If you’ve been following our reports for awhile now, at this point you’ve realized that we provide really great short-term options trading ideas on a regular basis, and this week was certainly no exception.
Out of four separate fresh trading ideas we formulated in yesterday’s report, all four proved to be big winners, with the help of another solid day of bullish activity for the markets as a whole.
Here’s what we were tracking, and the total possible gains that traders could have netted as a result:
SPY Weekly $290-292 Calls $290 Calls – Range: 1.85-3.50 – Max Gain: 89% $290.50 Calls – Range: 1.60-3.00 – Max Gain: 88% $291 Calls – Range:1.25-2.60 – Max Gain: 108% $291.50 Calls – Range: .98-2.15 – Max Gain: 119% $292 Calls – Range: .78-1.78 – Max Gain: 128%
BURL Weekly $187.50-192.50 Calls
$187.50 Calls – Range: 10.22-17.80 – Max Gain: 74% $190 Calls – Range: 8.02-15.90 – Max Gain: 98% $192.50 Calls – Range: 6.00-13.40 – Max Gain: 123% _____
DG Weekly $150-152.50 Calls
$150 Calls – Range: .90-7.10 – Max Gain: 689% $152.50 Calls – Range: .54-4.98 – Max Gain: 822%
NTNX Weekly $23-24 Calls
$23 Calls – Range: 1.20-2.92 – Max Gain: 143% $23.50 Calls – Range: 1.25-2.52 – Max Gain: 102% $24 Calls – Range: .70-2.06 – Max Gain: 194%
MORE FRESH IDEAS:
BIG 09/20 $25-27.50 Calls
ULTA Weekly $265-260 Puts
Fang Holdings Ltd. SFUN
We also want to throw in a quick highlight of SFUN, which we caught off of the earnings calendar this morning, in a pretty solid bottom-bounce setup. The stock’s coming off of annual lows registered earlier this month, and showing good momentum.
The earnings report was a mixed bag, with perhaps a main highlight being a 290% in revenue from the company’s lead generation services. We are mostly interested in tracking SFUN from a technical standpoint. The upside potential is certainly there.
Thanks to a solid day for the markets yesterday, the successful options idea we dropped for the SPY on Monday morning turned in yet another huge day of potential profits. We had signaled the SPY Weekly $287-288.50 Calls as our first idea of the week, and it has been one of the best ones of the year in terms of percentage gains, already having produced intraweek ranges of up to 4000%
Each of the four contract sets in our highlighted range produced further multi-bag intraday rips of the following magnitude yesterday:
$287 Calls – Range: .43-2.04 – Max Gain: 374% $287.50 Calls – Range: .32-1.58 – Max Gain: 316% $288 Calls – Range: .20-1.46 – Max Gain: 630% $288.50 Calls – Range: .16-1.01 – Max Gain: 531%
We will also be watching the SPY Weekly $290-292 Calls in the event that the current momentum of the markets carries through to the end of the week.
We began highlighting NTNX just a week ago in our report from the morning of March 12th. On that day the stock saw a low of 35.20, as we signaled the NTNX 05/19 $40-42.50 Calls for longer-term observation.
We wanted to provide an update on both the stock and our options targets this morning, as NTNX has produced a very solid and steady uptrend since the morning of our initial alert. Yesterday, NTNX ran to a new high of 42.21. That marked a 1-week increase of 20% and it allowed for some nice moves in our highlighted contracts.
The $40 Calls have thus far traded in a range from 1.96 to 4.20 for a gain of 114% while the $42.50′s ran from 1.21-2.85, an increase of 136% NTNX is only halfway to filling the topside gap on itas chart, and there’s plenty of time remaining until expiration. We’ll be interested to see if the stock can pile on even more gains.
Fresh Options Ideas:
Conagra Brands, Inc. CAG 04/18 $24-26 Calls
Williams Sonoma, Inc. WSM 04/18 $57.50-60 Calls
Darden Restaurants,Inc DRI 04/18 $115 Calls
We are going to close out this trading week, which not-atypically presented us with stock and options plays that went for multibag gains, by formulating another group of options ideas. ULTA reported earnings yesterday post-market, we’ve been tracking NTNX for several sessions, and we’re looking at the SPY as the market is gapping up this morning.
ULTA Weekly $320-327.50 Calls*
NTNX Weekly $37.50-39 Calls*
SPY Weekly $280.50-281.50 Calls*
*As always when we signal weekly options on a Friday we must insist that you NOT attempt any of these trades unless you are an advanced level trader with access to disposable funds! It is an extreme high risk/high reward undertaking!
Today is figuring to be options heavy, with a few ideas jumping out to us here in the premarket this morning. NTNX, the first on our list, is currently exhibiting a chart setup that we’re constantly on the lookout for. We’ve got a stock rising up off of recent relative lows, with a massive gap to the upside, and a couple of our favorite buy indicators really standing out.
The RSI is attempting to come off of being egregiously oversold, while the MACD is rapidly converging toward an impending bullish cross. From the current juncture, a more pronounced rebound for NTNX looks imminent. We’re going to go ahead and signal the NTNX 05/19 $40-42.50 Calls to coincide with the present scenario.
More Fresh Ideas:
We also tirelessly look for earnings related options plays, and may have found a couple today, despite the current earnings calendar being a little on the light side.