Walmart Stock Sees $2.48 Million Bearish Put Contract as Shares Hover Near 52-Week Lows

By TrendSpider Editor

A single unusual options contract worth $2,484,000 in premium hit the tape on Walmart Inc. (WMT), drawing attention from traders watching for institutional positioning signals. The contract is a put at a $115 strike expiring September 17, 2027, and it is currently in the money with WMT trading at $1

Walmart Stock Sees $2.48 Million Bearish Put Contract as Shares Hover Near 52-Week Lows

A single unusual options contract worth $2,484,000 in premium hit the tape on Walmart Inc. (WMT), drawing attention from traders watching for institutional positioning signals. The contract is a put at a $115 strike expiring September 17, 2027, and it is currently in the money with WMT trading at $110.40, well below that strike level. The stock is up just 0.25% on the session but remains far closer to its 52-week low of $98.88 than its 52-week high of $135.155, adding context to why downside protection is on the radar.

Key Drivers of the WMT Stock Move

• Main Catalyst: One unusual put contract was flagged today on WMT with a $115 strike, expiring September 17, 2027, carrying $2,484,000 in total premium. The open interest percentage change came in at a striking 806%, signaling that this position represents a massive surge in new activity relative to existing open interest.
• Bull Case: With WMT trading at $110.40, the $115 put is in the money, which means the contract could simply reflect a large holder hedging an existing long position rather than an outright bearish directional bet. A 806% OI surge could also indicate a newly initiated covered put strategy by an institutional player with a long-term stake in the stock.
• Bear Case: A single contract representing $2,484,000 in premium at a strike significantly above the current price, with an 806% open interest spike, is a notable vote of no confidence. With WMT already trading roughly 18% below its 52-week high of $135.155 and the put expiry stretching out to September 2027, this looks like a well-funded bet that pressure on Walmart shares could continue or deepen over the next year.

The forward setup for WMT is worth watching closely. The stock has been in a prolonged drawdown from its highs and has yet to show convincing signs of a sustained recovery. The size and duration of this put contract suggest at least one large player sees limited near-term upside and is willing to pay a significant premium for extended downside coverage through the fall of 2027. There were no additional call contracts flagged today, making this a purely one-sided flow event leaning bearish. Traders will want to watch whether WMT can hold above its 52-week low of $98.88 or whether this options activity is foreshadowing a retest of that level over the coming months.

WMT Unusual Options Activity

One unusual options contract was flagged on WMT today, September 23, 2026. Details are as follows:

• Type: Put | Strike: $115 | Expiry: September 17, 2027 | Volume (Size): 2,000 | Open Interest Change: 806% | Status: In the Money

Total premium on the flagged contract came to $2,484,000. No call contracts were identified as unusual during today's session, leaving the options flow entirely on the bearish side with zero calls counted against one put.

WMT Seasonality

Late September has historically been a transitional period for retail stocks as the market begins pricing in holiday quarter expectations, which can create volatility in either direction for large-cap names like Walmart. A bearish options position extending through September 2027 captures the full cycle of two holiday seasons, suggesting the buyer of this put is not focused on short-term seasonal swings but rather on longer-term structural headwinds.

WMT Relative Performance

WMT is up 0.25% on the session, a modest gain that trails the kind of momentum a stock would need to show to reverse its current downtrend. Trading at $110.40, the stock sits roughly 18.3% below its 52-week high of $135.155 and only about 11.6% above its 52-week low of $98.88, putting it firmly in the lower half of its annual range. This positioning relative to its range underscores why bearish options activity is drawing attention, as WMT has struggled to attract sustained buying interest at current levels.