WMT Options Signal Bullish Momentum: Calls at $110 and $108 Dominate as RSI Hovers Near 62

• WMT trades at $104.85, down 0.45% from its 52-week high of $106.27
• Options data shows 4254 open interest at $110 calls (Friday expiry) and 2994 at $95 puts
• RSI at 61.77 suggests moderate strength, with 30D support at $102.46

Here’s the deal: WMT’s options market is screaming upside potential right now. Calls at $110 and $108 are hogging open interest, while the RSI and moving averages line up for a bullish breakout. But let’s dig into why this matters for your portfolio.

Bullish Sentiment Locked in OTM Calls

If you’ve been watching WMT’s options chain, you’ve noticed the call-heavy setup. This Friday’s $110 strike (WMT251128C11000) has 4254 open contracts—nearly double the next highest at $108. That’s not random. Big players are hedging a rally, likely eyeing the 30D moving average at $104.03 as a stepping stone.

The put side isn’t ignored, though. $95 puts (WMT251128P9500) have 2994 open interest, but that’s more about downside insurance than a bearish bet. The put/call ratio for open interest is 0.887, meaning calls dominate by 11%—a clear tilt toward bullish positioning.

No News, But Technicals Tell a Story

There’s no recent headlines to sway sentiment, which means the market is trading on pure technical flow. Think of it like a river: without rocks (news) to redirect the current, it follows the path of least resistance. WMT’s 50D/200D crossover and Bollinger Bands (currently at $105.77 upper) suggest a channel breakout is brewing.

Here’s the kicker: RSI at 61.77 isn’t overbought yet, but it’s close enough that a push above $106.27 (today’s high) could trigger a momentum cascade. Retail traders love chasing breakouts, and WMT’s volume of 8.9M shares today hints at growing participation.

Trade Ideas: Calls, Puts, and Precision Entries

For options players, the WMT251128C10800 ($108 call, expiring Nov 28) is a no-brainer. With 3979 open contracts, it’s the most liquid strike for this Friday. If WMT holds above $104.75 (today’s low), this call could see a 15-20% pop by expiry. For a longer play, the WMT251205C11100 ($111 call, Dec 5) offers leverage if the stock breaks above $105.77 (Bollinger upper band).

On the put side, the WMT251205P10400 ($104 put, Dec 5) is a smart hedge. With 3323 open interest, it’s positioned to catch a pullback if the 30D support at $102.46 gives way.

Stock traders should consider entries near $102.74 (middle Bollinger band) if the 200D line at $97.86 holds. A breakout above $105.77 could target $108–$110, while a breakdown below $102.46 would aim for $100.

Volatility on the Horizon

WMT isn’t screaming for a moonshot, but it’s primed for a measured rally. The options data and technicals align: calls at $108–$110 are the sweet spot for upside, while puts at $104 offer downside protection. This isn’t a high-risk gamble—it’s a setup where the market is already pricing in a bullish bias.

Bottom line: If you’re in, target $108 as a key level. If you’re on the sidelines, watch the $102.46 support. Either way, WMT’s options activity is giving us a roadmap—stick to it, and let the data do the talking.