Blue Horseshoe Stocks: Options Recap, Cannabis Play & More

SPDR S&P 500 ETF (SPY) – Options Recap

Despite market-wide turmoil over Britain’s “Brexit” vote, we saw fit to target a range of SPY options for observation in Friday morning’s premarket report. Our highlighted contracts were the SPY Weekly $200-205 Calls and with the exception of the lower denominations, which were were too far into the money to see any solid gain opportunities, they worked out quite well.

Some intraday volatility was the primary element which allowed quick-fingered traders to reap instant rewards from all but two of the contracts in the $205-202 Put-range. The potential gains were as follows:

$205 Puts – Trading Range:  .77-2.43 – Max Gain: 215%
$204 Puts* – Trading Range: 1.20-3.05 – Max Gain: 154%
$203.50 Puts* – Trading Range: 1.55-3.15 – Max Gain: 103%
$203 Puts* – Trading Range: 1.82-3.86 – Max Gain: 112%
$202 Puts – Trading Range: 2.87-4.88 – Max Gain: 70%

*Contracts labeled with an asterisk also saw a late day run of OVER 200% EACH, in addition to the initial moves listed above!


New Columbia Resources, Inc. NEWC

Today we’re circling back around to a play we have tracked in the past. Things have been mostly quiet for NEWC this year, with the exception of a massive run from the .007-range up as a high as a nickel. Since that time, leading up to last week, the stock had been under consistent consolidation. Tuesday, it began to experience a bounce that once again has our interest focused upon this cannabis-related play.

Due to the apparent impending end of over five decades of internal hostilities in Columbia, the company has commented on a bolstered outlook for its projects (both cannabis and mining) in the South American nation. Should the resolution be ratified in an upcoming referendum, it could mean good things for the future of NEWC, and accordingly, its stock.


Extended Watchlist:
XTRN, PXYN, SKUL, PTX, XGTI, ATRS, OCN

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