HAPPY HOLIDAYS, ONE AND ALL!
We want to start things off this short trading week, by wishing everyone a happy holiday season, no matter how you celebrate!
This is traditionally a very low-key week for the markets, as most people are focused on enjoying their families or time off from work at this time. Especially with no major earnings reporters on the calendar, we expect a relatively subdued start to the week as well.
General Mills, Inc. GIS
One thing we do want to do is circle back to the call we made for the GIS options chain on Wednesday, which made a pretty good move into the end of the week, and will be high on our watchlist , as further gains are very possible.
We had highlighted the GIS 01/17 $55 Calls, and they subsequently made a very impressive move from .10-.29, marking a rise of 190% We will continue to keep an eye on this play, as GIS attempts to break the double top around the $54 mark. A break of that area will send these gains soaring.
Fresh Options Ideas:
Finally, it wouldn’t feel like the start of a fresh trading week without some fresh options speculation.
We’re going to radar the SPG 01/17 $145-150 Calls as the chart is in a prime bottom-bounce setup. We took it out to the January 17th’s to give ourselves ample time to witness what appears to be an impending rebound.
SDRL, ACHV, ONCY, CALA, YAYO, CPRX, FBIO, ITCI, LLEX
WW International, Inc. WW – Update
To open up the last full trading week 2019 yesterday, we signaled a range of calls in the Weight Watchers options chain based on the technical setup, and to help us along at 9:15AM, just a few minutes after our reports went out, the company announced the extension of its partnership with Oprah Winfrey through 2025.
The resulting activity allowed ourselves and our readers the chance at the following intraday profits:
WW Weekly $39.50-40.50 Calls
$39.50 Calls – Range: .35-.85 – Max Gain: 143%
$40 Calls – Range: .23-.65 – Max Gain: 183%
$40.50 Calls – Range: .18-.45 – Max Gain: 150%
Fresh Options Ideas:
JBL posted an earnings beat, and we’ve picked up on some bottom buying by directors of PLCE. Here are the ideas that we will want to track in accordance with each situation.
JBL Weekly $43.50-45 Calls
PLCE 01/17 $65-70 Calls
ACHV, CFRX, SNSS, BLPH, SSL, REGI, TEUM, GES
Closing Out Another Great Week of Options Trading
Despite a momentary lull in the volume of earnings reporters earlier in the week, we managed to find several winning options ideas.
This morning, in addition to even more fresh ideas, we’ll recap the new highs in our CHWY calls, as well as the huge single session performance by LL, which we signaled in yesterday’s report. Those approached and exceeded the 1000% gain range on the day.
CHWY Weekly $25.50-26 Calls
$25.50 Calls – Range: 1.05-3.10 – Max Gain: 195%
$26 Calls – Range: .80-2.52 – Max Gain: 215%
LL Weekly $9.50-10 Calls
$9.50 Calls – Range: .15-1.40 – Max Gain: 833%
$10 Calls – Range: .10-1.15 – Max Gain: 1050%
$10.50 Calls – Range: .05-.65 – Max Gain: 1200%
Fresh Ideas to Close Out the Week
SPY Weekly $317.50-318.50 Calls*
ADBE Weekly $310-315 Calls*
SRPT Weekly $132-134 Calls*
*Never trade weekly options on a Friday unless you are an advanced level trader with access to disposable funds!
LMP Automotive Holdings, Inc. LMPX – Recap
We also wanted to make mention of the solid intraday move by recently IPO’d LMPX, which we included in yesterday’s extended watchlist.
The stock ran from a low of 16.23, and hit 22.95. That worked out to an upswing of 41% and registered as the NASDAQ’s second biggest gainer of the day.
ROYT, CREG, ACHV, LODE, WVE, SLDB, FPAY