Inspired Entertainment Inc. INSE – Update
Yesterday morning, we placed INSE on recovery watch in the wake of its quarterly reporting. We cited the attractive bottom-bounce that was in effect as the markets had tanked the previous day and INSE managed to buck that trend.
Our instincts about this play turned out to be very good, with the stock piling on yet another very solid trading session. The stock’s low came in right at the opening price of 3.86 and it never looked back. INSE ran up to 5.23, representing a respectable single-session rise of 35%
It also closed just three cents lower than the high of day, setting us up to see if the stock can continue to build upon the momentum it has thus far exhibited.
DSW, Inc. DSW
We’d also like to formulate a fresh options idea for the DSW chain, after noticing an attractive chart setup. The stock has been trading at its lowest PPS since May, which when coupled with solid earnings and guidance in this morning’s quarterly report, could make for just the right conditions to strike on some options trades.
We’re going to signal interest in the DSW 12/21 $22.50 & $25 Calls, and keep those on watch throughout the rest of the week and into the next.
SPY Weekly $266.50-268.50 Calls
CASI, CNAT, HOLX, CDE, TQQQ, TNXP, LCI, AEO(Bottom play)