SPDR S&P500 (ETF) SPY – Options Explode
Yesterday morning we added a fresh options trading idea for the SPY chain, namely the Weekly $289.50-291 Calls and we are happy to report that not only was our idea spot-on, but the intraday gains made possible were rather eye-popping.
Here are the total possible profits that our readers could have snagged in a single session on the strength of our ideas, including an incredible NINE-BAGGER!
SPY Weekly $289.50-291 Calls
$289.50 Calls – Range: 1.10-2.61 – Max Gain: 137%
$290 Calls – Range: .73-2.29 – Max Gain: 214%
$290.50 Calls – Range: .52-1.75 – Max Gain: 237%
$291 Calls – Range: .15-1.51 – Max Gain: 907%
BBBY Weekly $13-12 Puts
Ocugen Inc. OCGN
We also want to provide a brief update on another recent call we made, with OCGN. We tagged this one for observation as a bottom-play this past Friday morning, and already we’ve seen a pretty good swing to the upside.
The stock has traded in a range from 1.22-2.04 this week, marking a respectable move of 67% We’ll be interested to see if it can continue to register new highs for us in coming sessions.
Sundial Growers, Inc. SNDL
We are seeing a very intriguing potential play on cannabis grower SNDL this morning. The recently-IPO’d stock has taken a bath in the two months following its first trades, having already been embroiled in a class-action suit. Yesterday the company showed that the claims of the lawsuit are essentially baseless, and the PPS began to recover.
We’re going to keep a close eye on the activity here in the days and weeks ahead, as the technicals of the chart are screaming upside potential at the present time. Not to put the cart before the horse, but we feel that a double from current pricing would not be out of the realm of realistic possibility.
TBSS, TPTX, OSTK, FOLD, ACST, AMRS, UUUU