This thread is for general discussion about COST stock.
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I took a monthly 550 put off this thread: COVID Valuation Removals: The Last Stand (Potential Swing Trade/Scalping Opportunities Discussion)
Currently up 20% but took the position with the intent of holding a bit longer.
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I have been informed that I’m holding a 560 put, not 550 
Took an entry on a monthly COST put here, 530 @ 8.10
I took 2 of the 5/20 530p at a $7.18 average. Probably won’t add to this position and will likely cut at least 1 of them before earnings.
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I’m currently bullish on a SPY rally, I’m watching for COST to correlate and then offer another entry for puts. Thus far my thesis from COVID Valuation Removals: The Last Stand (Potential Swing Trade/Scalping Opportunities Discussion) has seemingly proven correct and I agree with @rexxxar that there is probably more downside in this.
No positions in this at the moment.
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Thanks for the tag, boss! I’m sure that’s the reason why SPY 450 today.
Conq tagged me, yall. Strangle the entire market now.
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Let this be a lesson to us all: Listen to my forum posts, not my positions in the gambling challenge account.
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With consumer sentiment being down, housing market meltdown, and bearish macro I see a similar downtrend playing out for $HD. We are also seeing it hold that ~300 level that has held as support multiple times. Thoughts?
Is anyone else in COST this time around for earnings? I entered calls this past Friday when the price was around 410. I think the huge (nearly 50%) drop from its ATH a month ago is way too drastic and this earnings will be positive. It got dragged along everything else and then Targets poor earnings, but they are really different businesses. A better comparison would be to BJs, which did well.
Costco earns a lot through memberships, which are due for a price increase and is rumored to be announced this summer. They also sell gas, often the cheapest available in the area. Even selling it at a loss (which they have before) its getting people into the store and signing up for memberships. Costco’s e-commerce business is expanding and its the only store in my area that has been reliably stocked with everything I need. Even now with the nationwide baby formula shortages the one by me has it in limited quantities. They seem to be weathering supply chain issues pretty well, I know they even rented their own cargo ships and containers.
The P/E ratio remains high, though not as bad as at 600. Investor sentiment the company’s earnings release has 53% expecting an earnings beat. Consensus estimates are for year over year earnings growth of 10.91% with revenue increasing by 14.32%.
I started a DD on Costco last fall and played the last two earnings to mixed results. I think this price point offers an opportunity, will be playing my weekly up until earnings Thursday. I’ll be looking at add more to my otm further dated calls on any dips. If anyone has any thoughts, please add.
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COST was very good to me in the runup to earnings two quarters ago (I didn’t play last quarter). Seemed to benefit from pre-earnings IV increase. I’m going to look at calls tomorrow morning as long as there isn’t a broad market selloff. Very unlikely to hold through earnings, though.
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I’m bearish and have a $375p. I’m expecting a drop back to precovid levels. I feel COST is overvalued. I felt the same about TGT, and it dropped.
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Added to 6/17 500c position today, avg 2.06. My 5/27 450c I’m up 75%, bought 5.10 currently around 9. Looking good today, may add more.
Congrats!!! I got caught up in some stuff this morning and then couldn’t find an entry timing and strike I liked. It seemed heavily SPY correlated so I just ended up doing SPY scalps for a nice 2%.
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Sharing sales release here
Costco ER coming up September 22 after hours. Given the time until ER let’s talk shop and see if we can play the run up, as well as take advantage of the market trend leading up to Sept 22. Considering some of the macro events and dates that will impact the market such as CPI/PPI 9/13-9/14, FOMC 9/21-9/22 as well as quad witching 9/16. Some of these may impact price action but having a little time leading up to ER may be some great money to be had. And let’s go!
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Fully anecdotal but my local Costco is constantly busy. I’m there a few times a week at random times of the day. Carts are usually a hot commodity and the checkout lines are long. Parking is usually annoying as everything but the far back area is usually open.
If my Costco is like others, then people are spending a lot of money here.
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Hell yeah @tedro figure there some seasonality here as well given back to school, holidays and bulk sale retailers. Also have product getting pushed out for overproduction.
How does the chart look? I think it found a bottom at this level. Let’s focus on TA.
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