PLCE Options Recap
On Tuesday, we submitted our interest in PLCE Weekly $70-75 Calls for a quick mid-week strike, and what we got instead was a supremely strong performance that lasted the remainder of the week.
On Wednesday, contracts within our target range yielded gains from 112-315% On Thursday
possible profits were a bit more subdued yet still highly respectable, giving us chances at gains ranging from 30-100% on the day.
On Friday, our idea managed to offer up yet another solid performance. The $70 Calls ran 45% intraday from 3.19-4.64, while the $72.50’s scored a double-bag-plus gain for the third straight day, spiking from .90-2.18, a 142% swing.
Breitburn Energy Partners, Inc. BBEP – Update
In Thursday morning’s premarket report we signaled BBEP as a “Bankrupt Bottom-Bouncer” slating it for observation, and the tag came with excellent timing. Despite a recent Chapter 11 filing looming, we managed to catch it at a bottom and track it over an impressive gain. Observing a low of .055 Thursday, we watched as the stock subsequently ran to a high of .11 Friday for a perfect 100% session-over-session upswing.
BBEP closed at .07, and in order for us to remain interested in the play moving forward, we’re going to need to see it maintain support at or above the channel between .06-.065 on any pullbacks.
MyDx, Inc. MYDX
We’ve taken notice of a stock that is showing a confluence of several attractive features at the moment in MYDX. What we’ve got here is a play that qualifies as a low-float, low volume, bottom-bouncer, and it’s got an interesting back story to boot.
MYDX produced a strong bounce off of its recently-recorded 52-week low (.17 on 05/18-05/19) on Friday, after crumbling for a more than 50% loss since the beginning of last week, when it was trading around .40. We’re going to want to keep an eye peeled for signs of a continued rebound as we kick off this new trading week.
The company’s intriguing product is a chemical purity analysis tool, which you can learn all about at https://www.cdxlife.com
Bottom-Bounce Watchlist: Castle Brands, Inc. ROX and LendingClub Corp. LC
ONCI, NETE, NAVB, MESG