Blue Horseshoe Stocks: Options Updates

MGM Resorts International Inc. MGM

On Monday morning, we issued a Form-4 alert on MGM after witnessing more than $75M in insider buying at a bottom pour in over the course of the previous three sessions.

We can usually have a fairly high rate of confidence that a stock in this situation will produce a rebound, and so far that’s just what we’ve seen. We signaled the MGM 08/16 $28-30 Calls for tracking, and so far, we’ve seen some pretty nice moves.

$28 Calls – Range: 1.09-1.80 – Max Gain: 65%
$29 Calls – Range: .96-1.32 – Max Gain: 38%
$30 Calls – Range: .68-.95 – Max Gain: 40%

There is plenty of time to continue to look after this idea, which could certainly produce further gains from this point forward.
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Turtle Beach Corp. HEAR

We also added a pair of options contracts to watch in the HEAR chain last Thursday, and while we also have plenty of time to realize added gains in this case as well, the early performance out of these has been noteworthy, especially the $15′s which have already recorded a multi-bag move.

HEAR 10/18 $12.50-15 Calls.
$12.50 Calls – Range: .60-.90 – Max Gain: 50%
$15 Calls – Range: .20-.50 – Max Gain: 150%
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FRESH OPTIONS IDEA: 
Dave & Busters Entertainment Inc. PLAY  07/26 $40-45 Calls 


Ocular Therapeutix, Inc. OCUL – Recap

We also wanted to quickly mention the performance of OCUL since we alerted on the stock last month. It has produced quite a dip and rip since that time, touching a low of 2.38 before running as high as 4.08. That marks a total possible gain of 71% in a span of just over three weeks.



Extended Watchlist:
NETS, TBLT, JILL, HSGX, FBIO, RIOT, INSY(Bottom-bouncer)

Blue Horseshoe Stocks: New Options Plays & More

Turtle Beach Corp. HEAR

This morning to kick things off, we are going to take a look at HEAR, which has gained a bit of momentum over the past couple of sessions after bouncing off a bottom earlier this week. ‘

Technically speaking, the chart has everything we typically look for- a bullish cross of the MACD recently came to pass and we are now seeing clear upward divergence there, and the RSI just cracked the 50-line, indicating that it too is going bullish.

Couple those factors with the convincing surge off of the stock recent relative lows, and we are set up for a possible continuation of momentum, for which we want to be ready with an options idea. We’ll be tracking the HEAR Weekly 10/18 $12.50-15 Calls.

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More Options Ideas

SPDR S&P500 ETF (SPY) Weekly $283-284 Calls
Stitch Fix, Inc. SFIX Weekly $31-30 Puts


Galectin Therapeutics, Inc. GALT – Form-4 Alert

We also want to make mention of GALT, which has been trading sideways near its 6-month lows recently. During this period, we’ve noticed a nearly $20M buy from a GALT insider at these lows.

When this happens we usually like to place a stock on bottom-bounce watch, as it generally tends to suggest that the company director has reason to believe that the stock has reached as low as it’s going to go for the time being.


Extended Watchlist:
AMPG, BOX, TWI, CIEN, ONVO, HIIQ, PBYI, WMGR

Blue Horseshoe Stocks: Form-4 Alert & More

Options Updates 

We offered up a couple of fresh options ideas in yesterday morning’s report, GIS Weekly $37.50 Calls, and the MU Weekly $31-32 Calls. Despite the markets taking yet another hit in the wake of the Fed’s interest rate hike, both of those ideas managed to produce some positive intraday movement prior to the announcement.

The GIS $37.50′s traded up from 1.31 to 1.80, for a modest 37% rise, but the MU calls did considerably better, logging multi-bag gain opportunities:

MU Weekly $31-32 Calls
$31 Puts – Range: 1.03-2.47 – Max Gain: 140%
$31.50 Puts – Range: .70-2.21 - Max Gain: 216%
$32 Puts – Range: .46-1.83 - Max Gain: 298%


Axovant Sciences Ltd. AXON – Form-4 Alert

We routinely keep an eye out for brow-raising insider trading activity, and have run across AXON today. A trio of stakeholders filed Form-4′s on Tuesday alluding to the purchase of a total of $30M in AXON stock in three $10M transactions, at the current relative lows near a dollar. That amounts to over a quarter of the company’s total market value.

To us, this would seem a fairly big indicator that these institutional investors are very confident that the stock will not fall below these levels. We’ll go ahead and place AXON on an extended term bottom-watch into the New Year.


Extended Watchlist:
OHGI, OPTT, YRIV, GMO, PTX, GERN, SBS, NXTD, MARK, HEAR

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Blue Horseshoe Stocks: DRI Recap & More

General Mills, Inc. GS

First up today, we are taking a look at General Mills following the company’s solid quarterly figures on earnings and profits released here in the premarket.

The stock itself has gotten badly beaten up recently, as have most stocks in what is shaping up to be a very turbulent finish to 2018. However, the strong numbers reported could be just the catalyst to effect a convincing reversal. We’re going to be waiting in the wings with our eye on the GIS Weekly $37.50 Calls to try to take advantage of the situation.


Darden Restaurants, Inc. DRI

We highlighted some calls in the DRI chain yesterday, the DRI Weekly $95-105 Calls. Of those three sets of contracts, we got some very nice activity from two out of the three. While the $95′s were too far in the money, the $100′s and the $105′s fared quite well.

The $100 Calls traded up from a low of 2.85 and hit an even 5.00 for a gain of 75% and the  $105′s surged from .65-1.60, producing a gain opportunity of up to 146%


Extended Watchlist:
DFFN, OHRP, ADIL, HEAR, YUMA, CCJ, TROV, ZYNE, RIOT,
MU($31-32 Calls)

Blue Horseshoe Stocks: SGSI News Alert

Spectrum Global Solutions, Inc. SGSI – Update

In our initial report on SGSI, one of the things we commented on liking most about SGSI is the rapidity with which the company has been pulling down new clients and growing its business in 2018. This morning, we’re going to start things off by relaying a new PR to that effect on to our readers.

(GLOBE NEWSWIRE) — Spectrum Global Solutions, Inc. (OTC:SGSI) (the “Company”), a single-source provider of end-to-end next-generation wireless and wireline network services and staffing solutions to the service provider (carrier) and corporate enterprise markets, today announces that it has received over $500,000 in new contract awards to support carrier network upgrades across the United States. (>>View Full PR)

Did you miss our special report on SGSI last Monday? Check it out now at the following link:

>>View SGSI Report<<



Fresh Options Ideas:

Those readers who are familiar with our mode of operation know that a good post-earnings options play is something we’re always on the lookout for, and we’ve got a couple of those for you this morning. It has been a crowded 24-hours of earnings releases and the two that are sticking out to us this morning are Dick’s Sporting Goods (Bull) and Tiffany’s (Bear).

We’ll submit a set of ideas for each of these chains to track into the end of the week:

Dick’s Sporting Goods, Inc. DKS Weekly $36-38 Calls
Tiffany & Co. TIF Weekly $95-92 Puts



Extended Watchlist:
ASX, NSPR, MARA, ACAD, HEAR, IPCI, SLS