Snap, Inc. SNAP – Options Update
We correctly called the bounce on SNAP in our premarket report on Friday and signaled a couple of contracts for observation, the SNAP 6/16 $18 & 19 Calls.
After those made intraday moves of 69% and 93% respectively to close out the week, we rehashed them in yesterday’s report along with mentioning that rolling up to the $20-level was something to consider, given the activity we were observing.
Not only did the $18′s and $19′s extend their gains, but the $20′s got in on the fun as well:
06/16 $18 Calls – Intraday Range: 2.00-3.10 (+55%) – 2-Day Swing: 163%
06/16 $19 Calls – Intraday Range: 1.38-2.34 (+70%) – 2-Day Swing: 212%
06/16 $20 Calls - Intraday Range: .85-1.65 – Max Gain: 94%
With SNAP gapping up in the premarket once again, we expect to see these ranges extended even further today. Cheers to anyone who grabbed a piece of the action!
Weibo Corp. WB – Fresh Idea
To try to continue along with our options success, we’re looking at the Chinese social media network Weibo and its earnings beat this morning.
The stock has already been breaking out and it appears as if today’s earnings figures could propel it to even more gains over the short term, so we’re going to be looking at the WB Weekly $67.50-70 Calls.
Lithium Exploration Group, Inc. LEXG
It was only yesterday morning in our premarket report that we were encouraging our readers to get involved with our daily in-session trader’s chatroom*. Sure enough, more proof of why we periodically remind our subscribers of these daily Skype chats came to us in the form of LEXG.
As you can see from the screen snap below, it was just after 10am when we alerted our members to movement in the stock, and it subsequently ran from .0009 to .002, which represents an intraday rip of 122%
We always find winners to put here in our premarket reports, but to catch even more opportunities on the fly as they come up after the open, our trader’s chats are the way to go.
*Do you subscribe to our mailing list? If so, you’re eligible to participate and/or observe our daily trader’s chats via Skype. Simply send a contact request to username ‘stocksumo’ and we’ll take care of the rest.
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