Consumer Staple Sees Bulls Position Ahead of Earnings
Colgate (CL) with 5000 August $80 calls bought $1.38 as July 77.50 adjust, already size bullish OI in August expiry looking for a rebound out of monthly value area as shares have been coiling near the 200 day EMA and yearly VPOC support at 78. The stock formed a bullish reversal candle Thursday and closed near highs. A move back over 79 can trigger a rebound back to 82-84 as the weekly chart is in a tight squeeze the past several months. CL reports earnings 7/29.