LinkedIn Corp. LNKD – Options
A week ago today, we formulated some options ideas for LNKD including a range of longer-term contracts for our watchlist, specifically August $220.00-230.00 Calls. This morning we wanted to give an update on the trading ranges of those contracts and the opportunities they have afforded us thus far.
08/21 $220 Calls – Range: 9.80-14.30 – Max Gain: 46%
08/21 $225 Calls – Range: 8.02-11.30 – Max Gain: 41%
08/21 $230 Calls – Range: 5.10-9.35 – Max Gain: 83%
We want to keep in mind that we essentially have all summer to continue monitoring these contracts. The swings we’ve seen up to this point could just be the tip of the iceberg, so we won’t let LNKD slip off of our radars. The stock has been on a steady rebound from recent lows since the end of May. We’ll be looking for it to continue to building the chart with higher highs and higher lows; key resistance is presently sitting at the 50DMA of 226.39.
Medican Enterprises, Inc. MDCN
We also need to remind our readers of a recent bottom-watch call we made in the form of MDCN. This cannabis-related play has appeared in our reports several times; most recently on May 26th. At the time we mentioned that the stock was searching for support after a months-long downtrend, and that we felt the possibility of a rebound was forthcoming.
While it took several sessions to occur, MDCN finally found its legs yesterday with an 85% swing from .0013-.0024. It closed with strength, maintaining more than 50% of its daily gains on heavy volume, so we’ll definitely continue to observe the action here for the possibility of a multi-day run.
TapImmune, Inc. TPIV
Another stock that we tagged earlier this spring has been making serious moves. Just to update, we tagged TPIV on April 16th and at the time the stock was trading below .20. Since then, it has increased more than three-fold, now pushing its way up into the mid-.80’s.
This stock could produce ample bounce-play opportunities when it finally does consolidate off of this latest run-up, so we’ll put it on closer watch into next week.
Extended Watchlist:
CTIC, BLDP, CYTX, MNKD, CANF