Blue Horseshoe Stocks: Bearish Options Ideas

AutoDesk Inc. ADSK 

With things looking choppy for the markets this morning, we are going to turn to a bearish idea for ADSK despite the company’s beat on Q2 earnings yesterday after market hours. The stock began to crumble under the weight of ADSK’s weak Q3 guidance. The poor outlook given, combined with the flow of market tides, could be just the thing for bearish options contracts, namely the ADSK Weekly $135-132 Puts.

There are those of the belief that ADSK stock was already valued too high leading into yesterday’s report, which is why we feel confident choosing to go short at the present time.
___

Bonus Bear:
TIF Weekly $82-79 Puts 


The Buckle, Inc. BKE – Update

We would also like to update readers on another recent idea we floated. On Friday morning, we selected the BKE 09/20 $17.50-20 Calls for a longer-term options idea, and already it has borne fruit just a few sessions later.

The $17.50 Calls have run from a low of .95 and reached 2.31, marking a gain of 143%  Meanwhile the $20’s have soared by an even higher margin, trading in a range from .20 up to .72, which works out to a 260% run.


Extended Watchlist:
LCI, VTGN, OBLN, TGE, NAKD, USLV, WTER, COTY,

Blue Horseshoe Stocks: Plenty of Options

Dicks Sporting Goods, Inc. DKS – Options Recap

We kept the options train rolling yesterday morning, with a fresh quick-strike idea for the DKS chain. Our targets of interest were the DKS Weekly $34.50-36 Calls and we got some very respectable moves out of each of those four sets of contracts.

The company posted solid quarterly figures, even as the sports superstores continued to curtail hunting/gun departments in more than 120 of its stores. That allowed for 3 out of the four contracts to post multi-bag gains, with the fourth not far behind.

Here are your total possible intraday profits which could have been realized during yesterday’s session: 

DKS Weekly $34.50-36 Calls
$107 Calls – Range: .65-1.15 – Max Gain: 77%
$108 Calls – Range: .43-.94 – Max Gain: 119%
$109 Calls – Range: .28-.95 – Max Gain: 239%
$110 Calls – Range: .20-.45 – Max Gain: 125%
_____

Fresh Ideas:
Foot Locker FL Weekly $38-36.50 Puts
The Buckle, Inc. BKE 09/20 $17.50-20 Calls
Salesforce.com, Inc. CRM Weekly $155-157.50 Calls
Overstock.com, Inc. OSTK Weekly $20-20.50 Calls

**Please DO NOT attempt to trade weekly options on a Friday unless you are an advanced-level trader with access to disposable funds!


Pier 1 Imports, Inc. PIR – Bottom Bouncer

We are catching PIR as it has just begun to come up off of its recently registered annual lows. We want to radar the stock here as it builds some momentum.

From current pricing, it would not be crazy to think that this retail stock may be capable of doubling as we approach retail season.

Blue Horseshoe Stocks: 2800% Gainer & More

Canopy Growth Corp. CGC

CGC has been a hot topic for us since last Wednesday when we alerted readers that we’d be tracking the CGC 09/21 $30-40 Calls.  This is now the fourth time since then that we’ve had to come back and update the total possible gains on our ideas, because the stock has been in bull mode throughout.

CGC shares alone have risen from a low of 29.05 up as high as 42.85, marking a 48% increase in just six trading days. On a nearly thirty dollar stock, it’s an eye popping turn of events.

It’s the gains in our designated options contracts that have been really impressive, adding new highs nearly every day. Here are the enormous ranges and possible gains on our ideas since last Wednesday:

$30 Calls – Range: 1.76-12.70 – Max Gain: 622%
$35 Calls – Range: .56-8.20 – Max Gain: 1364%
$40 Calls – Range: .16-4.70 – Max Gain: 2838%

______

Williams-Sonoma, Inc. WSM

Fresh for yesterday morning’s report, we included an idea to correspond with Williams Sonoma’s strong quarterly earnings report, and it’s a good thing we did. Those also provided us and our readers with the chance at multi-bag intraday gains!

Our targets were the WSM 09/21 $67.50 & $70 Calls. The $67.50’s traded in a range from 2.40-6.40 for a gain of 167% while the $70’s made their run from 1.05-4.60, representing a gain of 338%
_______

FRESH OPTIONS IDEAS:
AMD Weekly $22.50 & 23 Calls
ADSK Weekly $147-150 Calls
SPLK Weekly $114-117 Calls



Seven Stars Cloud Group Inc SSC

After targeting SSC for observation on July 24th and subsequently witnessing a move of 170%+, we suggested that folks be lookout for a dip-and-rip to possibly see even more gains.

It has come to pass exactly as we expected, and the dip-and-rip pattern took the stock to a low of 2.71 before shooting back to 4.35. That’s an upswing amounting to 61%


Extended Watchlist:
CRON, MDXG, ICHR, TLRY, SDRL, BKE, MAXR