We are tracking three unrelated yet similar plays as our first area of interest this morning. These are all stocks that have recently recorded a bottom-bounce reversal, with recoveries underway.
Blink Charging Co. BLNK
Kandi Technologies Group, Inc. KNDI
Sorrento Therapeutics Inc. SRNE
We are going to place these stocks on our watchlist moving forward and begin to track their movements in the days and weeks ahead. Their current runs may only just be getting started.
McCormick & Co. MKC – Options Update
We also offered up an options idea in yesterday’s premarket report, targeting the MKC 10/16 $195 Puts, on the heels of the company’s earnings report.
We got some very nice early activity out of that contract, which traded up from a low of 5.84 and went on to hit 12.85. That represents an intraday gain of 120%
Fresh Options Idea:
SPY Weekly $334-335 Calls
CLR, ABCE, PMPG, VPLM, WTII
Novavax, Inc. NVAX – Review
Among all of the plays we’ve covered this year with coronavirus synergies, one of the top picks has definitely been NVAX. We began tracking this stock back in May, with our first mention coming on May 12th. On that day, NVAX changed hands for as little as 36.08. The stock basically never looked back, with that being the lowest price it will have seen since then.
Yesterday, after roughly seven weeks of continuous upward momentum, NVAX has attained a new high of 111.77. That works out to an overall rise of 210% in a span of less than two months! That’s a good move for any stock, but for one that was already above $35, it’s nothing short of amazing.
We have been in a dark period for big name earnings for at least a couple of weeks now, but we are starting to see some large caps reporting again today. The two that are catching our eye most off of the current calendar are SMART Global Holdings, Inc. SGH and The Simply Good Foods Co. SMPL. Both companies posted a convincing beat of expectations on the street.
Here are a couple of corresponding ideas that we can track today and into next week:
SGH 07/17 $25-30 Calls
SMPL 07/17 $22.50-25 Calls
DLOC, IGEN, HDII, COPRF, AEPT, CLR