Canopy Growth Corp. CGC
One of yesterday morning’s fresh options ideas, the CGC 09/21 $30-40 Calls turned in a very nice intraday performance. Despite the stock posting a red candle on the day, the activity still provided us with some excellent chances to score a quick profit.
It stemmed from beverage giant Constellation Brands increasing its stake in Canopy by a whopping $4B. Here are the gains that were on the table as a result, making this another fantastic call on our part.
$30 Calls – Range: 1.76-3.81 – Max Gain: 62%
$35 Calls – Range: .56-1.50 – Max Gain: 40%
$40 Calls – Range: .16-.56 – Max Gain: 51%
Walmart, Inc. WMT
For today, some of the most promising options plays are likely to be in the WMT chain. The company posted a bigger Q2 sales boost than it has in a full decade. To correlate with the spike in attention and activity we are going to signal a range of calls to monitor into the end of the week.
We’ll be tracking the WMT Weekly $97-101 Calls, which should score some good opportunities on a likely dip-and-rip scenario this morning.
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