Trim WMT long exposure by 30-35% prioritizing execution at current levels ($112) or on a relief bounce into the $114-115 zone ahead of Aug 20 Q2 FY27 earnings, with a hard stop at $118.75 on the remaining position. Re-engage to higher weight only on a confirmed close above $118 post-print with P/E normalizing toward 30x, or trim further on an in-line beat with soft guidance; no tactical short overlay.