 percent. He would close a long position going into earnings.
Mike Khouw suggested a bearish options trade in the name. He wants to sell the January 230/240 call spread for $4.10. He is going to start to lose money if the stock trades above $234.10 and he can maximally lose $5.90. If the stock stays below $230, Khouw is going to collect the premium.