Options Review, Bearish on New Plays

BAC, SYF Options Review: 

We made good on both of the short-term options trading ideas we issued in yesterday morning’s premarket report. with our long -term play needing some more time to mature. We typically steer clear of banks, but occasionally we will take a shot following an earnings drop and we did so successfully with Bank of America.

We were zeroed in on the BAC Weekly $36.50-37.50 Calls, as well as the SYF Weekly $37-39 Calls, which also produced significant intraday gain opportunities for us on the day. The daily ranges and total possible profits off of those ideas were as follows:

BAC Weekly $36.50-37.50 Calls 

$36.50: 1.18-2.86 (+142%)
$37: .84-2.35 (+179%)
$37.50: .56-1.90 (+239%)

SYF Weekly $37-39 Calls
2.20-3.46 (+57%)
$38: .85-2.45 (+188%)
$39: .39-1.75 (+348%)

Fresh Options Ideas:
HAL Weekly $41.50-40.50 Puts
LMT Weekly $460-465 Puts

Casa Systems Inc. CASA – Recap:

Another winner from yesterday morning’s report was CASA, which we tagged for the first time in our extended watchlist. The stock would go on to place as the top gainer on the NASDAQ for the day. From an early low of 5.63, CASA ran to a high of 7.18, marking down a respectable intraday run of 28%

Extended Watchlist: