Blue Horseshoe Stocks: CGC Bull Run Continues

Canopy Growth Corp. CGC

Ever since Constellation Brands’ (STZ) added a multi-billion dollar block to its stake in CGC, the corresponding options idea we put out on Wednesday morning  continues to pile on new highs.

Our designated targets were the CGC 09/21 $30-40 Calls, which as of yesterday morning had already produced chances at gains ranging from 150-350% Those ranges were extended by a wide margin thanks to yesterday’s activities.

$30 Calls – Range: 1.76-7.70 – Max Gain: 338%
$35 Calls – Range: .56-3.90 – Max Gain: 596%
$40 Calls – Range: .16-1.75 – Max Gain: 994%

(Note: The 32.50 and 37.50 calls didn’t trade much volume until yesterday session, where they too produced sizable gains)
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Fresh Ideas:
TJX 09/21 $105 & 110 Calls 

GDX 09/21 $18.50-19.50 Calls


Extended Watchlist:
GALT, AMDA, ATIS, OHGI, JMU, NVDA, NFLX

Blue Horseshoe Stocks: NFLX Bearish & More

Netflix Inc. NFLX – Options Idea

The main thing hitting our scanners this morning is NFLX, following the company’s post-market earnings report yesterday. Usually when we deal with NFLX, we’re talking about ideas for the stock rising, but today, we’re going bearish on NFLX for a couple of reasons.

First, not only did its Q2 revenues fall short of expectations on the street, but the company’s weak subscriber growth numbers are causing worry as well. While this may only be a temporary lapse for NFLX as the company hasn’t made it a habit of misses on consecutive earnings reports in the past, we do want to form a short term bearish idea for the options chain.

Secondly, from a technical standpoint, the NFLX chart is exhibiting a strong double top formation. This is not a guarantee that a stock will fall, but is generally taken as a bearish indicator as it suggests trouble with breaking a particular area of resistance.

We’re going to tag the NFLX Weekly $365-345 Puts and have them on watch this midweek.


Bottom Watch Plays

Innovate BioPharmaceuticals, Inc. INNT
gapped down hard, and continued to fall even harder yesterday. It may need more than a single session for reversal and rebound, but we’ll definitely want to have it on our radars while it searches out a bottom because the snap-back could be significant.

Just last month, as you can see, the stock made an incredible run from less than $10, to nearly $30/share, so the volatility is definitely there.

SSLJ.com Ltd. SSLJ is the other bottom-play candidate we’ve ID’ed this morning. It too is currently displaying a chart that is pretty self-explanatory. A recent massive gap-down has lead to a bottoming out, while the stock set new lows yesterday before closing slightly higher. Combine that with an RSI that is indicating a stock which is  about as oversold as it gets, and we’re interested in tracking this one for a potential bottom bounce as well.


Blue Horseshoe Stocks: CANN Recap & More

General Cannabis Corp. CANN

To kick off this week, we sent out a reminder going over the extensive list of cannabis plays we published on April 4th in anticipation of Friday’s 04/20 Holiday celebrations and connected stock activity.

We expect a rising tide of interest and activity in the cannabis space for the remainder of this week and beyond, during what is one of the busiest times of year for marijuana-related businesses/stocks.

We are already impressed with the move made by CANN since our initial alert and through to this week. On the 4th, following our report, CANN established its base at 2.25 and hasn’t looked back. Yesterday the stock hit 5.75, marking a two week bull run of 156% As we said, we expect to see more moves like this from the myriad cannabis plays we track on a regular basis. (Non-Exhaustive List Here)


vTv Therapeutics, Inc. VTVT

We also want to make note of VTVT this morning after noticing a number of attractive features on the chart. Pre-existing shareholders of VTVT are certainly not happy with the events of the past few months, but as opportunistic short-term traders, it has almost everything we look for a regular basis.

In addition to being monstrously oversold, the stock has seen a rise in average volume over the past week, after a massive gap-down which you can plainly view on the snapshot below. What makes the scenario so interesting, is that the company will need to reattain and hold the 1.00/share or risk involuntary delisting from the NASDAQ. With all these factors playing in, we’ll definitely want to put this one on extended watch in the event it attempts to fill even a portion of that gap.


Extended Watchlist:
NFLX, GS, UNH CNIT, CNET, VHC, RKDA, GWPH, KOOL

Blue Horseshoe Stocks: NFLX Recap & More

Netflix, Inc. NFLX – Options Recap

On Tuesday morning after Netflix came out with its quarterly report and soundly exceeded expectations, we entered an options idea for the NFLX chain into the log in our premarket report.

We followed up with a recap of the gains made possible on Wednesday, which ranged from 65-100% but after a continuation of its bullish trend through yesterday, we observed some excellent new highs.24.50-

So we want to finish off the week by updating the figures on the total possible gains in our highlighted NFLX contracts, from Tuesday’s lows to yesterday’s highs.

$247.50 Calls – Range: 4.87-24.50 – Max Gain: 403%
$250 Calls – Range: 3.66-22.30 – Max Gain: 509%
$252.50 Calls – Range: 2.68-19.80 – Max Gain: 639%
$255 Calls - Range: 1.90-17.30 – Max Gain: 811%

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Fresh Idea:
Intel Corp. INTC Weekly $47.50-48.50*

*Please do not attempt to trade weekly options on a Friday unless you are an expert level trader with disposable funds. It’s one of the riskiest activities out there!



MannKind Corp. MNKD

We’ve been following MNKD for quite a long while, that’s why at the end of last month when we saw the stock fall to its lowest PPS since before the huge run back in the fall, we immediately signaled it as a bottom-watch play.

That was the morning of December 22nd, just prior to the holiday break. The stock saw its low of 2.30 the following session, on December 26th, and has since recovered much of the ground it had lost. Yesterday, possibly as the result of a short squeeze, the stock soared to a high of 4.05. That works out to a respectable 76% upswing in just one month’s time.

It remains to be seen if the stock can retest the impressive highs we saw from it back in October.


Extended Watchlist:
BOLD, ENRJ, HGT, RAS, LMFA, NBEV, MYSZ, GALT,

Blue Horseshoe Stocks: NFLX Options & More

Sorrento Therapeutics, Inc. SRNE

Recently we’ve been delving back into our reports from late 2017, to review the ones that have made notable moves, and next up on the list SRNE.

We last signaled our interest in this as a bottom-watch play back on November 16th, and while it took a couple weeks for it to get out of its sideways-trading funk, the beginning of December brought the start of a fantastic run from an ultimate low of 2.15 that has persisted into the present. Yesterday the stock reached a new annual high of 8.05 (highest PPS since October ’16), marking an increase of 274%

This most recent push in what has definitely been a steady but sharp rise of the past six weeks may have been helped along by Celgene’s (CELG) buyout of Juno Therapeutics (JUNO), which share a market space with SRNE. The company also has some promising treatments in its pipeline.

Volume has recently been ramping up in a big way, too, so we’ll definitely continue to have an eye on this stock’s activity.


Netflix, Inc. NFLX – Options Idea

We’re always looking for a good opportunity to make some quick gains in the wake of a big company’s earnings, and NFLX is one that we’ve had quite a bit of experience with in that arena.

That’s why we’re going to enter an idea into the log this morning in the NFLX Weekly $247.50-255 Calls as the company posted a promising report including the addition of more than eight million new subscribers even despite its recent price increases.

Shares of NFLX broke a double top and are in blue skies, hitting a new all time high, so we’re very interested to track the ideas we’ve identified. They may be able to furnish us with some impressive gains.


Extended Watchlist:
CNET, ROKU, FATE, RMD, FNJN, VYGR