More Options Recaps
If it seems like we spend a lot of time going over options plays we’ve highlighted, it’s because our ideas are constantly turning in incredible performances.
Yesterday, after going over some prior wins, we offered up ideas for PLCE and CHWY, and sure enough, those were solid movers too. The following opportunities were there for the taking in those plays:
PLCE Weekly $61-59 Puts
$17 Puts – Range: 4.35-7.10 – Max Gain: 63%
$16 Puts – Range: 2.35-6.70 – Max Gain: 185%
$15 Puts – Range: 2.30-5.20 – Max Gain: 126%
CHWY Weekly $25.50-26 Calls
$25.50 Calls – Range: 1.05-2.13 – Max Gain: 103%
$26 Calls – Range: .80-1.64 – Max Gain: 105%
Fresh Options Idea:
We’re going to place the Lumber Liquidator Holdings, Inc. LL Weekly $9.50-10 Calls on watch, with the express understanding that if the stock manages to breach its 200DMA of 10.20, that we will want to roll up to include the $10.50’s as well.
LMPX, AMRX, RTTR, JAGX, CIEN
Turtle Beach Corp. HEAR
This morning to kick things off, we are going to take a look at HEAR, which has gained a bit of momentum over the past couple of sessions after bouncing off a bottom earlier this week. ‘
Technically speaking, the chart has everything we typically look for- a bullish cross of the MACD recently came to pass and we are now seeing clear upward divergence there, and the RSI just cracked the 50-line, indicating that it too is going bullish.
Couple those factors with the convincing surge off of the stock recent relative lows, and we are set up for a possible continuation of momentum, for which we want to be ready with an options idea. We’ll be tracking the HEAR Weekly 10/18 $12.50-15 Calls.
More Options Ideas
SPDR S&P500 ETF (SPY) Weekly $283-284 Calls
Stitch Fix, Inc. SFIX Weekly $31-30 Puts
Galectin Therapeutics, Inc. GALT – Form-4 Alert
We also want to make mention of GALT, which has been trading sideways near its 6-month lows recently. During this period, we’ve noticed a nearly $20M buy from a GALT insider at these lows.
When this happens we usually like to place a stock on bottom-bounce watch, as it generally tends to suggest that the company director has reason to believe that the stock has reached as low as it’s going to go for the time being.
AMPG, BOX, TWI, CIEN, ONVO, HIIQ, PBYI, WMGR
Retail Earnings Ideas
Two of the biggest names jumping out to us off of the earnings calendar this morning are a couple of giants in the retail space, Target and Kohls. We want to formulate some options ideas to correspond with good reports from both companies.
Target Corp. TGT – In the case of Target, the company exceeded expectations on the street for both sales and earnings, while guidance for the remainder of 2019 was promising. That’s just the type pof release we are always looking out for, and we are going to be tracking the TGT Weekly $75-77 Calls on the heels of this report.
Kohl’s Corp. KSS – The story is much the same for Kohls. Beats on profits, sales, and earnings sent shares flying in the premarket, so we want to be ready with an idea here as well. We’ll monitor the KSS Weekly $68.50-70.50 Calls as we head into midweek.
SPDR S&P500 ETF (SPY) – Recap
Fresh for yesterday morning, we signaled some daily calls in the SPY, the SPY 03/04 $280.50-282 Calls, and despite a couple of those being too far out of the money to experience significant moves, we did see a nice performance from the $280.50 Calls. Those ran from ,28 up to .50, good for an intraday pop of 82%
LB, CIEN, RTTR, IDEX, CTRP, DCAR,