SPDR S&P 500 ETF (SPY) – Options Recap
Our idea in weekly SPY calls has repeatedly produced this week, continuing the trend from Wednesday with a really nice session yesterday. Each of the three contracts in the our highlighted range of SPY Weekly $204-206 Calls pushed the upper limits and soared to new highs as markets rallied for the third straight day.
On the table below, we’ve included both yesterday’s daily gains, as well as the total increase off of our observed lows from Wednesday (1.45, .87 and .47 respectively):
$204 Calls – Range: 2.59-5.46 – Intraday Gain: 111% – Overall Move: 277%
$205 Calls – Range: 1.68-4.51 – Intraday Gain: 168% – Overall Move: 418%
$206 Calls – Range: .83-3.58 – Intraday Gain: 331% – Overall Move: 662%
Mobileye N.V. (MBLY) - Update
We also had a fresh idea in yesterday’s report, namely the MBLY Weekly $44.50-46.50 Calls. While we didn’t see a full sweep of our observed range in terms of big potential profits, three out of the five sets of contracts recorded sizable intra-session pops, including a monstrous octuple-bagger in the 46′s!
$45 Calls – Range: 1.80-2.50 – Max Gain: 144%
$46 Calls – Range: .31-3.00 – Max Gain: 868%
$46.50 Calls – Range: .70-1.50 – Max Gain: 44%
Netflix, Inc. NFLX – Fresh Options Idea
We’ll go ahead and close out what has been a fruitful trading week for options with one final idea. We’re going to zero in on NFLX Weekly $93.50-95.50 Calls. We’ll need to see NFLX hold above its premarket low of 93.49 on any pullbacks for our interest in these contracts to remain in force, and if this week’s market-wide recovery trend perpetuates, it shouldn’t have much trouble doing so.
*As usual, we’ll warn our less-seasoned readers that messing with weekly options contracts on a Friday is an inherently risky proposition for expert traders only!
Five Star Quality Care, Inc. FVE
We also want to provide a quick update on a stock we tagged for observation in yesterday’s watchlist. While the intraday gains amounted to a modest 14%, we’re going to be keeping an eye peeled for further activity as we head into the long holiday weekend.
If the stock can maintain support above the current 50DMA of 2.13 on any forthcoming consolidations, it will continue to hold our interest.
The following will be on our radars as possible bottom-plays: Sipp Industries, Inc. SIPC & Guided Therapeutics, Inc. GTHP
TPIV, SFEG, AAU, WING, GFI