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
We presented some bearish options ideas in our premarket report from yesterday morning and thanks to a midday selloff for the markets as a whole, we were able to observe some very nice intraday gain opportunities.
SPDR S&P500 (ETF) SPY Weekly $309.50-308.50 Puts
$309.50 Puts – Range: .75-1.72 – Max Gain: 129% $309 Puts – Range: .54-1.33– Max Gain: 146% $308.50 Puts – Range: .38-1.21 – Max Gain: 218% ____
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.
We revisited EROS yesterday morning, just under one month following our August 21st report, mentioning its recent run which began from a low of 1.20.
The stock was moving in the premarket in the wake of a news announcement placing the company in partnership with Microsoft. We felt the news had a chance to carry the stock even higher than we had seen it run already, and that’s just what yesterday’s session brought.
EROS ran to a new high of 3.92, which marked an overall increase of 227% over our observed low roughly three weeks ago. The performance was also good enough to land the stock in the #1 slot on the NASDAQ daily top gainers list.
As we near the midway point of this holiday-shortened week, we are going to be taking a look at a fresh earnings related options idea with UnitedHealth.
The company just posted an impressive across-the-board earnings beat, while the chart itself was already in a prime bottom-bounce position. We are going to track the UNH Weekly $232.50-237.50 Calls, which should be in very good shape if events play out as expected.
Fastenal, Inc. FAST
We also signaled the FAST 04/18 $62.50-67.50 Calls, last Thursday following the company’s own earnings beat. The moves we’ve observed since then have been moderate, but still impressive nonetheless.
$62.50 Calls – Range: 5.40-7.10 – Max Gain: 31% $65 Calls – Range: 2.40-4.80 – Max Gain: 100% $67.50 Calls – Range: 1.10-2.43 – Max Gain: 121%