Adverum Biotech, Inc. ADVM
Our first order of business this morning is to review a stock we’ve been watching since the beginning of the spring, and reporting on it each month. Back on April 17th we initially alerted on the stock while it was trading for as little as 5.44 a share. We also did a followup report on it on May 20th as well as one last month, on June 5th.
The stock has essentially been in a solid uptrend the entire time, with its biggest single-session move yet occurring yesterday from 10.15 11.95 to 14.96. It marked an intraday pop of 25% and an increase of 47% over the low following our June 5th mention. The total overall increase we’ve observed since our original alert has been 175%
Carnival Corp. CCL
We ran across the technically attractive setup on Carnival’s chart this morning, and it is currently exhibiting many of the signs we’re after when looking for solid bottom-plays.
Just in the last week, CCL started to come off of being heavily oversold, and the MACD is on the cusp of a bullish cross. Add in the nearly two million dollar pickup by an insider according to a pair of Form-4′s filed last Wednesday, as well as the massive topside gap on the chart, and we are feeling pretty good about CCL as a strong recovery play candidate.
We’re going to radar the CCL 08/02 47-48.50 Calls, which should be in good shape if the stock can approach that gap sometime in the next couple of weeks.
Morgan Stanley MS – Recap
Earlier in the week we highlighted a pair of options calls in the Morgan Stanley chain following the company’s Q3 earnings report on Tuesday, in which it reported a solid beat of Wall Street expectations on profits.
As a result, the MS Weekly $43.50 & $44 Calls that we signaled in our report produced some very nice chances for traders to lock in multi-bag profits.
The $43.50 Calls, from their low of 1.32 reached 4.20, for an intraweek gain of 218% The $44 Calls low came in at .85, and it went on to log a high of 3.65. That worked out to an overall increase of 329%
Fresh Options Ideas
Paypal, Inc. PYPL - The first of our earnings related options ideas to close out the week is going to be Paypal, whose stock saw early gains on the heels of the company’s report which entailed a big boost from the company’s Venmo offshoot. Revenue streams have been growing as Paypal has launched several initiatives within the platform. We are going to be looking at the PYPL Weekly $81-83 Calls* as we close out the trading week.
The Procter & Gamble Co. PG – We’re also looking at PG, which reported on its earnings this morning, and posted it’s biggest growth in sales for the last half a decade. Our idea for this particular play will be the PG Weekly $82-84.50 Calls*
*Please do not attempt to trade options with a weekly expiration on a Friday unless you are an advanced level trader with disposable funds. It’s an extreme risk/reward proposition!
CLF, NIHD, TTGT, JMU, YNDX, CGA, CCL