The markets slid once again to start yesterday’s session as we suspected they may, and despite recovering into the close, we had plenty of time and opportunity to profit off of the bearish slate of options ideas we put forth in our premarket report.
Our target plays that produced in the session were the SPY 05/19 $409-407 Puts and the LOW Weekly $192.50-187.50 Puts. We saw some good afternoon activity with the following intraday runs:
SPY 05/19 $409-407 Puts
$409: .33-1.70 (+415%)
$408: .13-1.05 (+707%)
$407: .07-.60 (+757%)
LOW Weekly $192.50-187.50 Puts
$192.50: 3.30-6.65 (+102%)
$190: 2.08-4.62 (+122%)
$187.50: 1.22-3.06 (+151%)
Fresh Options Ideas:
KSS Weekly $58-56.50 Puts
RL Weekly $130-125 Puts
CSCO Weekly $50.50-49 Puts
International Consolidated Companies, Inc. INCC – Recap
We also want to talk about INCC for a moment, following its big run to new highs. We’ve been tracking this play since the morning of April 6th, and it has made some impressive swings.
Following our flag last month the stock ran 100% from .0018-.0036, and subsequently consolidated back down to .0017 before hitting its new high of .0061 yesterday, which represents an upswing of 259% We’ll be looking for it to hold .0037, above the previous swing high on any pullbacks.
DSCR, SEEK, UATG, BYRG, FWDG, AERS, MNGG, QBAN, XTRM, RSHN