SPY Options Recap
We have found tremendous success in options trading this week. We enjoyed multi-bag moves from contracts in the FB and GPRO chains early on, and yesterday, we saw the same success in our targeted SPY Calls.
The specific contracts we tagged for observation were the SPY Weekly $191.50-193 Calls and in addition to some healthy initial pops, we saw dip-and-rip patterns in every case providing for a second chance for huge intraday gains, which registered as follows:
$191.50 Calls – Initial Run: .49-1.01 – Gain: 106% – 2nd Swing: .27-.87 – Gain: 222%
$192 Calls – Initial Run: .67-1.27 – Gain: 90% – 2nd Swing: ..41-1.15 – Gain: 180%
$192.50 Calls – Initial Run: .49-1.01 – Gain: 106% – 2nd Swing: .27-.88 – Gain: 226%
$193 Calls – Initial Run: .33-.77 – Gain: 133% – 2nd Swing: ..19-.64 – Gain: 237%
Pretty much every options-trading idea we submitted in our reports this week worked out exceedingly well, so congratulations to any of our followers who enjoyed some of the same success. It’s a perfect example of why we like to mix options ideas in with the ideas we have pertaining to stocks. Be sure to stick with us into next week, when we’ll be sure to do it all over again!
Global Equity International, Inc. GEQU
This had certainly been one of our biggest standouts of the week in terms of equities. On Monday we flagged GEQU and subsequently observed the stock trading at a low of .021 that day. By Wednesday it had hit .036 (+70%), and continued to pile on the gains during yesterday’s session.
We noted the stock’s recent tendency to push to higher PPS levels despite bearing a chart which looks heavily overbought, and that trend continued with an intraday move from a low of .0355 to .044, a 24% percent jump. From Monday’s low, it marked a four-session increase of 110%
Again, when the momentum finally dies down, we’ll be looking to take advantage of a consolidation followed by a rebound.
Cherubim Interests, Inc. CHIT
CHIT is a stock that we’ve been tracking since last Friday, and despite trading sideways for most of the week the stock did end up making quite an appreciable move. We saw it rise from a low of .0016 and fall just a tick short of cracking into pennyland.
Yesterday’s high represented a three-session swing of 725% and the move came on nearly seven times the monthly average volume.
Extended Watchlist:
GDSI, VNTH, INCC, PPCH