Blue Horseshoe Stocks: MIK Options & More

SPDR S&P500 ETF (SPY) – Recap

We went bullish on the SPY in our premarket report yesterday, and thanks to two distinct intraday pushes for the markets, there were opportunities across the board for our highlighted contracts throughout the session.

Those targets were the daily SPY 03/18 $281-282 Calls, and we saw significant moves from all three. The $281.50 Calls traded in a range from .34-1.06 for an overall upswing of 212% while the $282′s traded up from .15 to .58, a gain of 287% (We mistakenly lost exact data for the $281 calls, but the gain opportunities were very similar to those of the other two strike points.) 


The Michaels Companies, Inc. MIK

We also want to signal a set of contracts on MIK, which was the one listing on this morning’s earnings calendar that jumped out to us the most. Michaels posted an earnings beat, but also happens to be trading near its annual lows.

We’re going to approach this like we would any other play with bottom-bouncer written all over it, by signaling some longer-term calls to give ourselves some extra time to see the recovery play out. We’re going to radar the MIK 04/18 $12.50 Calls and monitor their activity in the days and weeks ahead.
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Bonus Idea:
STNE 04/18 $37.50-39 Calls


Extended Watchlist:
FPAY, CPST, INSY, TROX, CPST, NCTY, SDRL, CREG, LGCY, AKER, PIR

Blue Horseshoe Stocks: MMM Update & More

3M Co. MMM – Update

Fresh for yesterday morning’s report, we decided to highlight some MMM calls on the heels of the company’s earnings report, so we put the MMM Weekly $195-202.50 Calls on the radar.

Thanks to a solid intraday performance wherein the stock ran from a low of 194.20-199.89, there were some huge intraday moves from for traders to take advantage of promptly following the opening bell, which were as follows:

$195 Calls – Range: 2.24-6.00 – Max Gain: 168%
$197.50 Calls – Range: .67-4.34 – Max Gain: 548%
$200 Calls – Range: .71-2.80 – Max Gain: 294%
$202.50 Calls – Range: .27-1.55 – Max Gain: 474%

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Fresh Options Ideas:
AAPL Weekly $160-162.50 Calls
SPY Weekly $264-265.50 Calls



TrovaGene, Inc. TROV – Review

We last mentioned TROV on December 18th, and at the time the stock was trading down to an annual low of .503. Since then, we’ve seen a slow and steady recovery, which was kicked into a higher gear yesterday following news of Trovagene and PoC Capital entering an agreement to fund the development of Onvansertib in Metastatic Colorectal Cancer.

The stock ended up hitting .73, marking a 45% rise since we mentioned it. We will want to continue monitoring TROV for further advances from this point forward.


Extended Watchlist:
STAF, CREG, CRMD, EKSO, RGS, CLF, TOPS, WFT, ZYNE, IBN

Blue Horseshoe Stocks: Options Recap, Form-4′s

Campbell Soup Co. CPB

After Campbell’s beat on earnings, we formulated an options idea in yesterday’s premarket report to go along with the activity we were observing. Our targets were the CPB Weekly $38.50-40.50 Calls, and despite a down day for the markets in general, CPB produced just the right performance to allow for some really nice gains.

Every single one of the five contracts contained within our designated range produced a big opportunity for quick profits.

$38.50 Calls – Range: 1.50-2.94 – Max Gain: 96%
$39 Calls – Range: .91-2.52 - Max Gain: 177%
$39.50 Calls – Range: .83-2.05 – Max Gain: 147%
$40 Calls – Range: .55-1.80 - Max Gain: 227%
$40.50 Calls – Range: .40-1.40 – Max Gain: 250%
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Fresh Options Idea:
ADSK Weekly $131-133 Calls


Form-4 Alerts

Aside from earnings-related options ideas, we also routinely scan for Form-4 submissions indicating insider buying on stocks that are at or near a relative low. We also look for stocks whose charts have large gaps to fill to the upside.

Both of the following stocks we’re placing on bottom watch here check all of those boxes, as you can see on the included side-by-side charts. We’ve also formed a corresponding options idea for both:

Zillow Group Inc. Z
01/18 $30-40 Calls

Coty, Inc. COTY 
01/18 $8-10 Calls


Extended Watchlist:
SGSI, INPX, FPAY, BJ, TAOP, NVLN, CREG, PAGS, CMCM, BZUN, NBEV

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Blue Horseshoe Stocks: TSLA Review & More

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.


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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.


Extended Watchlist:
ACAD, FRED, CTRL, CREG, CPHI, SHAK, CNET

Blue Horseshoe Stocks: Bottom-Watch Play & More

Synergy Pharmaceuticals Inc. SGYP – Bottom Watch

We noticed SGYP start to sell off rapidly last week, after a poor earnings report and the pricing of a public offering on the stock with shares being offered at 2.58. Combined with the start of tax-loss selling season, and SGYP has approached extreme oversold territory.

We’ve now begun to take interest in this as a bottom watch play to monitor for a rebound in coming sessions, and it could ultimately be quite a recovery. We’ve got a stock that was trading for nearly seven dollars a share at the beginning of this year, beaten all the way down to new annual lows. If SGYP were to regain even a portion of the ground it’s lost in recent months, it would be worth our time to track it.


Wal-Mart Stores, inc. WMT – Options Idea

Looking at this morning’s premarket earnings calendar, it was WMT that jumped out at us the most, with a solid beat, and heightened guidance propelling the stock to a moderate gap up at the moment.

We’re going to formulate a quick options idea to try to take advantage of the situation. Walmart has been exceptionally bullish for most of this year, and is currently soaring into blue skies, setting a new annual high with every uptick.

We’re going to put the WMT Weekly $92-96 Calls on watch for the remainder of the week.


Extended Watchlist:
SRNE, MD, ADMP, QRHC, CREG, MD, RIOT, AFMD