Keeping an Eye on Solar
This week has brought some very interesting plays in the solar energy sector. We’ve already seen big gains from SPI Energy Inc. SPI, JinkoSolar Holdings. Inc. JKS, and SunWorks Inc. SUNW, and would like to keep our eyes peeled for other opportunities in the arena which may be boosted by the volatility in those moves.
Yesterday alone, SPI went parabolic as it popped off from a low of 3.30 and hit 46.67 for an intraday run of over 1300%, SUNW ran from .73-4.57 (+526%), and JKS continued a month long run with a solid jump from 28.30 to 33.74 (+19%).
What this all tells us, is that a lot of eyeballs are sure to be flooding the solar space in coming sessions, and we’d like to formulate an options idea in the Invesco Solar ETF (TAN), which is presently flirting with a double top, the breaking of which would put it into blue sky territory. To make things interesting, we are going to place the TAN 10/16 $54-56 Calls on watch.
Another Fresh Idea:
JEF 10/16 $17.50-20 Calls
JE, XTRM, CHNC, EVUS, BANT, DECN, BLLB, FSLR, CSIQ
Adobe, Inc. ADBE – Review
On Friday morning, we reminded readers to stick with our preexisting options idea for ADBE. which was gearing up big in the premarket to make some serious gains. Our targets were the ADBE $397.50-$405 Calls.
In addition to making multi-bag moves overnight, those options ideas did in fact deliver on the Friday intraday gains that we essentially guaranteed.
ADBE $397.50-$405 Calls
$397.50: 2.19-11.08 (+405%)
$400: 1.53-9.23 (+503%)
$402.50: 1.35-6.72 (+398%)
$405: .68-5.01 (+637%)
We had also signaled some contracts in a couple of other chains as well on Friday morning, and in both cases, we witnessed some decent intraday gains. They didn’t go parabolic, but still posted the following respectable moves on the day:
BITA 06/19 $15-17.50 Calls
$15: 1.20-1.65 (+38%)
$17.50: .35-.50 (+43%)
PLAY Weekly $15.50-16.50 Calls
$397.50: 1.31-2.20 (+68%)
$400: 1.11-1.90 (+71%)
$402.50: .95-1.60 (+68%)
Fresh Options Idea:
SPY 06/15 $300-298 Puts*
*Trading these puts is tantamount to trading weekly contracts on a Friday. Do not attempt to do so unless you are an advanced trader with access to disposable funds.
FORW, DTGI, BLLB, HMNY, ZHUD, BSGM