Month: May 2020

SPY Puts Still in Play, New Ideas

SPY Review

The tides continue to ebb and flow, and our primary goal is to roll with them as best we can. This is just the concept we were illustrating yesterday when highlighting the imprtance of having a range of bullish and bearish targets on watch during such volatile times. The markets dipped in the morning, and recovered rather nicely throughout the course of the day.

That gave our updated idea on the SPY some traction early on in the session, with our targets posting some respectable moves: 

SPY Weekly $280-278 Puts
$280: 2.93-5.05 (+72%)
$279: 2.50-4.44 (+78%)
$278: 1.18-3.34 (+183%)

With the report on retail sales showing more than a 16% loss for the month of April, the market may head lower and push these gains up even further early on.

Fresh Options Ideas*:
DKNG Weekly $25 Calls
AMAT Weekly $54.50-53 Puts
ACB Weekly $7-8 Calls
CSCO Weekly $44-43.50 Puts

*Please do not trade weekly options on a Friday unless you are an advanced level trader with access to disposable funds! 

Markets Crashing, Bears Cashing!

Options Updates:

In these exceptionally volatile times, it’s always good to have both long and short targets, depending on which way the wind is blowing. With the help of yet another bloody day for the markets at large, the bearish ideas we’ve been tracking in MAR all week tacked on some impressive new highs, and the new CYBR Puts we added in fresh for yesterday’s report immediately went exponential.

In the case of MAR, these numbers represent 2-day swings, and for CYBR, we’ve got yesterday’s intraday ranges:  

MAR Weekly $86.50-85 Puts
$86.50: 2.80-11.72 (+319%)
$86: 2.70-11.27 (+317%)
$85.50: 2.20-9.07 (+312%)
$85: 2.13-10.00 (+369%)
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CYBR Weekly $107-104 Puts 
$107: 2.70-11.90 (+341%)
$106: 2.80-9.87 (+253%)
$105: 2.26-10.00 (+342%)
$104: 2.40-9.00 (+275%)

With the aforementioned winds once again blowing in a bearish direction this morning, we’ll keep an eye out for even more new highs in these plays. We’ll also add in a related idea for the SPDR S&P 500 ETF, and put the SPY Weekly $280-278 Puts on watch into tomorrow.

New Options Ideas:
EQM Weekly $15-17.50 Calls
JACK Weekly $65-60 Puts
ONEM Weekly $25-22.50 Puts

Extended Watchlist:
SEGN, HENC, SPOM, DECN, CIVX, BCII

MAR Puts, BSGM Updates

Marriot International, Inc. MAR – Update
–
The markets took a late dive yesterday afternoon, and as they plunged, it helped our bearish idea on MAR realize some nice new gains. We were just reporting on the MAR Weekly $86.50-85 Puts in yesterday’s report, with what were only nominal gains at the time. Today the figures are looking far more impressive.

Even after the company’s CEO somewhat brashly called MAR stock ‘a bottom’, traders did not agree as it took a considerable hit and headed lower. That produced the following opportunities in our targeted puts;

MAR Weekly $86.50-85 Puts
$86.50: 2.80-7.00 (+150%)
$86:2.70-6.60 (+144%)
$85.50: 2.20-5.02 (+128%)
$85: 2.13-5.97 (+180%)
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Fresh Options Ideas: 
ALC Weekly $55-57.50 Calls
PGTI Weekly $10 Calls
CYBR Weekly $107-104 Puts

BioSig Technologies, Inc. BSGM

We have been tracking BSGM pretty closely this spring, and the stock has put together an incredible performance. Subsequent to our alert of this play roughly 5 weeks ago on April 7th, it registered a low of 3.45/share. The company has been doing trials for potential coronavirus treatments with the drugs Merimepodib and Remdesivir.

After stacking gains on top of gains and essentially going up continuously with very few daily exceptions, BSGM arrived at a new high of 12.43 yesterday. That represents an increase of 260% in just over a month’s time!

We will certainly continue to track BSGM’s progress and keep our ears to the track for any further developments in the company’s quest for a viable COVID-19 treatment.

Extended Watchlist:
JCP, AGNC, HOG, HTBX, RTTR