We noted yesterday morning that LITE was bucking trend of the two-day market bloodbath we witnessed this week. We made it clear that we were interested in the LITE Weekly $44-46 Calls regardless of which way the markets went, and it turned out to be a solid idea.
The markets did of course see a reversal, and LITE did perform well on the day, creating the following gains in our tracked contracts:
$44 Calls – Range: 2.00-8.00 – Max Gain: 300%
$45 Calls – Range: 2.50-6.98 – Max Gain: 179%
$46 Calls – Range: 1.25-6.00 – Max Gain: 380%
Fresh Options Ideas:
The Walt Disney Co. DIS – Weekly $107-109 Calls
Snap, Inc. SNAP – Weekly $16-17.50 Calls
Quotient Ltd. QTNT
Another stock we went bullish on in yesterday morning’s report, despite coming off the biggest two-day losses for stocks in history, was QTNT.
It boasted a solid bottom setup, and had already exhibited some bottom-bounce activity in the prior session. It also performed well on the day, trading up from a low of 3.36 to a high of 4.39- a respectable intraday run of 31% We’ll look for the stock to establish a trend of higher highs and higher lows over the next few sessions.
RIOT, NETE, DRYS, DPW, MARA, CFRX