Dollar General Corp. DG – Recap
After a beat on sales and profits for the quarter and a chart primed for a bullish move, we highlighted the DG Weekly $75-78 Calls and we’re happy to report that each and every one of the contracts contained within that range recorded huge intraday moves for us.
Regardless which set of the seven was chosen, multi-bag gains were there for the taking:
$75 Calls – Range: .92-3.10 – Max Gain: 237%
$75.50 Calls – Range: .64-.2.22 – Max Gain: 247%
$76 Calls – Range: .40-2.05 – Max Gain: 412%
$76.50 Calls – Range: .24-1.20 – Max Gain: 400%
$77 Calls – Range: .12-1.21 – Max Gain: 908%
$77.50 Calls – Range: .06-.80 – Max Gain: 1233%
$78 Calls – Range: .05-.45 – Max Gain: 800%
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Lululemon Athletica LULU – Fresh Ideas
Lululemon had an earnings beat of its own yesterday post-market, so we want to formulate some ideas for the LULU chain as well.
Not only is the stock gapping up on earnings, but like DG yesterday, the LULU chart was already looking like a bottom-play with premium potential. That’s why we want to formulate both a short and long term set of ideas for LULU options. The LULU Weekly $55-57.50 Calls*, to coincide with the immediate boost in activity off of these earnings, and the LULU 06/30 58.50-60.50 Calls in the event of a protracted recovery.
*We never highlight options with a weekly expiration on a Friday without an explicit warning. That should tell you how risky it can be. So if you’re not an expert trader, don’t even think about it!
Synergy Pharmaceuticals, Inc. SGYP
We also want to put SGYP on watch today after noticing that the stock is coming off of its 52-week lows. That’s always a chart setup that we’re going to look at, but in this case the lows followed shartly after the company producing positive Phase III data on its TRULANCE™ drug, which is already approved by the FDA.
We’ve included a chart snapshot here, and you can plainly see, the stock had been beaten back severely and is only just now beginning to mount a rebound.
Extended Watchlist:
DOLV, USRM, ICNB, ANW, CGG, ANTH