Netflix, Inc. NFLX – Update
Our NFLX options ideas from Tuesday morning continued to provide us with excellent intraday gains to take advantage of yesterday, despite already logging moves ranging between 54-98%. Our target range, the NFLX Weekly $117-120 Calls, once again put up fantastic performances, regardless of which strike point was chosen.
Here are the total possible gains for yesterday’s session:
$117 Calls – Range: 2.19-5.59 – Max Gain: 155%
$118 Calls – Range: 1.43-4.70 – Max Gain: 229%
$119 Calls – Range: 1.03-3.87 – Max Gain: 276%
$120 Calls – Range: 1.07-3.09 – Max Gain: 189%
We’ve had a nice two-day run with these contracts and are ready to move on to the next idea, unless we see a dip-and-rip setup on the chart, in which case they would come back into play.
Banc of California BANC - Update
Our other options idea from yesterday also worked out in spades. We noticed that the stock had been absolutely abused on immaterial news the session prior, and took the chance to pounce with a signal on the stock for a possible bottom play, and both short and mid-term options ideas.
Those were the BANC Weekly $12.50 and $15 Calls and the BANC 11/18 $17.50 and $20 Calls, and with the exception of the $20′s which are still too far out of the money to have seen any appreciable upswing, they all did rather well.
Weekly $12.50 Calls - Range: .55-1.40 – Max Gain: 155%
Weekly $15 Calls - Range: .05-.25 – Max Gain: 400%
11/18 $17.50 Calls – Range: .15-.35 – Max Gain: 133%
With the stock appearing to gear up for another solid session, those 11/18 $20 Calls could join the rest of the group in making moves for us in upcoming sessions, so we’ll continue to keep a close watch.
Fresh Idea – American Express Co. AXP
We’ve got another post-earnings options idea to add into the mix this morning as well with American Express, which beat expectations and raised guidance on profits for the remainder of 2016. Accordingly, we’re going to want to track AXP Weekly $64-65.50 Calls.
Cannabis Stock Updates
Cannabis Science, Inc. CBIS – CBIS continued to push to new highs after our flag of the stock on Tuesday. After running 44% that day from .034 to .0489, we saw another solid round of gains yesterday. The stock traded in a range from .049 to .077, for a 57% intraday run and an overall increase of 126% over Tuesday’s low.
IMD Companies, Inc. ICBU – Also among the marijuana stocks that we’ve slated for observation was this one that was new to our reports yesterday, and put up a pretty good move for our first day of observance.
ICBU traded up from a morning low of .0039 and surged to .0056, for an intraday pop of 44%
Plandai Biotechnology, Inc. PLPL
Being added to the watchlist this morning is PLPL, as a momentum play. The stock has been on the move over the past couple of sessions, having cracked through key resistance points on heavy volume. If it can breach the 200DMA of .045, things could get even more interesting from here.
We’ll remain interested in this play provided it can hold support at or above .03 on any pullbacks.
AXPW, PNTV, MYEC, ENDO, DAN