Blue Horseshoe Stocks: Fresh Options Ideas & More

India Globalization Capital, Inc. IGC – Update

As we were mentioning yesterday morning, ICG was a near-perfect bottom call we made roughly three weeks ago in our report on September 10th and thereafter we would observe a low of 1.03.

For the past couple of weeks the stock has been on fire, gaining ground by leaps and bounds, and yesterday it recorded yet another huge session. From a daily low of  9.50 the stock ran to a new high of 14.58, for an intraday gain of 53%

From our initially observed low midway through last month, that marks an overall increase of 1316% Cheers to any of our readers who have been in on this mega-runner!


Tesla Inc TSLA – Recap

Yesterday morning we mentioned that our idea from Tuesday morning, the TSLA Weekly $300-310 Calls, most likely stood to gain even more ground based on the stock’s premarket activity.

As it turned out, we were absolutely correct, with each of the five contracts we designated as items of interest extending their highs on the day. Here are the updated figures from Tuesday’s session through yesterday’s closing bell:

$300 Calls – Range: 11.10-18.60 – Max Gain: 68%
$302.50 Calls – Range: 10.00-16.25 – Max Gain: 62%
$305 Calls – Range: 8.65-15.30 - Max Gain: 77%
$307.50 Calls – Range: 7.70-13.45 – Max Gain: 75%
$310 Calls – Range: 6.60-12.00 – Max Gain: 82%

Tesla is gapping up today and looks to be ready to push these contracts deep in the money, so we’ll expect to see these ranges and possible gains extended even further from here.
_____

Fresh Options  Ideas:
Petroleo Brasiliero S.A. (Petrobras) PBR Weekly $13.50 & $14 Calls
Marriot Vacations Worldwide Corp. VAC 11/16 $105-115 Calls


Extended Watchlist: 
BRFS, KNDI, INNT, TPX, CRBP, VTGN, TROV

Blue Horseshoe Stocks NKE Bear, KMX Bull & More

Earnings-Related Options Ideas

Our regular readers know that quick-strike options trading of plays that have just seen their quarterly earnings releases are among our favorite scenarios. The volatility afforded to us by these events is key to the type of opportunities we are commonly after.

This morning, we have NKE which has untraded-upon earnings reported in the post-market yesterday, and Carmax which dropped its report in the premarket today. We’ve got a set of bearish ideas for NKE and bullish ideas for KMX.

We’ll place the following targets on our watchlist today to monitor throughout the remainder of the week:

CarMax, Inc, KMX Weekly $77-79 Calls
Nike, Inc. NKE Weekly $83.50-81.50 Puts

_____

L.B. Foster Co. FSTR

We also have a longer term idea for the FSTR chain. As you can see on the chart snapshot we’ve included below, the stock is presently exhibiting a strong multiple-bottom.

We’re going to place the FSTR 10/19 $22.50 & $25 Calls on watch in the likely event that a recovery does occur.


Extended Watchlist: 
MYSZ, TTOO, GPRO, GLBS, TTNP, INNT, DCIX, ONTX

Blue Horseshoe Stocks: NFLX Bearish & More

Netflix Inc. NFLX – Options Idea

The main thing hitting our scanners this morning is NFLX, following the company’s post-market earnings report yesterday. Usually when we deal with NFLX, we’re talking about ideas for the stock rising, but today, we’re going bearish on NFLX for a couple of reasons.

First, not only did its Q2 revenues fall short of expectations on the street, but the company’s weak subscriber growth numbers are causing worry as well. While this may only be a temporary lapse for NFLX as the company hasn’t made it a habit of misses on consecutive earnings reports in the past, we do want to form a short term bearish idea for the options chain.

Secondly, from a technical standpoint, the NFLX chart is exhibiting a strong double top formation. This is not a guarantee that a stock will fall, but is generally taken as a bearish indicator as it suggests trouble with breaking a particular area of resistance.

We’re going to tag the NFLX Weekly $365-345 Puts and have them on watch this midweek.


Bottom Watch Plays

Innovate BioPharmaceuticals, Inc. INNT
gapped down hard, and continued to fall even harder yesterday. It may need more than a single session for reversal and rebound, but we’ll definitely want to have it on our radars while it searches out a bottom because the snap-back could be significant.

Just last month, as you can see, the stock made an incredible run from less than $10, to nearly $30/share, so the volatility is definitely there.

SSLJ.com Ltd. SSLJ is the other bottom-play candidate we’ve ID’ed this morning. It too is currently displaying a chart that is pretty self-explanatory. A recent massive gap-down has lead to a bottoming out, while the stock set new lows yesterday before closing slightly higher. Combine that with an RSI that is indicating a stock which is  about as oversold as it gets, and we’re interested in tracking this one for a potential bottom bounce as well.


Blue Horseshoe Stocks: SPY, CHFS & More

SPDR S&P 500 ETF (SPY)

We want to start things off today by looking to take advantage of the big rebound in the markets yesterday. When we want to play the markets as a whole, we generally look to the SPY options chain, and that’s what we’re going to do today as well.

We are seeing a significant gap up this morning, and are going to be looking for a classic dip-and-rip scenario due to profit taking. Our targets are going to be the SPY Weekly $264-266 Calls provided that support can hold above this morning’s premarket low of 263.56 on any pullbacks in order to remain interested.



CHF Solutions Inc. CHFS

We also want to highlight CHFS this morning as a possible bottom play. The stock is gapping up in the premarket past its 50DMA, and there is a massive gap on the chart to the upside from just under $5 to just under $8.

We’re going to put CHFS, which prior to today had already been approaching heavily oversold territory, on watch over the next few sessions for the possibility of a more sustained rebound.


Cronos Group, Inc. CRON

We’re getting a strong bottom bouncer signal from CRON as well this morning, and we wanted to highlight this chart also.

CRON is currently exhibiting most of the things we look for in a bottom play, and we’re excited to see where it could go in the near term, as it looks like there could be some serious upside here.


Extended Watchlist:
FNSR, INNT, SPOT, TOPS, FNJN, GMS, NETI, AYTU