The Greenbrier Companies, Inc. GBX
The first thing that jumped out to us on this morning’s routine market scan was GBX. The only company on the earnings calendar with a market cap of more than a billion dollars, it’s also boasting an attractive bottom setup on the chart.
We’re going to tag the GBX 04/18 $30-35 Calls for observation, which gives us a couple of weeks to see more a rebound from the stock, which just began to rise off of in recent;y established 52-lows.
FRESH OPTIONS IDEAS
SPDR S&P500 ETF (SPY) Weekly $287-288 Calls
Constellation Brands, Inc. STZ Weekly $187.50 Calls
InspireMD, Inc. NSPR
We also will be placing another recently struggling stock in NSPR on bottom watch this morning. With it just having registered new 52-week lows yesterday, it would appear there may be slightly further to fall before a rebound is imminent, if we look at the indicators, but we’ll start tracking it now.
The stock was trading at twice this amount barely over a month ago, so the potential for rapidly recovery is also there.
TROV, CNET, DCAR, CRBP, KIQ
Tesla, Inc. TSLA – Recap
Our fresh options idea for the day yesterday morning was a range of puts in the TSLA chain, on the heels of its poorly-received earnings call. What resulted, as the stock began the session under duress, were some very nice opportunities for us before lunchtime.
Our designated range was the TSLA Weekly $285-277.50 Puts and we happily observed the following solid moves:
$285 Calls – Range: 4.95-10.74 – Max Gain: 117%
$282.50 Calls – Range: 3.92-8.90 – Max Gain: 127%
$280 Calls – Range: 2.94-7.21 – Max Gain: 145%
$277.50 Calls – Range: 2.30-5.78 – Max Gain: 151%
Potential Bottom Plays
Esperion Therapeutics, Inc. ESPR – We like the look of the ESPR chart for a potential extended recovery play. As you can see on the chart the stock has been in quite a bit of trouble over the past few sessions, losing roughly half of its previous value in a matter of just a few days.We’re always looking for heavily oversold stocks in line for the chance at a big rebound.
Iconix Brand Group, Inc. ICON – We also want to add this one to our watchlist. The stock has been pushed way down amid an SEC investigation concerning ICON and a famous partner of the company, award-winning recording artist Jay-Z, and his Rocawear brand.
As you can see below, in addition to a more steady backslide that dates back much further, the stock has really gone into free fall in recent sessions, resulting in a scenario that could produce a significant rebound, which we’ll want to be looking for.
ACAD, FRED, CTRL, CREG, CPHI, SHAK, CNET
General Cannabis Corp. CANN
To kick off this week, we sent out a reminder going over the extensive list of cannabis plays we published on April 4th in anticipation of Friday’s 04/20 Holiday celebrations and connected stock activity.
We expect a rising tide of interest and activity in the cannabis space for the remainder of this week and beyond, during what is one of the busiest times of year for marijuana-related businesses/stocks.
We are already impressed with the move made by CANN since our initial alert and through to this week. On the 4th, following our report, CANN established its base at 2.25 and hasn’t looked back. Yesterday the stock hit 5.75, marking a two week bull run of 156% As we said, we expect to see more moves like this from the myriad cannabis plays we track on a regular basis. (Non-Exhaustive List Here)
vTv Therapeutics, Inc. VTVT
We also want to make note of VTVT this morning after noticing a number of attractive features on the chart. Pre-existing shareholders of VTVT are certainly not happy with the events of the past few months, but as opportunistic short-term traders, it has almost everything we look for a regular basis.
In addition to being monstrously oversold, the stock has seen a rise in average volume over the past week, after a massive gap-down which you can plainly view on the snapshot below. What makes the scenario so interesting, is that the company will need to reattain and hold the 1.00/share or risk involuntary delisting from the NASDAQ. With all these factors playing in, we’ll definitely want to put this one on extended watch in the event it attempts to fill even a portion of that gap.
NFLX, GS, UNH CNIT, CNET, VHC, RKDA, GWPH, KOOL