We’re kicking off the trading month of September this morning with a recap oi the recent performance of a stock that we tagged for observation a couple of weeks back.
We included mention of CGIX in our morning report on November 15th as the stock was searching out a bottom. It established a low of 2.00 just a couple sessions after that, and hasn’t looked back since. In a series of huge days over the past week, CGIX has rocketed to a new high of 9.50. That worked out to an upswing of 375% in a matter of less than two weeks! Cheers to anyone who caught a ride on this shooting star!
Amazon Inc. AMZN – Fresh Options Idea
With Black Friday and Cyber Monday on track to record all time highs in online sales, we’re looking to some possible quick-strike options ideas in the AMZN chain, despite the fact that we typically stay away from the stock due to it’s incredibly high PPS.
What we’re going to do is radar some weekly calls to track over the next few sessions. We’ll follow the activity in the AMZN Weekly $1822.50-1827.50 Calls.
eBay Inc. EBAY 01/10 $36.50-37.50 Calls
Morgan Stanley had a solid beat on profits yesterday in its premarket Q3 earnings report, which led us to signal interest for the MS Weekly $43.50 & $44 Calls in our report.
It turned out to be an excellent set of ideas, which each contract making a hundred percent move or better. With the market on the rebound, it was like taking candy from a baby, and we may see more similar activity if we get another strong session as a whole.
The 43.50 Calls ran from a low of 1.32 and reached 2.65 for an intraday gain of 101% while the range on the $44’s was .85-2.20, going down as a single session move of 159%
Fresh Options Ideas
SPDR S&P 500 ETF (SPY) – Should the markets be in for another day of recovery after last week’s backslide, we’re going to also be interested in tracking the activity of the SPY Weekly $279-280.50 Calls.
Netflix, Inc. NFLX – We’ll also take advantage of the market resurgence with an idea pertaining to the NFLX chain. We’ll have our eyes on the NFLX Weekly $377.50-385 Calls as well.
Moody’s Co. MCO – Lastly, we like the technical setup of the Moody’s chart, along with its volatility. It may produce some good chances in the MCO 11/16 $170-180 Calls, so we’re going to throw those on our track list as well.
We included a trio of options ideas in yesterday morning’s premarket report, and with the type of consistent success we have had in the options trading area recently, it should come as no surprise to any of our readers that we scored the hat track.
We’re in the thick of Q2 earnings season, with big name companies reporting left and right. We will continue to milk this cow for as long as possible. Take a look at the single-session gains that were available in yesterday’s watchlist, and read on to get some fresh ideas to close out the week.
As it happened, the stock wasn’t done impressing us yet. HEAR made an excellent run on Friday from a daily low of 10.60 to its new high of 18.62. That’s an intraday move of 76%, and an enormous 575% increase over our observed low from last month.
Symantec, Inc. SYMC
We are always on the lookout for potential bottom plays, and Symantec is going to go on our watchlist as such a candidate as we kick off a new trading week.
A sweeping round of analyst downgrades from Piper Jaffray and others, effected a massive selloff in SYMC, and we’re already seeing a start to a rebound this morning with the stock gapping up roughly 5% in the premarket.
We’re going to keep an eye on SYMC Weekly $19.50-21.50 Calls as well, in the event that the stock continues to rebound.
To start things off this week we want to look back to Friday’s report wherein we suggested that $131 and $132 Weekly Calls would be in play for possible daytrading opportunities, and our assertion was spot-on.The trading range on the $131 Calls was from .63-1.98, which was an overall spike of 214%, while the $132’s jumped from .14 to 1.00; a total increase of 614%
Those ranges, while extremely impressive, only reflect a fraction of the total possible gains for folks with daytrading ability. As you can see on the following chart snapshots of Friday’s intraday activity, these AAPL Calls were both what we commonly refer to as a “Flipper’s Dream”. Not one, but three big swings could have provided major ammunition for top-shelf profits.
Medican Enterprises, Inc. MDCN
MDCN is a marijuana-related stock that we’ve tracked in the past that has cropped up with a noteworthy PR this morning that we think our readers ought to check out.
Additionally, following a huge a huge run in late March, the stock has been under serious consolidation so it also qualifies as a potential bottom play as well. This will definitely be one to keep on our radars this week.