Overstock.com, Inc. OSTK
On Friday, we identified a pair of options targets for OSTK, the 10/04 $15.50 & 16 Calls. Despite falling to the low side toward the end of the day, there were some early opportunities for our designated contracts.
The $15.50 Calls traded up from 1.50-1.90 for a notable 27% intraday move, while the $16 Calls traded in a range from 1.40-1.96 (+40%).
With the late session dip, OSTK fell considerably, but we view this as no less than a buy-in opportunity on these very same contracts. We like the chances of seeing a quick rebound, and the potential for further gains out of these plays over the course of the next trading week or two.
Fresh Options Ideas:
ROKU 11/01 $115-118 Calls
MDR, AVDL, KNDI, OGEN, DRD, NTEC, CANF, PIRS, INPX
Bed Bath & Beyond, Inc. BBBY
The last time we were mentioning Bed Bath & Beyond, was back in January when the stock was trading just below $14. It’s been in a solid uptrend more recently, reaching over 19.50 yesterday. However, we’re getting a bearish feeling from the chart now, especially following the company’s earnings report for the 4th quarter yesterday postmarket.
The company came fairly close to analyst expectations on earnings, yet recorded same-store sales declines for the seventh quarter in a row as e-commerce players like Amazon continue to horn in on brick-and-mortar reliant chains.
We are going to track a bearish options idea into the end of the week for this chain, with the BBBY Weekly $17.50-17 Puts, with the stock already being down a couple of dollars from yesterday’s highs here in the premarket.
FRESH OPTIONS IDEA:
Fastenal, Inc. FAST 04/18 $62.50-67.50 Calls
VKTX, EVH, FRED, KNDI, GLG, TOPS
Centene Corp. CNC
As we were just mentioning yesterday morning, we designated a pair of contracts to watch in the CNC chain toward the end of March, with the CNC 09/20 $50 & $55 Calls.
Since that time the stock has been in a near-continual uptrend, and after yet another bullish session yesterday, we have new highs to report on our ideas. The $50 Calls have now traded in a range from 1.80-9.50, amounting to a total move of 428%. The $55 Calls have been on an insane run, and they have thus far traded up from .31-6.70. That works out to a rise of 2,061% in a span of only nine trading sessions.
BP Prudhoe Bay Royalty Trust BPT
Weve got another options chain that we ‘d like to signal some longer term calls in as well. BPT fell off a cliff yesterday, and while it may have slightly further to fall before reversing, the chart shows a history of rapid recoveries whenever the stock is beaten back as it has been this week.
We’re going to designate the BPT 05/17 $22.50-25 Calls as two contracts of interest and begin to track them over the days and weeks ahead.
WWR, CERN, FTR, SLS, KNDI, AMR, EVOK, CHFS