After considerable options success earlier in the week, we doubled down on a couple of our mid-week ideas in TGT and CGC, adding higher strike ranges to keep an eye on. In both cases, our updated ideas from yesterday morning’s premarket report yielded significant intraday gain opportunities.
We highlighted the TGT Weekly $126-128 Calls, which came up with the following intraday moves:
$126 Calls – Range: .80-2.06 – Max Gain: 157%
$127 Calls – Range: .52-1.31 – Max Gain: 152%
$128 Calls – Range: .27-.73 – Max Gain: 170%
The updated highs on our targets from Wednesday on the CGC Weekly $15.50-16.50 Calls were considerably greater than the previous session:
$15.50 Calls – Range: .43-5.57 – Max Gain: 1195%
$16 Calls – Range: .36-5.50 – Max Gain: 1427%
$16.50 Calls – Range: .35-4.85 – Max Gain: 1286%
Our updated ideas, the CGC Weekly $18-18.50 Calls also put up impressive multi-bag performances on the day:
$18 Calls – Range: .87-3.40 – Max Gain: 291%
$18.50 Calls – Range: .63-3.15 – Max Gain: 400%
Fresh Options Ideas
FL Weekly $42-43.50 Calls
SPLK Weekly $134-138 Calls
ADXS, CTST, TOPS, CELH, WTRH, GLBS, MVIS
Apple, Inc. AAPL -Options Idea
Apple has been getting beaten back over the past several sessions, even as the company unveiled new product upgrades in Apple TV+, Apple Arcade, and the Goldman Sachs/Mastercard-powered Apple Card. We will look for a rebound on the heels of some relief in the Apple camp over the company’s international dispute with Qualcomm currently under review at the International Trade Commission.
We’re going to radar the AAPL Weekly $187.50-190 Calls and track the activity there for the rest of the week. The stock has been especially volatile on a daily basis over the past week, as compared to the previous couple of months. It could lead to some sizable opportunities for us.
More Fresh Ideas
Shoe Carnival, Inc. SCVL – The setup on Shoe Carnival couldn’t be much better at the moment. The stock had come down to its lowest prices since last year prior to yesterday’s big post-market earnings beat.
We are going to want to put some contracts in this chain on watch as well- particularly, the SCVL 04/18 $35-40 Calls.
Centene Corp. CNC – Centene just got pushed down well below what appeared to be a strong double bottom, and is now trading at new 52-week lows. We’re going to begin monitoring on a longer-term basis for an eventual recovery, with the CNC 09/20 $50-55 Calls.
EVLV, TBLT, AVEO, SXTC, CTRM, AYTU, FCSC, GLBS
SPDR S&P500 ETF (SPY)
We were all over the SPY last week, scoring some big chances for profits early on with some calls, and then flipping to the bearish end of things with some puts on Friday, which also happened to work like a charm. We played the SPY like a fiddle, and the potential returns were considerable.
Our targets were the SPY Weekly $263.50-262 Puts, and each of the four contracts contained within that range provided traders with huge gain opportunities, which were as follows:
$263.50 Puts – Range: .75-3.50 – Max Gain: 367%
$263 Puts – Range: .59-3.10 – Max Gain: 425%
$262.50 Puts – Range: .45-3.07 – Max Gain: 582%
$262 Puts – Range: .34-2.16 – Max Gain: 535%
Johnson & Johnson JNJ
We want to place JNJ on longer-term rebound watch today as the stock took an absolute plastering on Friday with roughly a $15 dip. Three separate insiders filed Form-4’s on Friday indicating share purchases at those lows. That is as good an indicator as any that belief is high in JNJ getting back on track in the near future.
We’re going to put the JNJ 01/25 $135-140 Calls on watch in the days and weeks ahead, as a recovery of some degree does not seem far off for JNJ.
GLBS, IDRA, JACK, YRIV, GSAT(Bottom Play)