AcelRx Pharmaceuticals, Inc. ACRX
We want to circle back around to ACRX this morning to give an update on its recent performance following our most recent tag of the stock on Monday of last week. We observed ACRX shares changing hands for as little as 2.80 that day, and the stock has been on a pretty nice run since then.
ACRX logged a solid session yesterday which allowed it to reach a new high of 3.65, marking an increase of 30% in a span of one week. More importantly, the stock closed at its new high, on heightened volume and is gapping up this morning, so we’ll definitely want to be on the lookout for further activity on this play, which is now trading at its highest PPS since October.
Post-Earnings Options Ideas
We usually have pretty good fortune when using the heightened activity that generally follows an earnings beat to find solid short term options ideas.
Today, Caterpillar and McDonald’s are the two big names making waves in the premarket, so we’ve formulated a range of interesting contracts in each chain to track as we head into midweek.
For Caterpillar, we’ll be looking at the CAT Weekly $111-114 Calls, and for McDonald’s, the MCD Weekly $152.50-155 Calls for potential quick-strike trades.
AK Steel Holding Corp. AKS
We want to put AKS on a longer-term watch after the company’s own solid beat on expectations for its Q2 earnings, as well as a recent upgrade from ‘Neutral’ to ‘Buy’ by Longbow Finance.
The potential for big tariffs on international steel being imposed in coming weeks is also present, and has been adding fuel to the furnace, so to speak, for steel stocks. A confirmation of those tariffs would certainly provide a boost that could send AKS higher.
GNCA, BKS, GEVO, TNTR, TEUM, DCIX,