Unusual Options Activity: Traders bet Walmart Inc. (WMT) Has More Upside Potential
Traders are betting Thursday that Walmart Inc. (WMT) will trend higher over the next two weeks. So far today, 1,556 contracts of the June 109 call have changed hands, against open interest of just 56 contracts.
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About Walmart Inc.
America's largest retailer by sales, Walmart operates over 11,300 stores under 58 banners, selling a variety of general merchandise and grocery items. Its home market accounted for 76% of sales in fiscal 2019, with Mexico and Central America (6%), the United Kingdom (6%), and Canada (4%) its largest external markets. In the United States, around 56% of sales come from grocery, 33% from general merchandise, and 11% from health and wellness items. The company operates several e-commerce properties apart from its eponymous site, including Flipkart, Jet.com, and shoes.com (it also owns a roughly 10% stake in Chinese online retailer JD.com). Combined, e-commerce accounted for about 5% of fiscal 2019 sales.