More Bearish Options Plays

Options Review:

The markets slid once again to start yesterday’s session as we suspected they may, and despite recovering into the close, we had plenty of time and opportunity to profit off of the bearish slate of options ideas we put forth in our premarket report.

Our target plays that produced in the session were the SPY 05/19 $409-407 Puts and the LOW Weekly $192.50-187.50 Puts. We saw some good afternoon activity with the following intraday runs:

SPY 05/19 $409-407 Puts
$409: .33-1.70 (+415%)
$408: .13-1.05 (+707%)
$407: .07-.60 (+757%)
_____

LOW Weekly $192.50-187.50 Puts
$192.50: 3.30-6.65 (+102%)
$190: 2.08-4.62 (+122%)
$187.50: 1.22-3.06 (+151%)
_____

Fresh Options Ideas:
KSS Weekly $58-56.50 Puts
RL Weekly $130-125 Puts
CSCO Weekly $50.50-49 Puts

International Consolidated Companies, Inc. INCC – Recap

We also want to talk about INCC for a moment, following its big run to new highs. We’ve been tracking this play since the morning of April 6th, and it has made some impressive swings.

Following our flag last month the stock ran 100% from .0018-.0036, and subsequently consolidated back down to .0017 before hitting its new high of .0061 yesterday, which represents an upswing of 259% We’ll be looking for it to hold .0037, above the previous swing high on any pullbacks.

Extended Watchlist:
DSCR, SEEK, UATG, BYRG, FWDG, AERS, MNGG, QBAN, XTRM, RSHN

Tough Sledding for the Market, Related Ideas

The Home Depot, Inc. HD – Recap:

From our list of options ideas we were tracking yesterday, Home Depot was the primary trend-bucker of the day, as the markets in general had a tumultuous session, and appear to be headed for more of the same.

We were targeting the HD Weekly $322.50-327.50 Calls and they produced significant intraday gain opportunities shortly following the opening bell. Those trading ranges and potential profits were as follows:

HD Weekly $322.50-327.50 Calls
$322.50: 2.03-5.00 (+146%)
$325: 1.33-3.70 (+178%)
$327.50: .67-2.08 (+210%)
_____

Fresh Options Ideas:
LOW Weekly $192.50-187.50 Puts
SPY 05/19 $409-407 Puts*
TGT Weekly $215-210 Puts

*Please remember that trading options on their day of expiration should only be attempted by advanced level traders with access to disposable funds!

Try Our Premium Service!

We invite any of our recent subscribers to try our premium tier service, Veteran Trading. It’s a service where beginning-to-intermediate level traders can get more of the kinds of ideas you see here in our free newsletters each day and be given the tools to learn how to seek them out on their own and become a better trader!

The three levels of service that we are currently offering and the associated monthly fees (which can easily be absorbed by a single hot trade) are as follows:

– $75: Access to our private Telegram channel where we will be posting real-time trade ideas

– $125: Same as above, also includes video of new and archived bi-weekly classes

– $250: Includes all of the above + 30 minutes of 1-on-1 time with an expert each month

CLICK HERE to email us your contact information and a brief overview of your trading history and get enrolled today!

Extended Watchlist:
GGII, INC, VPER, RETC, RSHN, NSAV, BEHL

Big Name Earnings Plays & More

PureCycle Technologies Inc. PCT – Update:

We entered a longer-term recovery idea for the PCT options chain in yesterday morning’s premarket report on a purely technical basis, and it provided instant results.

It was exhibiting most of the classic signals we look for in a potential rebound play. Coming off of recently established lows, a MACD converging toward a bullish cross, a heavily oversold yet rapidly strengthening RSI, and a massive gap on the chart to the upside. You can see all of these indicators on the chart snapshot below.

We’ll continue to look for signs that PCT may continue the current trend off of last week’s lows which represented the lowest PPS for the stock in roughly 7 months. Here are the intraday gains made by our targeted options contract sets yesterday:

PCT 08/20 $15-17.50 Calls
$15: 1.88-2.80 (+49%)
$17.50: 1.25-2.10 (+68%)
_____

Fresh Options Ideas:
BIDU Weekly $192.50-197.50 Calls
WMT Weekly $142-145 Calls
HD Weekly $322.50-327.50 Calls

Nutranomics, Inc. NNRX – Recap:

We flagged NNRX in yesterday morning’s extended watchlist, which most often contains the majority of the OTC stocks we’re tracking on any given day, and the stock did end up putting forth a solid intraday performance.

It ran from a low of .0014 and went as high as .0033, which marks a daily push of 136%, and it occurred on volume of over three times the 30-day moving average.

Extended Watchlist:
APYP, MNGG, RGBP, BYRG, RETC, VMCS, ZONX, WRFX, EEGI