Options Review:
As usual, we’re going to make our first order of business this morning, the highlighting of our options plays from Friday and what was performing. Three out of the five sets of ideas we formulated in Friday morning’s premarket report recorded notable intraday gains for us.
Those winning targets were the DOCU Weekly $190-175 Puts, the SMAR Weekly $65-70 Calls, and the MRVL Weekly $79-85 Calls. and while the gains weren’t earth-shattering, there were certainly plenty of strong intraday profit chances which could have been seized upon, to the tune of the following moves:
DOCU Weekly $190-175 Puts
$190: 35.01-58.12 (+66%)
$185: 29.82-53.30 (+79%)
$180: 24.24-42.00 (+73%)
$175: 20.04-42.97 (+114%)
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SMAR Weekly $65-70 Calls
$65: 4.60-7.24 (+57%)
$70: 3.04-4.00 (+32%)
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MRVL Weekly $79-85 Calls
$79: 6.53-9.00 (+38%)
$80: 5.06-8.60 (+70%)
$85: 1.53-4.50 (+194%)
Fresh Options Ideas:
The premarket earnings calendar is rather light this morning, but we did hash out some ideas with two out of the three reporters, as well as target some daily SPY Calls, as the markets appear to be gearing up to pare losses from Friday’s down session.
SAIC Weekly $85-90 Calls
DLHC Weekly $12.50 Calls
SPY 12/06 $453-454 Calls*
*Trading options contracts on their day of expiration carries higher risk, and should only be attempted by experienced traders
Extended Watchlist:
IGEN, TGHI, UAMM, AAPT, CGAC, MSNVF, LICH, TTCM