June, 2019 | Blue Horseshoe Stocks

Blue Horseshoe Stocks: Options Updates

MGM Resorts International Inc. MGM

On Monday morning, we issued a Form-4 alert on MGM after witnessing more than $75M in insider buying at a bottom pour in over the course of the previous three sessions.

We can usually have a fairly high rate of confidence that a stock in this situation will produce a rebound, and so far that’s just what we’ve seen. We signaled the MGM 08/16 $28-30 Calls for tracking, and so far, we’ve seen some pretty nice moves.

$28 Calls – Range: 1.09-1.80 – Max Gain: 65%
$29 Calls – Range: .96-1.32 – Max Gain: 38%
$30 Calls – Range: .68-.95 – Max Gain: 40%

There is plenty of time to continue to look after this idea, which could certainly produce further gains from this point forward.
_____

Turtle Beach Corp. HEAR

We also added a pair of options contracts to watch in the HEAR chain last Thursday, and while we also have plenty of time to realize added gains in this case as well, the early performance out of these has been noteworthy, especially the $15’s which have already recorded a multi-bag move.

HEAR 10/18 $12.50-15 Calls.
$12.50 Calls – Range: .60-.90 – Max Gain: 50%
$15 Calls – Range: .20-.50 – Max Gain: 150%
_____

FRESH OPTIONS IDEA:
Dave & Busters Entertainment Inc. PLAY 07/26 $40-45 Calls

Ocular Therapeutix, Inc. OCUL – Recap

We also wanted to quickly mention the performance of OCUL since we alerted on the stock last month. It has produced quite a dip and rip since that time, touching a low of 2.38 before running as high as 4.08. That marks a total possible gain of 71% in a span of just over three weeks.

Extended Watchlist:
NETS, TBLT, JILL, HSGX, FBIO, RIOT, INSY(Bottom-bouncer)

Blue Horseshoe Stocks: CHMJF Review

Chemistree Technology, Inc.
(OTCMKTS:CHMJF) (CSE:CHM)

We are circling back to revisit CHMJF this morning, a stock that we recently profiled operating in the cannabis space. Our regular followers are certainly aware of our predisposition toward the industry, as a thriving, relatively new market space that is setting up to flourish well into the future.

The company is actively pursuing the development of vertically integrated cannabis assets in multiple states, including the design and build-out of tens of thousands of square feet of greenhouse and processing facility space. The company has interests in both the retail and medical sectors, and in both flower and by-product form (e.g. CBD/Hemp Extract).

We previously commented on the incredible past year the company’s had in terms of executing its strategy of acquiring and developing assets in various areas of the cannabis business. That’s one of the primary draws for us in this case. at the end of last month, CHMJF management laid out what we can expect from the company in the next year.

First off, CHMJF plans to continue to seek out new opportunities in the Western United States, in addition to its Sugarleaf cannabis brand in Washington and prospective grow/processing operation in marijuana ‘hot zone’, Desert Hot Springs, California. It will also optimize the Sugarleaf operation through expansion of its existing facilities, slated for completion in August of this year. In terms of the California project, we’re looking at a slightly longer timetable, with the first greenhouse tentatively scheduled to go up in the 1st quarter of 2020.

We’re very interested to continue tracking the multiple irons the company has in the fire, but for the time being, we are also very interested in the technical setup of the chart.

The early spring brought solid moves for CHMJF stock, as it traded up from a low of .3145 in March, to as much as .597 in April. After a period of consolidation, the stock recently saw a low of .313, and has begun to show signs of another leg-up. After seeing that 90% move previously, we are very interested to see if CHMJF can mount another run of a similar or perhaps even more significant nature.

We encourage readers to launch their own due diligence into CHMJF, and also check out the following video presentation of the current CHMJF chart.

CHMJF VIDEO CHART:

_____

FRESH CHMJF NEWS:

VANCOUVER, June 10, 2019 /PRNewswire/ – Chemistree Technology Inc. (CSE: CHM) (US OTCQB: CHMJF) (the “Company” or “Chemistree”), is pleased to announce that its partner Applied Cannabis Sciences of New Jersey (“ACS”), is readying an Application under the new Request for Applications (RFA) program announced by the Department of Health on June 3, 2019. In total, the Department will seek up to 24 cultivation endorsements, up to 30 manufacturing endorsements, and up to 54 dispensary endorsements. As allowable, ACS will be applying for all three permit types, creating a vertically integrated model for the business. (>>Read Full PR)
_____

For More Information on CHMJF, visit:
chemistree.ca/

Blue Horseshoe Stocks: SPY Calls, More Options

SPY Review

After big success with SPY options earlier last week, we decided to roll up our strike prices and make another pass at an some options ideas on the fund to open things up this week. A reversal on plans to slap tariffs on Mexican goods is helping to fuel a push for the markets in early trading today.

Our ideas for Friday were the SPY Weekly $285-286 Calls, and we’re happy to report some huge single session, multibag gain opportunities came out of those calls for us.

$285 Calls – Range: 1.18-3.86 – Max Gain: 227%
$286 Calls – Range: .59-2.89. – Max Gain: 393%

In order to stay close to the action, we’re going to want to stick with bullish SPY calls and roll up our strike prices yet again to kick off a new trading week this morning. We’re going to radar the SPY Weekly $288-290 Calls.

MGM Resorts International Inc. MGM – Form-4 Alert

We always scan for new Form-4 submissions, and MGM is the latest subject of insider trading. A director of the company purchased over $20M in MGM stock three separate times last week. Between the buying from Wednesday, Thursday, and Friday, Keith Meister purchased in excess of $75M+ worth of his company’s shares.

That is no small series of transactions, and leads us to believe confidence on the inside at MGm is high that the stock can continue recover off of its recent relative lows. We’re going to signal some longer term calls to correspond with the situation and begin tracking the MGM 08/16 $28-30 Calls.

SPECIAL NOTE:

We urge readers not to miss out on any of our newsletters this week. We’ve got some plays in cannabis sector that are primed to heat up and we’ll be bringing those to you over the course of the week. You’ll definitely want to catch those, so make sure you’re scanning your inboxes each morning to get in on the action!

Extended Watchlist:
LJPC, AFH, KHC, CFMS, MELI, BYND, FTR, ZM