Advance Auto Parts - New Long Idea
Taking a position in commons tomorrow + leap call options
Kind of forgot about this name, and a name you probably don’t keep track of. But noted a massive call buyer just now on the 9/18/26 $50c for $8.59M. I am not going to pretend I know anything about the option flows on $AAP, but seems like size on a ticker that prob gets very little flow.
So I decided to just pull up the chart and my oh my, what a base… after getting clobbered, it’s been building a base for 3 years and to me looks very much like accumulation.
Anyway, I’ll be buying commons in my long term portfolio tomorrow and will explore some leap calls and see what that pricing is like. This is one I wanna get long and forget about as I can very much see price doubling from here.
Cheers!