Tag: BKS

Blue Horseshoe Stocks: ACRX Recap & More

AcelRx Pharmaceuticals, Inc. ACRX

We want to circle back around to ACRX this morning to give an update on its recent performance following our most recent tag of the stock on Monday of last week. We observed ACRX shares changing hands for as little as 2.80 that day, and the stock has been on a pretty nice run since then.

ACRX logged a solid session yesterday which allowed it to reach a new high of 3.65, marking an increase of 30% in a span of one week. More importantly, the stock closed at its new high, on heightened volume and is gapping up this morning, so we’ll definitely want to be on the lookout for further activity on this play, which is now trading at its highest PPS since October.

Post-Earnings Options Ideas

We usually have pretty good fortune when using the heightened activity that generally follows an earnings beat to find solid short term options ideas.

Today, Caterpillar and McDonald’s are the two big names making waves in the premarket, so we’ve formulated a range of interesting contracts in each chain to track as we head into midweek.

For Caterpillar, we’ll be looking at the CAT Weekly $111-114 Calls, and for McDonald’s, the MCD Weekly $152.50-155 Calls for potential quick-strike trades.


AK Steel Holding Corp. AKS

We want to put AKS on a longer-term watch after the company’s own solid beat on expectations for its Q2 earnings, as well as a recent upgrade from ‘Neutral’ to ‘Buy’ by Longbow Finance.

The potential for big tariffs on international steel being imposed in coming weeks is also present, and has been adding fuel to the furnace, so to speak, for steel stocks. A confirmation of those tariffs would certainly provide a boost that could send AKS higher.

Extended Watchlist:
GNCA, BKS, GEVO, TNTR, TEUM, DCIX,

Blue Horseshoe Stocks: TROV Recap & More

TrovaGene, Inc. TROV

We wanted to swing back around this morning for a stock that we mentioned on Monday of last week. We said we’d want to have it on watch in later sessions, as the company had just released news of a service agreement with pharma giant AstraZeneca.

There was a slight pullback off of the initial spike that the announcement caused that day, and TROV found support at a low of .85. This morning the stock has reached as high as 1.35 in the premarket, which marks a rise of 59% over the lows we observed last week.

We want to continue to keep an eye on TROV and see it make higher highs and higher lows. If the stock can hold at or above previous resistance at 1.20 on any pullbacks, it’ll be a positive signal.


Marathon Patent Group, Inc. MARA

Hitting our radars as a bottom-bouncer this morning is MARA, which popped up yesterday with its first significantly bullish session in quite some time. It had been pretty well oversold for months, as you can see on the accompanying chart snapshot.

We’ll be interested to see if MARA can put together a multi-day trend, or if yesterday’s move was an aberration. The first step will be a breach of the current 50DMA at .40, which also coincides with an an area of considerable previous resistance.


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Highway Holdings Ltd. HIHO – Another potential bottom play we wanted to quickly point out this morning is HIHO. We’ve noticed that the stock has come up off of a double-bottom formation and has been holding support well at the 3.30 level over the past few sessions. We’ll look for it to continue to do so.

The

Extended Watchlist:
OVAS, CTRV, ORCL, AAL, CMC, BKS

Blue Horseshoe Stocks: Options Updates & More

Shire plc SHPG – Options Update

The idea that we formulated earlier in the week with regard to the SHPG options chain has already provided us with gain opportunities, but the gap up we’re seeing this morning could really make things interesting. Just to refresh your memory, our target range was the SHPG Weekly $175-180 Calls.

With the stock gapping up big-time, having already hit a high of 185.00 in the premarket, anyone who entered one or more of these contracts prior to this morning will be in line to reap some serious profits right out of the gate.

Our observed lows for each set of contracts was as follows: $175 – 2.60, $177.50 – 3.00, $180 – 1.65. With every one currently being pushed deep into the money, it will be interesting to see the subsequent highs that are recorded today.

We feel it’s generally a good idea to lock in profits on a gap-up, just in case the stock retraces and fills the gap.

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FRESH OPTIONS IDEA:

Tesla Motors Corp. TSLA – Tesla took a gut-punch yesterday as Tuesday’s post-market announcement of its offer to purchase SolarCity met mixed reviews, and appears to be setting up for further backsliding.

Should this bearish trend persist into today’s trading session, we’ll be very interested in tracking the activity of
the TSLA Weekly $200-195 Puts.

BioScrip, Inc. BIOS

We also want to provide a brief update on BIOS, a stock we alerted on Friday just in the nick of time to catch a nice uptrend. From a low of 2.23 that day, the stock has recorded higher highs and higher lows every session since, culminating in a new high of 2.87 yesterday. That works out to a respectable four-session boost of 29%

We still like the look of the BIOS chart, which is showing hints of potential for further moves to the upside. Key resistance is sitting at the previous swing high of 3.10, so we’ll be on the lookout for a breach of that level,.

Extended Watchlist:
CTIC. XIV, BKS, PBR, ONCI, ZONX, RXDX(Potential bottom-play)