Chewy (CHWY) shares consolidating above the rising 8- and 21-EMA and just below a big volume node from March and April at $83. A move outside of June value and through $80 has room up to that key VPOC and then a big gap from $86.50 to $97.50. CHWY has seen some size call buying recently including over 4000 July $75 calls and 1,200 January $110 calls while the October $65 puts sold to open 3,500X. The $34.6B leader in ecommerce for pet supplies is coming off of a strong quarter with 31% growth in revenues and 31.6% growth in active customers.

Trade to Consider: Long the CHWY July $80 Calls for $3.40 or Better