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Income Masters Trade Alert: CHWY

Chewy (CHWY) is expected to announce earnings after the close today. While I think the company will meet or beat expectations, the stock could sell off if Chewy misses Wall Street’s “whisper estimates.”

We currently own shares uncovered. Rather than hold through the announcement, I am recommending you sell your shares. This will result in a net debit on the position that we will carry over. I will recommend a new put to sell once the earnings dust settles that will reduce that net debit.

Current Stock Price: $80.16

Cost Basis: $86.80

Action: Sell shares at market

Net Debit: $6.64

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