Seagate Technologies plc. STX – Options Recap
Although it would end up reversing and heading lower as the day progressed, STX did ride the bullish wave off of its healthy earnings beat for a solid upswing inside the first hour of trading yesterday.
That did facilitate a window of opportunity on the options contracts we were tracking, the STX Weekly $41-43.50 Calls. Traders who were quick on the draw yesterday morning could have taken away a piece of the following moves:
$41 Calls – Range: 1.78-5.28 – Max Gain: 196%
$41.50 Calls – Range: 2.00-4.48 – Max Gain: 124%
$42 Calls – Range: 1.99-4.50 – Max Gain: 126%
$42.50 Calls – Range: 2.11-3.45 – Max Gain: 63%
$43 Calls – Range: .86-3.00 – Max Gain: 249%
$43.50 Calls – Range: .78-2.77 – Max Gain: 255%
We did signal our hunch that there would be a reversal in-session and a corresponding idea for the Weekly $46 Puts in our live traders chat, and those ended up doing quite well also, subsequently running from .60-3.29 (+448%) as STX continued to consolidate into the close.
It’s another example of why we urge any of our readers that want to get in on our daily traders chats to get a Skype contact request over to username ‘stocksumo’. That’s all it takes, and you can stay up to the minute on changing ideas throughout the day, and submit some of your own!
Avinger, Inc. AVGR
The current situation with the AVGR chart has caught our eye this midweek as the stock reversed course this week after a steep and rapid decline. We’re seeing increased activity in the premarket and AVGR has pushed its way up regaining much of the ground it has recently lost.
Currently trading around the 3.00 mark, a return to its recent swing high from roughly a month ago would mean gains of up to 50% so we’ll be monitoring AVGR over coming sessions for a possible continuation of the recovery that is presently in effect.
Extended Watchlist:
ALKM, PNTV, RJDG, LEXG, EXAD, EEGI, GNBT,