Blue Horseshoe Stocks: Fresh Options Ideas

Fresh Options Ideas

We’re going to start off the new trading week by identifying a couple of options ideas we’re seeing based on the chart setups of Under Armour Inc. (UAA) and CSX Corp (CSX).

In both cases, the stocks have been on a bit of a backslide, but went on to record bullish sessions on Friday. We’re going to look for confirmed reversals on both of these, and be ready with some options ideas if they can establish more sustained rebounds. On each chart, there are gaps to the upside, which is another thing we look for.

For Under Armour, which is giving off a strong multiple-bottom signal, we’re going to track the UAA 09/01 $17-19 Calls, and for CSX Railroads, we’ll want to look after the CSX 09/01 $51-53 Calls.


ImmunoGen Inc. IMGN

We also want to keep IMGN on our radars as we kick things off this week. We signaled it in Friday’s premarket report and it had a modest yet solid session on the heels of an earnings beat. We saw a low of 6.29, and this morning in early trading the stock has reached a high of 7.41.  While that’s only an 18% rise at the moment, we’ll want to keep an eye peeled for another bullish session.


Extended Watchlist:
ACRX, CDRBQ, DVAX, NVIV, MYO, XXII, NXTD, CYTR,MNGG

Blue Horseshoe Stocks: Options Roundup & More

Best Buy Co. Inc. BBY

Our primary area of focus in terms of fresh picks in yesterday’s premarket report was in post-earnings options ideas, and essentially everything worked out in our favor, beginning with our ideas for the Best Buy chain, which were the BBY Weekly $55-58 Calls.

All seven sets of contracts in our highlighted range gave traders a chance at HUGE multi-bag gains on the day ranging from a triple all the way to a TWELVE-bagger! 

$55 Calls
– Range: 1.60-6.90 – Max Gain: 341%
$55.50 Calls – Range: 1.12-6.19 – Max Gain: 453%
$56 Calls – Range: 1.00-5.80 – Max Gain: 480%
$56.50 Calls – Range: .61-5.21 – Max Gain: 754%
$57 Calls – Range: .50-4.90 – Max Gain: 880%
$57.50 Calls – Range: .35-4.12 – Max Gain: 1077%
$58 Calls – Range: .29-3.97 – Max Gain: 1269%


Abercrombie & Fitch Co. ANF

Our ANF calls didn’t disappoint either, despite the fact that Abercrombie’s was a much more mixed earnings release.  We said we’d be looking at the ANF Weekly $13 & $13.50 Calls, and saw some solid moves out of both.

The $13 Calls ran from .63 to 1.05 for an intraday push of 67% while the $13.50′s traded in a range from .35-.50, posting an intraday pop of 43%

Based on the present look of the ANF chart, we’ll still want to track these plays heading into the long weekend, but be forewarned, dealing with weekly options contracts on a Friday is for expert traders ONLY!

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Big Lots, Inc. BIG – Fresh Idea

We’ve had so much options trading success this earnings season, there’s no reason not to add in a couple more fresh ideas before we break for the holiday weekend. 

Big Lots beat on profits and raised guidance in its premarket release today. With no weekly contracts to look at, we’ll put the BIG 06/16 $55 & 57.50 Calls on watch in the weeks ahead.

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ULTA Beauty, Inc. ULTA - This play is gapping up hard after its own earnings beat yesterday. We’ll want to keep an eye on the ULTA Weekly $302.50-310 Calls (Again, to be considered by expert traders only)



Coin Citadel CCTL

We offered up a few bitcoin related stocks to watch yesterday in light of the hysteria over bitcoin reaching all-time highs, and the one that outperformed the rest turned out to be CCTL.

Its volatile swings provided solid chances in both the morning and afternoon. First it ran from .0004 to .0007 (+75%), followed by a pullback to .0003 and subsequent 100% run-back to .0006.


Extended Watchlist:
OTTV, GLBS, SINO, DVAX, CYTR, ZSAN, SHLD

Blue Horseshoe Stocks: SNDX Recap, Options & More

Syndax Pharmaceuticals, Inc. SNDX

Despite the markets getting crushed yesterday we managed to find and tag in our premarket report, what would ultimately be the NASDAQ’s top gainer of the day. SNDX had been gradually coming up off a bottom in the few sessions prior, but yesterday things really kicked into gear.

It traded in a range from 10.76 to 15.335, a fantastic intraday move of 43% which is really impressive for a $10+ stock. That move inside of the first 90 minutes of the session. That was followed by a dip-and-rip pattern from 12.16 and back to 13.62; a 12% rebound into a strong close at 13.58

The stock traded 56x its 30-day average volume yesterday, and held more than half of its daily advance, so we’ll be treating this as a potential momentum play as we head into week’s end, looking out for higher highs and higher lows out of SNDX.


Fresh Options Ideas

Speaking of the markets getting crushed, it appears as if we may see a continuation of that pattern today, so we want to have a few sets of options ideas to fall back on in the event of a continued slide.

Alibaba Group Holding Ltd. BABA – BABA had been on an incredible bullish run for the better of part of 2017 thus far as you can plainly see on the chart snapshot we’ve included here. You can also see that the strength index is sharply declining after having recently been indicating the stock was extremely overbought.  We can also see the MACD pinching toward a bearish cross.

That’s why, along with an earnings miss in the premarket and the overall current of the markets as a whole, we’re looking at the BABA Weekly $120-117 Puts for potential quick-strike swing trades.


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SPDR S&P 500 ETF Trust (SPY)  – Also in the vein of our general bearish view of today’s overall conditions, we want to line up a set of SPY Puts for observation. Our regular readers know that the SPY is one of our favorite market analogs, and has been a wellspring of gains for us on the options front when we correctly gauge investor sentiment.

Today we want to put the SPY Weekly $237-235 Puts on watch, as a sustained tumultuous period for stocks would likely produce some good chances for us there.


Extended Watchlist:
P, GLYC, CYTR, ETRM, XGTI, VSLR

Blue Horseshoe Stocks: Weekly Wrap-up, Fresh Ideas

Evoke Pharma, Inc. EVOK

Leading into yesterday’s session, some people might have looked at a gapped-down, backsliding, new 52-week low play like EVOK, and dismissed it out of hand. Those people would have missed out on the prime opportunity we provided our readers in tagging the stock for observation in yesterday’s premarket report.

Whenever we see a stock showing any indication of bounce activity off of an annual low, it puts us on high alert, and plays like EVOK are the reason for that. The stock traded in a range from 2.51 up to 3.28, a solid single-session swing amounting to 31% and it appears as if the massive gap on the chart beginning at 3.50 is already in the process of being filled, with the stock trading as high as 3.70 in early trading this morning.

We want to see the premarket low of 3.15 hold as support on any pullbacks in order to sustain our immediate interest in EVOK.

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Added Notes:
Tokai Pharmaceuticals. Inc. TKAI and CytRx Corp. CYTR – These plays are currently boasting charts that are incredibly similar to the situation we found EVOK in yesterday, with major gap-downs leading to new lows, with a hint of bounce activity in yesterday’s session. We’re going to place these stocks on alert this morning as well.


Tempur Sealy International, Inc. TPX – Options Idea

Yesterday, as we caught TPX coming off of an earnings beat, we wanted to put a range of call contracts on watch to leverage the expected subsequent activity to our advantage. Due to the fact that there were no weekly calls to track, we submitted a longer-term set of contracts, yet the gain opportunities were immediate.

Our target calls, the TPX 08/19 $70-80 Calls, all made appreciable moves on the day:

$70 Calls – Range: 3.00-5.40 – Max Gain: 80%
$75 Calls – Range:  .90-1.96 – Max Gain: 118%
$80 Calls – Range: .25-.40 – Max Gain: 60%

We’ll continue to monitr these plays in the week ahead leading into their expiration.

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Fresh Idea:
Expert traders may want to take a look at AMZN Weekly $762.50-770 Calls for potential daytrades today on the heels of yesterday’s post-market earnings beat.


North Springs Resources Corp. NSRS

NSRS was also an item of interest from yesterday’s report, having been entered into the extended watchlist as a potential bottom-bouncer. We got just the type of rebound we were after, as the stock traded up from a low of .033 to a high of .043. That was good for a nice 30% gain opportunity, and the stock will remain on our radar provided it can continue to build a higher base level of support off of its bottom.


Extended Watchlist:
DNRG, SING, VHUB, SPHS, SPU, MCRB(Watching for Bottom)

Blue Horseshoe Stocks: SITO News & More

SITO Mobile Ltd.  SITO

Popping up on our scanner this morning is SITO, which, per a premarket PR (excerpt below) released this morning, has entered into an asset purchase agreement with Hipcricket (HIPP).

Upon approval, this deal will create in SITO, one of the largest mobile ad/marketing firms in the industry. This also comes in the wake of what has apparently been a good year for the company. According to SITO’s CEO, 2014 was “a transformative year… which included 27% year-over-year revenue growth”.

These are all reasons why the fact that we’re catching SITO coming off of its 52-low could carry some potentially exciting opportunities on the chart. We’ll have our eyes peeled for further updates on the progress of the deal as we tag SITO for monitoring in the days and weeks ahead.

JERSEY CITY, N.J., Jan. 21, 2015 (GLOBE NEWSWIRE) — SITO Mobile Ltd. (SITO), a leading mobile engagement platform provider, announced today that it has entered into an asset purchase agreement (“Agreement”) with Hipcricket Inc. (HIPP), the leader in mobile engagement and analytics, for $4.5 million in cash, to acquire substantially all of its assets. Hipcricket reported revenues of $26.7 million for the fiscal year ended February 28, 2014 and currently holds 21 U.S. patents covering technology inventions. >> FULL PR


Medican Enterprises, Inc. MDCN

Speaking of plays coming up off of their annual lows, MDCN represented a feat of perfect timing for us yesterday. We noted that the stock had reached its lowest point of the past year on Thursday, and the rebound offered up the chance at a 57% intraday move to kick off yesterday’s trading session.

Beginning from an early low of .023, the stock surged as high as .036 around 11am, with the bulk of the day’s volume (which exceeded the monthly average by threefold) having traded in that time frame.

Congrats go out to any of our readers who were able to reap a profit off of that excellently-timed call of MDCN!

We’re interested to follow the main MDCN storyline, being the recently announced purchase of a 7200sq.ft. commercial facility and dispensary in Phoenix, AZ. We’ll be certain to relay any developments as they come down the pipe.



Netflix, Inc. NFLX – Options Ideas

NFLX continues to surge on yesterday’s after-hours earnings beat in this morning’s premarket activity, and it sets us up nicely for a possible play on some options calls.

What we’d expect to see is some early profit-taking, causing a classic dip-and-rip, and thereafter we’ll be looking to take advantage. Provided the stock holds support above today’s premarket low of 394.80 we’ll be paying close attention to the  $395-410 Calls for possible intraday/intraweek flip opportunities.

Side Note: GPRO is also bouncing off a recent bottom, and has our attention as a solid recovery play, therefore we will want to radar call options there as well.


Extended Watchlist:
SCOK, ANV, CYTR, AUY, IAG, AMLH