Ruby Tuesday, Inc. RT – Update
It was in our premarket report the Friday before last that we perfectly called the bottom on Ruby Tuesday, as the stock registered a new 52-week low of 2.08 that day. It spent last week pushing its way ever upward, reaching a high of 3.20 on Friday, which works out to an increase of 54%
The extended term options idea that we formulated, the RT 11/18 $2.50 Calls, have also broken out as a result. From the low of .05 on the morning of our first alert, to Friday’s new high of .60 represented an astonishing one week swing of 1100%
We’ll want to continue to keep ourselves abreast of the situation here as we kick off another trading week. We want to see RT continue to register higher support levels each day, and with plenty of time left until the expiration of those contracts, a sustained rally for the stock would mean more gains on the options side of things as well.
Hasbro, Inc. HAS – Options Idea
We’re seeing another potential options trading opportunity unfolding with Hasbro this morning on the heels of its premarket earnings beat. In this case, the stock has also recently come down to 6-month lows, and is approaching heavily oversold territory. As our regular readers are aware, we’re always on the lookout for plays of this nature. Our targets of interest will be the HAS Weekly $79-81 Calls, unless the stock breaks 81, in which case we’d roll our strike price up to match the activity.
Sipp Industries, Inc. SIPC
We want to tag SIPC for observation this morning after running across a new PR in which the company disclosed that it has retired 395 Million shares (>>View PR).
Additionally, the stock has been in the process of consolidating off of a recent run to nearly a penny, so we’re going to be on the lookout for a potential dip-and-rip scenario.
Extended Watchlist:
CTRV, NEON, ENZ, OMER, UBQU,
STOY(Bottom-Watch)