SPDR S&P500 ETF (SPY)
We are wrapping up a very solid week, which even included a twenty-bagger (NFLX $300 Calls, +2069%). This morning, with the markets appearing to be geared toward bullish finish to the week, we will entertain a range of SPY Calls, for the possibility of some good daytrades to really end things on a high note going into the upcoming long weekend.
The SPY is our go-to target when not a lot else is jumping off of the scanner, and we’ve played it successfully on more occasions to count. The most recent being a couple of sets of ideas we made just prior to the New Year, which resulted in gains ranging from 300-600%
Today, we are going to be tracking the SPY Weekly $263.50-265 Calls.*
JBHT 02/15 $100 & $105 Calls
CGC Weekly $43-44.50 Calls*
*Please do not attempt to trade weekly options on a Friday unless you an advanced level trader with disposable funds.
BPTH, MTNB, KNDI, HSGX, CRBP, CCCL
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SPDR S&P500 ETF (SPY) – Options Idea
We came up really big with some SPY options ideas just prior to the New Year break, and will look to continue that pattern today. The markets look to be gearing toward another slumping session, so we’re inclined to signal a range of of bearish ideas to correspond with the fund’s current activity.
We’re going to select the SPY 01/02 $248-245 Puts* for observation today, with the possibility of some considerable gain opportunities that would come our way with a bearish correction to last week’s bullish push.
Please note that these expire at the end of the day, and should thus be treated as Weekly options on a Friday. As we always mention in these instances: *Please do not attempt to trade options on the day they expire unless you’re a seasoned veteran trader with money to burn. While the potential rewards are great from this type of trading, the risk is equally grave.
Western Asset Mortgage Capital Corp. WMC
We want to put WMC on watch as a Form-4 bottom play, after noticing that the CFO picked up a multi-million dollar block of shares toward the end of last week, just as the stock has been coming down to new 52-week lows.
We will put it on our radar and be looking for it to establish itself as a recovery play as we kick off this new trading year.
GNCA, EBR, AKER, WMC, PLUG, NDRA, FCEL, CPST, CCCL