We signaled our interest in two sets of options ideas in yesterday morning’s premarket report, and we managed to see sizable intraday gain chances as a result of both of them. The total possible intraday gains for each play were as follows:
Target Corp. TGT - For Target, in the wake of an analyst upgrade, we highlighted the TGT Weekly $75-77 Calls.and saw some solid opportunities to profit.
$75 Calls – Range: 2.27-4.22 – Max Gain: 86%
$75.50 Calls – Range: 2.00-3.52 – Max Gain: 76%
$76 Calls – Range: 1.53-3.13 – Max Gain: 105%
$76.50 Calls – Range: 1.38-2.82 – Max Gain: 104%
$77 Calls – Range: 1.06-2.43 – Max Gain: 129%
Advance Auto Parts, Inc. AAP – We also were looking at the AAP chain following the company’s earnings beat yesterday. Our area of interest there was the AAP 06/21 $165-170 Calls, and those also fared extremely well. The $165′s ran from 5.25-9.00 for a 71% pop, and the $170′s traded up from a low of 3.00 and hit 5.80, an intraday upswing of 93%
With nearly a month remaining until expiration, and the stock still well below any areas of major resistance, we’ll be interested to continue tracking these plays.
BBY Weekly $69-70 Calls
WB Weekly $46-44 Puts
AMPG, EVRI, INNT, BLIN