We’ve been firing on all cylinders with regard to our short term options ideas recently. Yesterday we offered up some ideas for AAPL and BIIB and in both cases, multi-bag intraday returns were attainable no matter which set of contracts were chosen from our target ranges.
Apple, Inc. AAPL
We went bearish on AAPL for a number of reasons, chief among them being a disappointing earnings release, and negative statements by CEO Tim Cook. We were looking for activity in the range of the AAPL Weekly $97-95.50 Puts provided the stock continued to backslide, and were duly rewarded for the idea.
$97 Puts – Trading Range: 1.58-3.72 – Max Gain: 135%
$96.50 Puts – Trading Range: 1.27-3.27 – Max Gain: 157%
$96 Puts – Trading Range: 1.05-2.85 – Max Gain: 171%
$95.50 Puts – Trading Range: .83-2.45 – Max Gain: 195%
$95 Puts – Trading Range: .65-2.10 – Max Gain: 223%
Biogen, Inc. BIIB
On the other side of the fence, BIIB was gapping up hard in the premarket and we liked the chances of seeing some more upside. We highlighted BIIB Weekly $267.50 through $280 Calls and it worked out in spades.
$267.50 Calls – Trading Range: 6.30-17.50 – Max Gain: 178%
$270 Calls – Trading Range: 4.70-15.30 – Max Gain: 226%
$272.50 Calls – Trading Range: 3.45-12.30 – Max Gain: 257%
$275 Calls – Trading Range: 2.45-10.50 – Max Gain: 329%
$277.50 Calls – Trading Range: 1.74-8.45 – Max Gain: 386%
$280 Calls – Trading Range: .99-7.00 – Max Gain: 607%
Under Armour, Inc. UA – We’ll go ahead and signal some new options ideas this morning as the opportunity has presented itself in the form of an impressive Under Armour earnings beat. Wildly exceeded expectations are fueling a premarket gap-up, and we’re going to be taking a look at UA Weekly $75-79.50 Calls provided UA holds that $75-mark on any early dips.
Facebook, Inc. FB - FB is also cruising in early trading today on the strength of a well-received earnings release of its own. We’re going to respond by tagging FB Weekly $105-110 Calls for observation as we head into week’s end.
*Pertaining to both of the preceding ideas, remember to always consider the inherent elevating risk associated with trading weekly options contracts as the end of the week approaches!
NESC, NUOT, RCAP, GNBT, CDII