SPY Options Recap
To close out the week on Friday, we floated a set of options ideas for the SPY, noting our immense success doing the same in the prior week. We decided to track the SPY Weekly $199.50-203 Calls.and a couple of the contracts within that range produced multiple intraday swings, giving sharp traders the chance at some tidy profits.
The $201 Calls first traded from .65-1.08 (+66%), and followed that up with subsequent swings from .45-1.05 (+133%) and .14-56 (+300%).
The $201.50‘s were the other set of contracts with the most notable moves. After an initial rip of 79% from .38-.68, there came a dip-and-rip from .24-.68 (183%) followed by a third, from .04-.16 (+300%).
AmbiCom Holdings, Inc. ABHI
Placing ABHI on our extended watchlist on Friday turned out to be a great call. It was the first time we had ever mentioned the stock, which just so happened to be showing signs of life coming off of a recent 52-week low; just the type of play for which we’re constantly searching.
The reason for that was on full display as ABHI dipped back to a low of .0102 before registering a HOD of .015. That was good for an intraday swing of 47%
Homeland Resources, Ltd. HMLA
We began tracking HMLA on Thursday and witnessed a healthy 59% pop from a low of .00189 to .003 which, of course, we mentioned in Friday morning’s report.
On Friday we were treated to an even more impressive spike from the stock, as it extended its highs much further inside of the first 35 minutes of trading. It dipped back only slightly to .0022 and proceeded to shoot like a rocket to a high of .0044. That marked an intraday run of 83% and a two-session swing of 133% over our observed low on Thursday.
Esperion Therapeutics, Inc. ESPR
ESPR is a stock we’ve been familiar with in the past, and for the multiple reasons we’ve pointed out on the following chart snapshot, we’re going to submit some options-trading ideas to correspond with the setup.
We want to radar contracts in the range of ESPR Weekly $26-31 Calls. The stock is gapping up over 15% this morning, partially filling that gap on the chart. It has traded as high as $30 in the premarket.
Extended Watchlist:
BIEL, VAPE, CBMJ, ZAZA, FRFS