SPY Calls Roll:
Up until yesterday morning, it had actually been quite some time since we had last formulated a daily trading idea for the SPY, which historically has been one of our most common targets. Despite an up-and-down session for the markets, we did observe some very nice gain opportunities in our targeted contracts.
We were looking at the SPY 09/13 $446-448 Calls due to a relative dry spell of earnings reporters that will persist for the next several weeks. It turned out to be a solid choice, with our designated range yielding three out of three multi-baggers, including two sets that ran well over a thousand percent!
Here are the total moves and possible profits provided by our selections on the day:
SPY 09/13 $446-448 Calls*
$446: .05-.99 (+1880%)
$447: .01-.16 (+1500%)
$448: .17-.44 (+159%)
We’ll stick with the same SPY targets but for tomorrow’s expiration, following better than expected Consumer Price Index (CPI) figures dropped this morning.
Fresh Options Ideas:
SPY 09/15 $446-448 Calls
ORCL Weekly $87-85.50 Puts
B 10/15 $35-45 Calls
Extended Watchlist:
DSGT, HRAA, UPIN, INCC, IGEN, BSTK, LIFE, NNVC, JCS