Tracking Options Ideas
To continue following up with the pair of options ideas we started the week with, we’re glad to report that the opportunities kept flowing yesterday for the second consecutive session.
Tiffany & Co. TIF – Puts
We said we were looking for more downside on TIF despite the fact that its $65 and $64 Puts had already presented us with chances for gains ranging from 132-223% on Tuesday, and that’s just what we ultimately observed. In the first half of the day TIF shares plunged from the $62 range and briefly fell below $60 before it followed suit with the marketwide rally that occurred around midday.
Both the $65 and $64 Puts would experience impressive new highs as TIF was trending down in the morning. The $65 Puts, which we caught at a low of .51, rocketed as high as 4.80, marking a two-day swing of 841%. The $64’s managed to hit 4.10, which from our observed low of .56 on Tuesday represents a move of 632%
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Netflix, Inc. NFLX – Calls
On the flip-side of the coin we had NFLX Calls, which obviously struggled during the overall market’s morning dip, but then flourished when that epic mid-to-late-day rally kicked in. On Tuesday we had zeroed in on the $105-107 Calls and found opportunities for relatively modest gains in the 40%-range.
For yesterday’s report, we mentioned we’d be rolling up strike prices to the $110-112, and those ideas yielded intraday upswings of a much more significant nature:
$110 Calls – Trading Range: .53-2.94 – Max Gain: 454%
$111 Calls – Trading Range: .47-2.48 – Max Gain: 428%
$112 Calls – Trading Range: .40-2.10 – Max Gain: 425%
NFLX’s afternoon run fell just short of a significant psychological barrier at $110, reaching its daily high at 109.99. A break of the $110 price point would obviously spell more big moves for these NFLX contracts.
Other Notable Gainers
We were tracking both Pleasant Kids, Inc. PLKD and Goodrich Petroleum Corp. GDPM for the second straight day in yesterday’s report, and both stocks offered up modest, yet noteworthy intraday spikes.
PLKD traded in a range from .21-.31 for a 48% spike, while GDPM ran 30% from a low of .076 to .099. Both moves occurred on relatively average volume.
Extended Watchlist:
NNRX, DECN, LLLI, CWTC