Snap, Inc. SNAP
After we signaled our interest in a range of SNAP calls yesterday morming, the stock turned in quite a performance. In fact, SNAP ended up being the top gainer on the NASDAQ for the session.
That activity paved the way for some excellent intraday moves for our designated contracts, the SNAP Weekly $16-17.50 Calls, which all more than
$16 Calls – Range: 1.15-5.00 – Max Gain: 335%
$16.50 Calls – Range: .93-4.38 – Max Gain: 371%
$17 Calls – Range: .50-4.00 – Max Gain: 700%
$17.50 Calls – Range: .45-3.51– Max Gain: 680%
We feel good about a continuation of the same kind of volatility we saw with SNAP yesterday, and will roll up our potential strike prices, and begin to monitor the SNAP Weekly $21-22.50 Calls as we finish out the week.
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Fresh Options Idea:
GrubHub, Inc. GRUB – Weekly $80-85 Calls
Twitter. Inc. TWTR – Weekly $31-33 Calls
Biocept, Inc. BIOC
We want to keep tabs on BIOC after the announcement of a public offering precipitated what we would consider an over-reactionary selloff.
The company raised a sum of roughly $14.8M after offering approximately 32M shares at an exercise price of .45, along with immediately exercise-able warrants to purchase another 32M shares at .50.
We would classify it fall to a new annual low of .30 yesterday as a kneejerk response, and with the stock being this heavily oversold, we’ll want to put this one on bottom-bounce watch immediately.
Extended Watchlist:
TEUM, SNCR, FOLD, SWN, GCAP, NETE, RIOT, ONTX