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)