New Options Ideas
It is a relatively seldom occurrence that we will signal Puts when speculating over potential options plays, but we have our eyes on a couple of stocks that are exhibiting the proper conditions to do so this morning. What figures to be another slow day for stocks with regard to overall market conditions, could also help us along to some intraday opportunities on the bearish side of things.
Macy’s, Inc. M – Despite exceeding expectations for profits, Macy’s returned disappointing sales figures for Q3 this morning and as a result, is gapping down considerably in the premarket. Over the past few sessions, the stock has behaved in a similar manner, with an early gap-down leading to further losses, so in the event that the pattern repeats itself we’re going to be tracking the M Weekly $47-43 Puts for swing-trade possibilities.
Macy’s reports lower sales, trims profit forecast (Wed 8:37AM EST)
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Horizon Pharma plc HZNP – HZNP is taking a major hit in the premarket on some negative press that began circulating late last night. It represents a considerable hit to the company, and with such news being thus far untraded-upon, we’re going to be taking a look at HZNP Weekly $20-17 Puts.
Express Scripts cuts off pharmacy that sold Horizon Pharma drugs (Wed 8:02AM EST)
Extended Watchlist:
ADMD, BTHE, KWBT, TDEY, XBIO,