SPWH Sportsman's Warehouse Holdings Options Ahead of EarningsAnalyzing the options chain and the chart patterns of SPWH Sportsman's Warehouse Holdings prior to the earnings report this week,
I would consider purchasing the 5usd strike price Puts with
an expiration date of 2023-9-15,
for a premium of approximately $0.65.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
SPWH
SPWH has been on a YTD downtrend SHORTSPWH, a sports and recreational retailer had a bad week or two as seen on the 60-minute
chart. Reversion to the mean and the rubber-band perspective says that what goes down
must go up. SPWH has fallen into deep undervalued territory. It has been down trending for
most of this year. At the moment it might be correcting into a short trade or put option entry.
SPWH trend down might get synergy from the S & P helping entrench the trend down.
I will zoom into the 5-30 minute time frames and short SPWH from a pivot high. I may take
a large number of shares and then hedge the position with a couple of call options above the
current money with an expiration of 4-6 week for purposes of risk management and insurance
against a reversal in the price action.