SPDR S&P 500 ETF (SPY) – Options Recap
If any of our readers had ever been in any doubt as to why we occasionally try to “shoot the moon” with a risky options idea containing weekly expiration contracts on a Friday, then this past Friday’s session answered their questions for good. We try to shoot the moon, because occasionally you can actually hit it! That was certainly the case with the SPY Weekly $238-50-239.50 Calls that we highlighted in Friday morning’s premarket report.
We stated our reasoning behind the idea as having noticed a “promising jobs numbers release, and what seems like it could be a bullish day for the markets as a whole.” It really worked out exactly as we hoped, and because the SPY can be traded 15 minutes into post-market hours we got an extra boost to the monster moves we saw, which were as follows:
$238.50 Calls – Range: .33-1.41 – Max Gain: 327%
$239 Calls – Range: .07-1.00 – Max Gain: 1328%
$239.50 Calls – Range: .01-.47 – Max Gain: 4600%
As you can see, those gain opportunities ranged from really good, to ridiculously good, to full on eye-popping! Cheers to anyone who was along for the ride!
Uni-Pixel, Inc. UNXL
We’ve taken notice of what could be a prime rebound opportunity in UNXL. As you can see plainly on the chart below, the stock bottomed out at the end of last month, and has thus far been building a higher base of support in the month of May.
We’re eager to track this play to see if the trend will continue because if you’ll notice two of our favorite technical indicators on this chart, the RSI and the MACD, both are exhibiting an extremely bullish look at the moment. We’re going to place UNXL on intensive watch, because the party could just be getting started.
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Extra Note: For an added bottom-bounce possibility, we’ll also have California Resources Corp. CRC on our radar, as it just underwent a bullish reversal on Friday, and maintained more than half of its daily gains.
Extended Watchlist:
AMFE, BLDV, FCEL, AXSM, DRRX,
GST, DDR(Potential Bottom-Bouncers)