Costco Tests $950 Support as Pant Recommends July 24 950-955 Bull Call Spread

1 articles · Updated · CNBC · Jun 23

$950 is the key level in Pant’s setup, with Costco trading near $951 and rebounding from a support zone that previously acted as resistance.
Pant recommends a July 24 950/955 bull call spread—buying the $950 call and selling the $955 call—to target a limited upside bounce while capping downside risk.
The 1-contract trade costs about $250 and offers a maximum potential profit of $250 if Costco rises through the short strike by expiry.
Pant ties the idea to sector rotation, arguing money leaving high-flying tech could move into defensive Consumer Staples names such as Costco.