The Cato Corp. CATO
With the coronavirus pandemic still raging, we’ve been forced to move away from our traditional technical-based trading methods and become more opportunistic. In the case of CATO, however, we have an interesting opportunity with the stock being pressed down to its lowest prices in over a decade, just yesterday.
We are always looking for stocks that are searching out new lows, and will observe carefully in the days and weeks ahead as CATO establishes its own bottom. The company announced at the beginning of last month that would reopen most of its stores.
ABM Industries Inc. ABM
In yesterday’s premarket report, we signaled a pair of contract sets to put on watch in the ABM chain, and we did see some solid movement in those on the day. They were the ABM Weekly $30 & 35 Calls and both made notable increases, with an especially impressive performance coming from the $35’s.
ABM Weekly $30-35 Calls
$30: 5.00-8.60 (+72%)
$35: 1.11-4.00 (+260%)
JBL Weekly $33.50-34.50 Calls*
KMX Weekly $98.50-100 Calls*
*Please do not attempt to trade weekly options on a Friday unless you are an advanced level trader with access to disposable funds.
NGCG, MRGE, DECN, VYST, UONE, UONEK, SALM, NTN
Ethema Health Corp. GRST
It was just yesterday morning that we updated readers on the incredible performance of GRST, a subpenny stock we first alerted on June 5th. From our observed low of .0002 on the play, it had banked a twelve-bagger for us!
Even as the larger markets backslid, GRST continued its major move yesterday, tacking on yet another impressive new high and extended our witnessed gains by a considerable margin. This OTC stock hit .0032 during the session, which represents a total increase for us amounting to 1500% in the space of just nine trading days!
Cheers to anyone who has been able to pocket some profits off of this big-time mover!
Fresh Options Ideas
ABM Weekly $30-35 Calls
BHVN Weekly $70-75 Calls
CLWD, OWCP, VYST, TLSS, TMPS
Hasbro Inc. HAS – Options Idea
To start things off this morning, we are looking toward the Hasbro options chain, following the company’s earnings report this morning revealed Q2 beats on sales, profits, and revs.
The stock is gapping up here in the premarket, and we’re going to want to be ready with an options idea for possible quick strike gains to kick off the week. We’re going to track the HAS Weekly $102-105 Calls, and attempt to continue to fantastic options success we have recently enjoyed.
ABM Industries, Inc. ABM
Speaking of fresh options ideas, we’re interested in ABM from a technical standpoint, and will be monitoring the activity in the ABM 08/17 $30-35 Calls.
As you can see on the following chart snapshot, we have a number of favorable indicators in play. In addition to a strong double bottom signal, and a MACD on the verge of going bullish, the stock just last week cracked and managed to hold support at its 50DMA. The RSI is also on the cusp of breaking the 50-line.
All in all, a positive move of at least a few dollars seems very possible, and would likely produce some good chances in our designated calls in that event.
RETA, SBBP, HCLP, CLF, RGSE,