ProShares Short VIX Short-Term Futures ETF (SVXY) – Recap
We had some positive jobs numbers which posted on Friday, and to go along with the direction of the market activity we were observing, we highlighted a range of weekly options contracts in the SVXY ETF.
Our targets were the SVXY Weekly $152-154 Calls and we did see some pretty good movement from plays in that range, which made appreciable moves on the day. Those total possible gains were as follows:
$152 Calls – Range: 2.34-3.91 – Max Gain: 67%
$153 Calls – Range: 1.86-3.54 – Max Gain: 90%
$153.50 Calls – Range: 1.61-2.28 – Max Gain: 42%
$154 Calls – Range:1.15-2.71 – Max Gain: 136%
ShiftPixy, Inc. PIXY
The Friday before last, we signaled newly-IPO’d PIXY for observation on its first trading day ever, and it also performed admirably during last week’s short trading week.
After starting at a price of 6.30 on Friday (06/30), PIXY began to run, and this past Friday it hit a high of 10.50. That’s a solid 66% upswing, which is quite impressive for a first week of trading.
This morning, we’ve seen our observed range on PIXY increase even further to 78% with the stock managing a premarket high of 11.20.
We’ll be anxious to pick up where we left off and continue to track this new stock as we head into a new trading week. Each new high it sets is a new all-time high, so there’s no telling where this ride will let off. As we mentioned last week, we’ll just continue to monitor the stock, looking for higher base levels of support to be established as we go forward.
We’re always looking for a good bottom play, and we have one with some potential in INPX, which tumbled last week after the company announced a hefty $6M public offering.
The offering was priced at 1.05/share and the stock is currently trading in the high-.60′s. We feel a return to at least the offering price would not be implausible.
Stocks coming off of recently-established 52-week lows have historically been good to us, so we want to place INPX on watch for a potential recovery.
AVEO, ATOS, HEB, KOOL, MSDI, PLX
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