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Took an entry on puts here, cost average 1.65 on the 104 strike February 25th.
I think it started out as a Kryptek “the price is too damn high” play, then JB joined in…
Took a position earlier feb 25 100 P when jb called out the entry at 105
Bought a feb25 put for fun
Earnings were not that great and their forward guidance was less than expected. Their cash balance also isn’t great and had a large pop due to covid sales. They said they are looking to acquire a regional or national company that has reach for medicare population aka more cash needed. If anyone else can add more to this that would be great. I will try tonight too.
Added to my position, cost average is now 1.70
They suck at filling my prescription and are constantly out of meds. My 1 cent
Kryptek just mentioned that CVS looked week and although getting out of my CVS calls slightly green was stressful, I took a look at this chart and from my rookie eyes I have to agree. Conq also joked about this play but did say that it was one he could give time to play out if he could.
CVS had been on a sharp uptrend since early December and peaked at almost 111. Since then, it’s been hemorrhaging downwards and volume has dropped off as well. Also, it’s EMA has crossed over since yesterday. it’s steadily holding this 102-103 support and then finds support again 101. but after that, it seems like it can easily fall to the 93.50 level.
I’m drawn to this trade because it’s a bit detached from Ukraine/Russia right now. how it reacts to FOMC tomorrow is something I’m watching. if it drops below 102 i might just take a further out gamble position in the 92.50 - 95 range.
I was playing puts on this a few days ago and they worked out, this ticker definitely seems to take its sweet time in picking a direction though.
As someone that is verrrrry heavy in cvs stock… it doesn’t move rapidly. It’s a dividend darling that’s finally now restarting share buy backs and increasing dividends since they’ve fixed their over leveraging from buying aetna.