Chewy Option Alert: Fri $38 Calls Sweep (4) near the Ask: 2000 @ $0.71 vs 398 OI; Earnings 8/29 After Close [est] Ref=$37.97
Portfolio Pulse from Charles Gross
There has been a significant options activity on Chewy Inc. (CHWY) with a sweep of 2000 calls at $38 strike price expiring on Friday. This is against an open interest of 398. The company is expected to announce its earnings on August 29 after market close.
July 11, 2023 | 3:10 pm
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The significant options activity could indicate that investors are expecting a positive earnings report from Chewy Inc. on August 29, potentially leading to a rise in the stock price.
The large volume of call options indicates that investors are expecting the stock price to rise. This could be due to anticipation of a positive earnings report. However, it's important to note that options trading is speculative and doesn't guarantee a price movement.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100