Lululemon Athletica LULU – Recap
If you have been following our newsletters for any significant period of time, you know that we’ve been hitting home runs left and right in the options trading arena. We offered up a range of contracts in the LULU chain to watch on Friday on the heels of the company’s earnings drop, the LULU Weekly $149-152.50 Calls.
Unsurprisingly, we saw some very nice activity out of those plays to close out what had already been another successful week for options.
$149 Calls – Range: 5.35-10.70 – Max Gain: 100%
$150 Calls – Range: 5.00-10.75 – Max Gain: 115%
$152.50 Calls – Range: 2.95-7.30– Max Gain: 147%
Another very notable move from the plays we were watching last week came from the SPY $290 Calls which experienced a significant dip and rip, trading as low as .06 before closing at .65, an intraday rise of 983%
RIOT, SPPI, NBEV, ALT, RIGL, TLRY, CRON
Walmart, Inc. WMT – Options Idea
Walmart was already building a nice head of steam on the chart in the weeks leading up to this morning’s earnings release. Things have kicked up a notch this morning as Walmart recorded a resounding across-the-board beat, including an online sales increase of 33%
Given that we are always looking out for opportunities to trade options on the heels of a solid earnings beat, we are going to slate some Walmart calls for observation this morning.
We’ll be tracking the WMT Weekly $86.50-88.50 Calls after what we expect should be a dip-and-rip scenario.
Altimmune, Inc. ALT
We would also like to make mention of ALT this morning, after taking notice of the significant pickup in both price action and volatility yesterday.
That was preceded by a lengthy consolidation period as you can see on the snapshot below, and at the present time, the stock is beginning to come off of being oversold. We’ll watch this one for a potential recovery play in upcoming sessions.
BDSI, BIOC, BLNK, IMMU, FRED, NOG