Blue Horseshoe Stocks: SPY Puts Recap & More

SPDR S&P 500 ETF (SPY) – Review

We went bearish on the SPY yesterday morning, and offered up a set of corresponding ideas in the options chain. We signaled our interest in the SPY 10/08 $288.50-$287.50 Puts which just had the one session before expiration.

It turned out to be a great rapid-strike play for anyone who cared to take advantage. Every single contract in our designated group produced legitimately impressive multi-bag intraday gain opportunities.

$288.50 Puts – Range: .71-2.90 – Max Gain: 308%
$288 Puts – Range: .47-2.50 - Max Gain: 432%
$287.50 Puts – Range: .31-2.00 – Max Gain: 545%


Kala Pharmaceuticals, Inc. KALA

Catching our eye as a potential bottom bounce play this morning is KALA, which is presently exhibiting all of the bottom play indicators we typically look for. The RSI is in indicating that the stock is oversold, but with strength rising, and the MACD is sharply converging toward an impending cross.

Meanwhile the PPS showed its first inclination yesterday of attempting to fill in the topside gap we can also plainly see on the snapshot below. We’re going yto place the stock on watch for a continued rebound, and also tag the KALA 01/18 $10 & 12.50 Calls for observation in the days and weeks ahead.





CorMedix, Inc. CRMD

We placed CRMD on watch beginning on last Monday, October 1st, and subsequent to that report, would observe a low of 1.06 in the stock. Yesterday, CRMD attained a new high of 1.65, marking a notable 56% upswing in just a weeks time.


Extended Watchlist: 
CZNI, AGRX, OGEN, MOSY, HELE, PYX, DGLY

Blue Horseshoe Stocks: TSLA Recap & More

Tesla, Inc. TSLA – Options Idea
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TSLA stock was running hard after KeyBanc analysts predicted a 50% rise in Model 3 deliveries, and we entered the mix yesterday morning with a set of options ideas to take advantage of the situation. We certainly hope that our words didn’t fall upon deaf ears, because of the five contracts in the range we slated for potential quick strike trades, all five produced single-session gains of over 100%

Our designated targets were the TSLA Weekly 337.50-347.50 Calls and we were very impressed with the total potential gains made available by all of those contracts:

$337.50 Calls – Range: 8.00-19.00 – Max Gain: 138%
$340 Calls – Range: 6.76-17.10 – Max Gain: 153%
$342.50 Calls – Range: 5.75-15.16 – Max Gain: 164%
$345 Calls – Range: 4.97-13.50 – Max Gain: 172%
$347.50 Calls – Range: 4.20-11.90 – Max Gain: 183%

From what we’ve seen thus far, we have reason to believe that we may see some further opportunities in these ideas before the week is out, so we’ll allow them to keep their slots on our radar screens for the time being.


H&R Block, Inc. HRB – Fresh Idea

As a fresh options trading idea this morning, we want to bring attention to HRB, which despite turning in a beat on earnings yesterday in the post market, is taking a beating here in early trading.

Combined with the fact that the stock was already looking toppy and about to breach into heavily overbought territory, we’re ready to look at a range of puts, to take advantage of what may be a significant course correction to the low side. We’ll be tracking the HRB Weekly $26-24 Puts.


Extended Watchlist:
VTGN, DARE, SYK, OGEN, ESRX, PVTL, KFY, KOOL

Blue Horseshoe Stocks: TNTR Recap & More

Tintri, Inc. TNTR

Our bottom call of TNTR yesterday morning to kick off the short week could not have been more perfectly timed. For more than two months the stock had been crushed down ever lower, reaching a new 52-week low once again on Friday.

We noted a significant swell in the amount of short interest in the stock, and now it appears as if the squeeze is on- the bottom bounce we said we’d be watching closely for happened right on cue and it was no small move. The stock saw its low at .36 and subsequently ran to .71, marking an intraday rip of 97%

We’re going to want to watch out for a more sustained recovery, and look to TNTR to establish higher lows over the coming sessions.


Dicks Sporting Goods, Inc. DKS

Dicks posted its quarterly report, and took off like a rocket in the premarket today, shooting up over 20% on a hefty earnings neat and raised guidance going forward.

We’re always in the mood to take advantage of a rapid spike in price action and volatility. We like to use options to leverage the activity to our benefit, and in this particular case, we are going to want to cast a wide net and keep a close eye on the DKS Weekly $35-40 Calls.
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Added Idea:
HP, Inc. HPQ Weekly $21-22 Calls


Extended Watchlist:
CODX, CRMD, NAK, CRM, OGEN, TXMD, UPL, BGI