MasterCraft Boat Holdings, Inc. MCFT – Fresh Idea
We’ve picked up on a very interesting chart shape in Mastercraft this morning. The stock was well on its way to a solid recovery after bouncing off of its bottom at the end of last month. Despite the company’s earnings beat yesterday, the stock saw a gap-down followed by another bottom bounce.
We are interested in tracking the MCFT 10/18 $15-17.50 Calls in the weeks ahead, which will work out quite nicely if the stock manages another rebound similar to the one it exhibited in recent weeks.
Overstock.com Inc OSTK – Recap
The last time we tagged OSTK was a couple of weeks ago, on the morning of August 27th. We had scored some solid opportunities with short-term options in its chain the week before, but that report was a simple tag on the stock itself.
Subsequent to that highlight of OSTK, the stock saw a low of 14.72. That was followed by seven consecutive bull sessions by the stock, including yesterday’s which sent OSTK to a new high 27.38. That works out to an upswing of 86% in the month of September alone.
Fresh Options Idea:
SPY Weekly $301-302.50 Calls*
*Never trade weekly options on a Friday unless you are an advanced level trader with access to disposable funds!
We brought SUNW to our readers in our report on Friday morning, and despite having already spent nearly the whole of April in a steady uptrend, the stock is still making headway here in the month of May.
From the low of 1.264 that was registered on the morning of our initial alert, the stock made its way to 1.97 yesterday, which represents a three-day upswing and total possible gains of 56% for our readers.The stock is now well into blue sky breakout territory, so there’s no telling how much higher it could go, bu we’ll certainly continue to keep an eye peeled.
Fresh Options Idea:
Electronic Arts, Inc. EA – With a solid beat on both earnings and revs, we’re looking to EA this morning on the heels of its quarterly financials drop. Expectations on future guidance from the company have also been exceeded.
We’re going to be focusing on the EA Weekly $98.50-100 Calls in response to the present conditions and activity we are observing here in the premarket.
As our regular readers are well aware, a majority of our focus in recent years has been shifted from straight stock trading ideas to options. More specifically, short-term options in companies that have just reported their quarterly earnings.
We are the absolute best newsletter for options daytrading in existence, routinely providing ideas with multi-bag gain potential each and every week. Our record, which anyone can view at any time in our archives, speaks for itself.
After a huge number of reporting companies just released their quarterlies and several high impact economic reports came back positive this morning, we’re going to revisit some ideas in a few chains that have been good to us in the past:
Biogen, Inc. BIIB has been largely trading sideways since its huge flop on its alzheimer’s drug back in March caused a massive cratering of the stock. We look for large gaps on charts like this, along with signs that a stock has reached its lowest likely trading value. The latter signal, we can infer from the huge blocks of insider buying at current levels which have been reported over the past week. Two Form-4′s amounting to a total of roughly $20M in insider buys suggest that the current base is solid. We’ll look to take advantage of a longer-term idea and track the BIIB 07/19 $240-250 Calls.
ARCA Biopharma, Inc. ABIO
Occasionally we do still provide straight stock ideas as well, when a solid bottom or news play catches our attention. We put ABIO on bottom watch at the end of March when it was trading in the upper-$6 to $7 range. The stock was under steady consolidation for the whole of April, and reached as low as 5.01 just this week before launching into a huge two day uptrend.
Yesterday it reached a new high of 20.45, which marks an overall rise of 308% We also re-tagged it in our premarket report yesterday, and for those that only put it on their radars following that alert, yesterday’s intraday move alone was fairly impressive. It ran from 12.03 up to the previously mentioned high, which marks a one day upswing of 70%
Two of the biggest names jumping out to us off of the earnings calendar this morning are a couple of giants in the retail space, Target and Kohls. We want to formulate some options ideas to correspond with good reports from both companies.
Target Corp. TGT - In the case of Target, the company exceeded expectations on the street for both sales and earnings, while guidance for the remainder of 2019 was promising. That’s just the type pof release we are always looking out for, and we are going to be tracking the TGT Weekly $75-77 Calls on the heels of this report.
Kohl’s Corp. KSS - The story is much the same for Kohls. Beats on profits, sales, and earnings sent shares flying in the premarket, so we want to be ready with an idea here as well. We’ll monitor the KSS Weekly $68.50-70.50 Calls as we head into midweek. _____
SPDR S&P500 ETF (SPY) – Recap
Fresh for yesterday morning, we signaled some daily calls in the SPY, the SPY 03/04 $280.50-282 Calls, and despite a couple of those being too far out of the money to experience significant moves, we did see a nice performance from the $280.50 Calls. Those ran from ,28 up to .50, good for an intraday pop of 82%
Things move pretty fast around here, but we do our best to keep up with tracking on all of the stocks we mention in our daily reports. In certain cases, we see slow buildup, and in others we see a quick rocket to new highs, but in the case of RIOT, we actually got both.
After we highlighted our interest in RIOT roughly two months ago on December 19th, it had been on a rather steady climb, until Friday when the lid blew off the top. Our observed low subsequent to our mention of the stock was 1.29, and Friday’s new high came in at 4.24. That’s a gain of 229% in a span of just eight weeks!
Bristow Group, Inc. BRS
We also wanted to quickly highlight a bottom-bouncer with some real potential to the upside. We ran across BRS this morning, noticing that it had just produced some activity off of a relative bottom.
There is a gap to fill on thwe chart and room to run for some potentially solid gains, so we’ll be keeping an eye peeled for that as we kick off a fresh trading week.