Blue Horseshoe Stocks: SPY Puts & More

SPDR S&P500 ETF (SPY) – Options Idea

We came up really big with some SPY options ideas just prior to the New Year break, and will look to continue that pattern today. The markets look to be gearing toward another slumping session, so we’re inclined to signal a range of of bearish ideas to correspond with the fund’s current activity.

We’re going to select the SPY 01/02 $248-245 Puts* for observation today, with the possibility of some considerable gain opportunities that would come our way with a bearish correction to last week’s bullish push.

Please note that these expire at the end of the day, and should thus be treated as Weekly options on a Friday. As we always mention in these instances: *Please do not attempt to trade options on the day they expire unless you’re a seasoned veteran trader with money to burn. While the potential rewards are great from this type of trading, the risk is equally grave.


Western Asset Mortgage Capital Corp.  WMC

We want to put WMC on watch as a Form-4 bottom play, after noticing that the CFO picked up a multi-million dollar block of shares toward the end of last week, just as the stock has been coming down to new 52-week lows.

We will put it on our radar and be looking for it to establish itself as a recovery play as we kick off this new trading year.


Extended Watchlist:
GNCA, EBR, AKER, WMC, PLUG, NDRA, FCEL, CPST, CCCL

Blue Horseshoe Stocks: SGSI Update

Spectrum Global Solutions, Inc. SGSI – Update

We’ve been tracking SGSI closely, and wanted to highlight the news the company issued on Friday morning pertaining to an appearance at an upcoming high profile conference. We also have a video presentation of the current SGSI chart that we strongly suggest our readers take the time to view. 

Spectrum Global Solutions, Inc. (OTCMKT: SGSI), a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean, today announced that it will be presenting at the 11th annual LD Micro Main Event. (>>View Full PR)

Did you miss our special report on SGSI last Monday? It’s not too late to check that out and learn why we’re excited to be covering this fast growing company! 

>>View SGSI Report<<


Extended Watchlist:
MARA, ESES, RSLS, DEA, SLS, ICON, RGSE, AKER, JKS

Blue Horseshoe Stocks: HSY Options & More

The Hershey Co. HSY

We’re looking at one of the biggest players in the Halloween candy game in Hershey as we kick off a fresh trading week. The company reported its Q3 earnings on Thursday, and despite a frosty reception from Wall Street, we are liking the look of this play.

The company asserts that it is on a good path, having had what the CEO calls a game changing year. While the stock did see its biggest daily loss since 2016 on Thursday following the report, it did not turn into a multi-day slide. Coupled with what looks to be another rebound day for the markets at large, and we’re interested in signaling a few HSY Calls.

We’ll place the HSY Weekly $102-104 Calls on watch this morning.

____

Bonus Idea:
Nutanix, Inc. NTNX 01/18 $42.50 & $45 Calls


SPDR S&P 500 ETF (SPY)

On Tuesday, we noted that with such a sharp and rapid downturn in the markets, that a rebound was certain to be in the cards for the SPY. It led us to signal interest in the SPY 10/31 $275-277 Calls, which will certainly be in play today as the SPY is gapping up big this morning in the premarket.

We’ll be back tomorrow morning with a recap of what is likely to be a cleanup session for these plays today.


Extended Watchlist: 
DPW, ESES, XSPA, AKER, SBS, TLRY, AMRN, NXTD, STNE

Blue Horseshoe Stocks: BABA Options & More

Alibaba Group Holding Ltd BABA – Options

To kick off this brand new trading week, we are interested in tracking a range of calls in the BABA chain, after shares dipped on the news that co-Founder Jack Ma will be stepping down and handing full control over to the CEO effect next year.

The reactionary selloff may provide us with some solid options trading chances, so we are going to keep an eye on the BABA 10/12 $165 & 167.50 Calls in the days and weeks ahead.


OPKO Health Inc. OPK

Shares of OPK took a bath on Friday, briefly falling below the stock’s 200DMA, and closing well in the red on the day. We’re going to signal our interest in tracking OPK as a bottom-watch play.

The stock is approaching extremely oversold territory, and in the midst of its downturn we observed some Form-4 submissions, with insiders buying up shares on Friday as the bottom fell out.

That suggests a confidence that it may not have much further to fall, so we will want to hang around as OPK searches for a bottom and solid rebound point.



Extended Watchlist:
TAHO, ECYT, TLRY, CGC, AKER, CLDR, FRED, IGC

Blue Horseshoe Stocks: Cannabis Reminder

CANNABIS REMINDER

We took full advantage of the recent earnings season with a ton of great options ideas, but things are cooling down on that front for the moment. To start off this week, we’ll put our ever-continuing options search on hold for today, to bring our readers an annual reminder.

Each year as the summer season begins to wind down, we like to pull together a sizable watchlist for the cannabis space. The Autumn season has traditionally been the legal and medical marijuana industries’ most active in terms of movement on charts. The pattern has repeated itself year after year, so with the market appearing relatively quiet at the moment, now is a good time to reassert our interest in cannabis sector stocks for the coming of the fall rush.

The following is not an exhaustive list, merely a few old favorites, but we ensourage our readers to seek out and monitor any stock that is related to the field:

AGTK, ACBFF, CANN, NGTF, MSRT, POTN, PNTV, CNBX, OWCP


Avalon Holdings Corp. AWX

We’d also like to quickly share the performance of AWX following its inclusion in our premarket watchlist on Friday. Early on in the session, the stock ran from a low of 4.52, and went on to hit 6.79, which works out to a respectable intraday pop of 50%  That was sufficient to register as the NASDAQ’s #2 mover on the day.


Fresh Options Ideas:
Energen Corp. EGN 09/21 $75 $ 77.50 Calls
Neilsen Holdings plc NLSN 09/21 $25-27 Calls


Extended Watchlist:
GST, AKER, SYY, DPW, IZEA