Fair, wasn’t trying to extrapolate that sample group into all customers, just was bringing up what I had experienced. I agree with your point on tightening financial conditions and making it less likely for people to splurge on pet stuff.
Analyst downgrade came out this morning:
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Update on this ER play…
Follow the market trend yesterday…
CHWY bounced yesterday near its 2nd pivotal support line of 56.96.
It did poke 1 of the pivotal resistance lines and we may yet see a continuation of this uptrend tomorrow.
Resistances marked in purple.
Support lines marked in green.
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Reminder: if you’re up on your position and are unsure about holding through ER, there is no shame in cutting out your positions and riding the trend the next day. We have been wrong on ER before and it’s entirely possible we are right on our thesis but there’s no telling how the market will react. Always make sure you’re not playing with money you can afford to lose and focus on living to trade another day. Good luck all.
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$900k put premium on options flow.
I’ll personally be holding my puts through earnings but have bought some calls to hedge in case we get a repeat of $RH.
Thanks everyone for helping with this DD!
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