Costco Breaks Above 1,000; August 1,100 Calls Target 1,150
COST•In today's trading, Costco broke above 1,000 to reach 1,056 with strong positive volume trends. Options flow is concentrated in August 1,100 strike, trading near $27 for a potential move toward 1,125 or 1,150.
1. Price Breakout and Volume Trends
Costco shares surged past the 1,000 level to approximately 1,056, marking a breakout backed by strong trading volume. Despite concerns over higher interest rates pressuring retail margins, positive volume patterns indicate robust buying interest supporting the rally.
2. Options Strategy and Targets
Options flow is focused on the August 1,100 strike, about 5% out-of-the-money, with contracts trading near $27. Traders are positioning for a rise to 1,125 and potentially 1,150 by expiration, reflecting bullish sentiment on the stock’s medium-term outlook.
