We’re going to start things off this morning by highlighting a potential bottom-bounce play in OPK which is presently boasting a ripening chart setup.
Not only that, but we’ve got a Form-4 alert on this one as well, with CEO Phillip Frost purchasing 100,000 shares yesterday at 4.89. We generally take insider buying at a bottom, especially a strong double bottom like OPK is exhibiting, as a sign that a more sustained recovery could be on the way.
We’ll place this stock on watch in the days and weeks ahead as well as keep an eye on an options idea, the OPK 03/02 $5-6 Calls.
Caterpillar Inc. CAT
Speaking of options ideas, we wanted to submit one for CAT as well in the wake of its premarket earnings release, wherein the company reported a 35% sales increase and a solid beat on profits.
The stock is gapping up into blue skies this morning in the $175 range, so we’ll be looking for a classic early dip-and-rip, and tracking the CAT Weekly $170-175 Calls for potential quick-strike trades.
RMGN, ATOS, CLF, MYSZ, GALT MDZ, LODE