WMT Options Signal Bullish Bias as Executive Shuffle Nears: Key Strikes to Watch for Friday Expiry

• WMT trades at $118.34, down 0.72% from $119.20 close
• Put/Call OI ratio at 0.845 (calls dominate, especially at $120-$125 strikes)
• Executive reshuffle and AI-driven retail strategy highlighted in recent news

Here’s what’s happening: WMT’s options market is whispering a bullish story. With calls outpacing puts by nearly 16% and heavy open interest at $120-$125 call strikes, traders are clearly pricing in upside potential. But the bearish puts at $90-$110 aren’t just noise—they’re a reminder that volatility could swing either way. Let’s break it down.

Bullish OI Clusters Signal Price Targets

Looking at this Friday’s options chain, the $120 call (WMT20260116C120) has 14,893 open contracts—nearly double the next strike. That’s not random. Big money is positioning for a push above $119.07 intraday high. The $122 call (WMT20260116C122) at 45,200 OI tells a similar story. These strikes align with Bollinger Bands’ upper boundary at $120.13, making $120.50 a psychological target.

But don’t ignore the puts. The $110 put (WMT20260116P110) has 17,869 OI, suggesting some hedging against a drop below $117.86 intraday low. No massive block trades today, so no whale moves to worry about—yet.

Leadership Changes Fuel Strategic Optimism

Walmart’s executive reshuffle isn’t just a name change—it’s a strategic pivot. John Furner taking the CEO role by Jan 31 signals a focus on Walmart Connect and AI-driven retail (their Gemini partnership is already getting buzz). Bernstein’s $129 price target isn’t just a number—it’s a floor for call buyers. The market’s pricing in growth from centralized platforms like Walmart+ and Vizio, which could boost margins.

Actionable Trade Ideas for Today

For options:

• Aggressive Play: Buy WMT20260116C120 calls at $118.34. Target $120.50 (Bollinger Band level) with a stop at $116.50.
• Conservative Play: Sell WMT20260123C124 calls next Friday. If WMT holds above $118, these could collect time decay while still profiting from a $120+ move.

For stock:

• Entry: $118.34 (current price) if support holds above $117.86.
• Target: $120.50 (Bollinger Band + OI cluster).
• Stop: $116.50 (below 1.5% drop threshold).

Volatility on the Horizon: Positioning for WMT’s CEO Transition

With earnings on Feb 19 and a new CEO in place by Jan 31, WMT’s next 30 days could be pivotal. The options market is already pricing in a $120+ ceiling by Friday, but the real test comes after the leadership shift. If the stock holds above $118, the $120-$125 calls will gain steam. If it breaks below $117, those $110 puts might get active. Either way, this is a stock with clear direction—and the data shows where the money’s moving.