Month: March 2021

Wrapping Up Another Strong Trading Week

Snowflake Inc. SNOW – Options Review

In yesterday morning’s premarket report, there was a clear standout among our options ideas of the day. We had tagged the SNOW Weekly $247.50-250 Calls for observation following the company’s earnings drop. It was a release with mixed results, but that didn’t stop traders from pushing the stock as high as 279.45 on the session.

SNOW’s intraday move facilitated some fantastic numbers in our designated targets. The total possible gains were in the eight-bagger range, and were as follows: 

SNOW Weekly $247.50-250 Calls 
$247.50: 3.40-32.64 (+860%)
$250: 3.07-29.39 (+857%)
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Fresh Options Ideas*:
COST Weekly $320-315 Puts
AVGO Weekly $445-447.50 Calls
GPS Weekly $25.50-26.50 Calls
SPY Weekly $379-380 Calls 

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

For The Earth Corp. FTEG 

FTEG is a CBD play traded on the OTC that we tagged in yesterday morning’s extended watchlist, after noticing two of the company’s overdue reports were filed for the previous two quarters. FTEG is currently working toward coming current, and that represents progress toward that end, so that’s something we’re going to want to keep an eye on.

Whenever a defunct OTC stock goes current, the attention it brings can often drive some serious moves. We’ve witnessed many subpenny runners of late, and FTEG could get its chance, so we’re going to want to monitor this one closely over a longer period of time.

Extended Watchlist:
GRLF, INND, SANP, VPER, FORW, NSAV 

Trio of Fresh Options Targets & More

Ambarella, Inc. AMBA – Options Recap

In our premarket report yesterday morning, our lone earnings-based options idea on AMBA turned out fairly well for us very early on in the session. Those targets were the AMBA Weekly $118-121 Calls. 

The company exceeded expectations on earnings and revs, and along with optimistic guidance, propelled the stock on a huge PPS run from the starting bell that tapered off after the opening minutes. A quick trigger finger in the early goings could have provided the following potential gains in our designated range:

AMBA Weekly $118-121 Calls 
$118: 6.38-10.90 (+71%)
$119: 4.98-10.00 (+101%)
$120: 6.93-16.38 (+136%)
$121: 3.53-10.00 (+183%)
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Fresh Options Ideas:
SPLK Weekly $145-149 Calls
TCOM Weekly $39-41 Calls
SNOW Weekly $247.50-250 Calls 

Extended Watchlist:
AFPW, NWGC, ECOX, BLUU, INCT, FTEG, EEENF, QBAN, FRHV

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Subpenny Runner, Options Ideas

Nano Labs Corp. CTLE – Recap

At the top of our to-do list this morning is going to be CTLE, which we tagged for observation in yesterday morning’s premarket report. We include these Extended Watchlist plays nearly every day, and it’s always a good idea to add them to a watchlist on your own screens, as they often turn up hidden gems like this one.

CTLE recorded a low of .0044 before pushing up to a high of .0095, which represents an intraday rip of 116% The stock posted this performance on its largest single day trading volume in well over five years, with over a billion shares changing hands! With activity on this level, we’ll certainly want to continue to follow the CTLE chart as we head through midweek.

Ebix.com Inc. EBIX – Bottom Bouncer

We took notice of EBIX this morning on a routine scan, and discovered a very attractive bottom setup on the chart. As you can see on the included snapshot below, the stock fell off a cliff last month and has spent the past week establishing a new bottom.

This is exactly the type of setup we look for in a potential recovery play, with a base of support along with a massive topside gap on the chart. We’re going to add a longer-term options idea that would allow us to take advantage of any impending rebounds. We’re going to radar the EBIX 06/18 $40-45 Calls.

Fresh Options Idea:
AMBA Weekly $118-121 Calls

Extended Watchlist:
WSGF, PVDG, ALYI, HVCW, RDWD, VBNU, ABQQ