Trade Alert: Doubling Down

Adding to a recent position

In a post last month, we opened a bullish options position in Wayfair (W 0.00%↑).

Since then, the stock has dropped another ~25%. Its short interest stands at 28%, and its RSI is again in the oversold range at about 28. In addition, two investment shops upgraded W yesterday, while UBS reiterated its buy rating (though it lowered its price target to $80). In lig…