Aldeyra Therapeutics, Inc. ALDX
The big standout from yesterday morning’s premarket report turned out to be ALDX, which initially drew our attention with an abnormal volume signal, and the release of positive Phase 2a study data for a Dry Eye Disease treatment.
The stock recorded a continuously bullish pattern throughout the day, trading in an impressive range. From it’s early morning low of 6.60, the stock reached a high of 11.05 just prior to the closing bell. That’s an increase 67% on the day, on more than twenty times the monthly average volume. It also easily took the top gainer spot on the NASDAQ board for the session.
ALDX increasing in value by two-thirds in a single session worked well for us yesterday, but such moves also rare and often unsustainable events. It’s difficult to imagine a scenario where the stock doesn’t undergo a consolidation in the session or sessions to come.
Macy’s, Inc. M – Options Review
We want to swing back around for a recap of the performance in a set of Macy’s calls we made a few weeks ago as a longer-term options idea. Typically, when a stock seems set for an extended rebound, we’ll signal contracts whose expiration doesn’t occur for a longer period of time. In this case we highlighted the
It worked out nicely, with M stock making a steady increase over these last few weeks that facilitated a move in those calls from .60-1.37, which comes out to a respectable gain of 128%
We also look for quick strike chances as well, and may have one with Mirati Therapeutics, Inc. MRTX today after the stock soared following the presentation of positive cancer trial data at a conference in Chicago.
We’ll be looking for a dip-and-rip pattern off of this morning’s significant premarket gap-up, and will be tracking the MRTX Weekly $7.50 Calls* and possibly even the $10′s if it appears as if MRTX wants to break that ten dollar barrier.
*Never attempt to trade weekly options on a Friday unless you are A.) An expert trader and B.) Have money you can afford to lose. It’s an extremely risky proposition.
LPTH, ARRY, MBOT, ATOS, RXII