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Options Recaps & More

Reviewing Friday’s Options Plays

In Friday morning’s report, we set out several last-minute options ideas, and our first order of business to kick off the fresh trading week is to highlight the performances recorded by those targets.

We had a mixture of bulls and bears on our watchlist and for most of them, we saw some pretty nice action and potential intraday gains:

DKNG Weekly $25 Calls
$280: .90-4.30 (+378%)

AMAT Weekly $54.50-53 Puts
$54.50: 1.30-2.63 (+102%)
$54: 1.05-2.50 (+138%)
$53.50: .72-2.29 (+218%)
$53: .50-1.80 (+260%)

ACB Weekly $7-8 Calls
$7: .86-3.03 (+252%)
$8: .28-3.75 (+1238%)

In the case of ACB, not only did our options targets kill, especially with that beautiful twelve-bagger, but the stock itself is on a heck of a run, seeing a low of 7.80 on Friday and reaching as high as 14.90 in early trading today. That’s a respectable move of 91% We’re also going to roll up to the ACB $13-15 Calls for this week.

Fresh Ideas:
SE Weekly $63-66 Calls
SPY 05/20 $292-295 Calls
TDG 07/17 $390-400 Calls

SPY Puts Still in Play, New Ideas

SPY Review

The tides continue to ebb and flow, and our primary goal is to roll with them as best we can. This is just the concept we were illustrating yesterday when highlighting the imprtance of having a range of bullish and bearish targets on watch during such volatile times. The markets dipped in the morning, and recovered rather nicely throughout the course of the day.

That gave our updated idea on the SPY some traction early on in the session, with our targets posting some respectable moves:

SPY Weekly $280-278 Puts
$280: 2.93-5.05 (+72%)
$279: 2.50-4.44 (+78%)
$278: 1.18-3.34 (+183%)

With the report on retail sales showing more than a 16% loss for the month of April, the market may head lower and push these gains up even further early on.

Fresh Options Ideas*:
DKNG Weekly $25 Calls
AMAT Weekly $54.50-53 Puts
ACB Weekly $7-8 Calls
CSCO Weekly $44-43.50 Puts

*Please do not trade weekly options on a Friday unless you are an advanced level trader with access to disposable funds!

Wrapping Up a Solid Options Trading Week

Options Recap

We presented some bearish options ideas in our premarket report from yesterday morning and thanks to a midday selloff for the markets as a whole, we were able to observe some very nice intraday gain opportunities.

SPDR S&P500 (ETF) SPY Weekly $309.50-308.50 Puts
$309.50 Puts – Range: .75-1.72 – Max Gain: 129%
$309 Puts – Range: .54-1.33 – Max Gain: 146%
$308.50 Puts – Range: .38-1.21 – Max Gain: 218%
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Canopy Growth Corp. CGC $18.50-17 Puts
$18.50 Puts – Range: 2.26-3.30 – Max Gain: 46%
$18 Puts – Range: 1.58-2.80 – Max Gain: 77%
$17.50 Puts – Range: 1.10-2.34 – Max Gain: 113%
$17 Puts – Range: .87-1.87 – Max Gain: 115%
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Fresh Idea:
JD Weekly $34.50-35.50 Calls

Extended Watchlist:
MDR, FTCH, AMAT, CGIX, SQM, JCP, GRUB, SCON