Tag: FIT

Blue Horseshoe Stocks: New Options Ideas, Rebound Play & More

JC Penney Company Inc. JCP – Options Review

If you recall yesterday’s premarket report, we were targeting some JCP options calls to play off of the anticipation of this morning’s earnings release. Our idea returned some nice opportunities for intraday gains. We were specifically looking to the JCP Weekly $8.50 Calls for these chances, and those contracts traded in a range from .39-61 during yesterday’s session. That made it possible for traders to bank up to 56% in intraday profits.

As for JCP’s Q3 earning release, expectations were exceeded and yet the stock is still down considerably in the premarket. Many people are citing an overall struggle for the retail sector as a whole this quarter as the reasoning behind some of the less-than-spectacular performances we’re seeing.

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Fresh Options Ideas:

To finish out the week, we’ll formulate a couple of quick-strike options ideas to correspond with the general sentiment of the markets this morning. Stocks have been continuing to struggle, presumably due at least in part, to the uncertainty of a potential rate-hike next month. As a result the UVXY (can be thought of as a ‘market fear’ indicator)  just made its biggest move of the past few weeks and looks like it wants to head higher this morning.

To play into this potential trend we’re going to flag both the UVXY Weekly $33-35 Calls, and the SPY Weekly 205-203.50 Puts for potential daytrading action.

Of course, if the markets pull a head-fake and appear as if they to want to rally, we can always jump to the other side of the fence with each idea. In that case we’d be observing the same strike prices, only with UVXY Puts and SPY Calls.

Bonus Idea: FIT Weekly $30 and 29 Puts

MannKind Corp. MNKD

We’re also going to put MNKD on watch in sessions to come; the stock established a new 52-week low on Wednesday, and followed that up with a significant rebound yesterday.

We’ll be on the lookout for the recording of higher highs and higher lows and a testing of key resistance at the 50DMA of 3.26, which from current levels, would spell a solid gain of 25% in and of itself.

Extended Watchlist:
ARCS, ADCF, TDEY, URBF,

Blue Horseshoe Stocks: Options, Bottom-Plays & More

OncoNova Therapeutics, Inc. ONTX

ONTX is hitting the scanner as a premarket gapper this morning, on the heels of a PR announcing a “pivotal” Phase III drug trial. (>>View PR)

The stock’s 1-year analyst price target of $5 doesn’t seem all that far-fetched, especially if ONTX can break past resistance in the channel between 3.00-3.25 as we’ve outlined on the following chart snapshot. Also looking ripe are the RSI which is creeping toward the 50-line, and the MACD in the midst of bullish cross.

We’ll continue to keep an eye on the stock today and into next week.

Tesla Motors, Inc. TSLA – Options Idea

To carry on our recent tradition of presenting weekly options ideas on Friday (which has yielded us some truly epic gains), we have TSLA. Remember, trading weekly contracts so close to expiration carries added risk, so we always need to exercise extra caution when doing so.

The stock is responding well to news that the company’s share offering would be increased to nearly 2.7M shares, or $642.5M. As a result of this increased activity, we’ve identified the range in which the heaviest action is likely to occur in the event of a sustained uptrend.

Our main target area will be TSLA Weekly $242.50-247.50 Calls. We’ll of course begin with the lowest strike price, which is currently in the money, and roll it up from there as needed, depending on how the day’s trading activity unfolds.

Potential Bottom-Play

Pacific Sunwear of California, Inc. PSUN – We also want to quickly make mention of PSUN, which we’ve noticed has come down to new 52-week lows. As our regulars our well aware by now, these sorts of plays have been an area of extreme success lately. Just take a look at the chart to see what we mean. This is a stock that is sorely due for a rebound, and we intend to be watching closely for when that occurs.

Extended Watchlist:
PBMD, AREN, FIT

Blue Horseshoe Stocks: Celebrating Four Great Years!

Options Wrap-Up

We’ve been going heavy on our options tracking this week, and have unearthed some real gems as usual. To close things out today, we’ll identify a couple of things to watch for once action commences. 

Apple, Inc. AAPL – To reiterate our AAPL idea, we were tracking the stock and observing for a bottom early this week, which it found Wednesday. It led to some impressive gains in the Weekly $115 Calls, and those are the contracts that we’ll watch for added activity. *Remember: Trading in options with a weekly expiration on a Friday carries an elevated risk/reward dynamic.
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First Solar, Inc. FSLR – Earlier this week we saw intraday gains running from 188-579% from our FSLR ideas. We’ll roll our previous tracking range ($47-50.50) on Weekly FSLR Calls up to the $51-52 Level.
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FitBit, Inc. FIT – We’ve witnessed gains approaching the 100%-mark from Weekly FIT Calls in prior sessions, but today we’re going to enter a longer-term idea into the log for extended observation. We’re interested in the FIT September 18th $64 Calls.

Sub-Penny Bottom-Watchlist

Stragenics, Inc. ASAB & Pervasip Corp. PVSP

As you can see from the side-by-side snapshot below, each of these .0008-stocks appear ready to rebound off of their recent relative bottoms, and we’ll want to be paying close attention when they do. Especially in the case of PVSP; a play that we tracked over a monster run from late-June, early-July.

American Green, Inc. ERBB

We’ve been familiar with this stock since back when it was still trading as Tranzbyte Corp., although 2015 has been a near-constant downslide for the stock. One look at the chart and it’s self-evident.

It did however, respond to the logging of a new 52-week low on Wednesday with a higher low for yesterday’s session, so we’ll want to see if it can continue to establish a higher base of support. A rebound could be forthcoming at any time, so we’ll re-submit this to our running watchlist.

SPECIAL NOTE:

Today we are celebrating the 4th anniversary of Blue Horseshoe Stocks. It’s been a great ride so far, and we can’t wait for all the great things the future holds! Our thanks go out to our many valued subscribers and readers from around the globe for your continued support! Without you we’d have no reason to do what we do, so, Happy Birthday to the entire Blue Horseshoe Stocks community, one and all!