Snap, Inc. SNAP – Options Recap
We called for a course-correct on SNAP in our premarket report on Friday after the stock had taken a post-earnings pounding the previous day. Our hunch was spot-on, as SNAP came roaring back to fill a portion of the gap that its beat-down had created, and regardless of which contracts had been chosen, there were sizable gains there for the taking..
We were looking at the SNAP Weekly $18 Calls for potential daytrades, as well as the SNAP 6/16 $18 & 19 Calls for a longer-term idea.
The Weekly $18′s ran from .25-1.38 for a 452% rip. The 6/16 $18′s made a 69% move from 1.18-2.00, while the 06/16 $19 Calls traded from .75-1.45; a 93% pop. We’ll continue to monitor those June 16th calls, and take rolling up to the $20-level into consideration as the stock is once again up in the premarket.
We also added AZN $32-33.50 Weekly Calls as an extra idea on Friday morning and two out of the four contracts in that range provided traders with solid chances for multi-bag gains as well. The movement came in the $33 Calls which ran 112% from .40-.85, and the $33.50′s, which saw a 450% surge from .10-.55.
Sangamo Therapeutics, Inc. SGMO
We had initially tagged SGMO for observation in Thursday morning’s extended watchlist, and the stock finished out the week in strong fashion, recording higher highs and higher lows each day.
On the whole, we’ve thus far seen SGMO trade up from Thursday’s low of 6.05 to a high of 8.5385 on Friday. That works out to a two-day swing of 41%, which is actually quite impressive for a stock in the $6-8 range. We’ll continue to track SGMO in the event that the trend spills over into this week.
BravaTek Solutions, Inc. BVTK
BVTK is a top-notch super sub-penny runner that came out of our daily trader’s chatroom* a month ago and went from .0002-.0041 in a two-day span.
Following that epic run there were a few profitable dip-and-rip opportunities, and Friday we noticed the stock making another solid 100% intraday day run on increasing volume. We want to keep this one on watch this week for a possible continuation of momentum!
*Do you subscribe to our mailing list? If so, you’re eligible to participate and/or observe our daily trader’s chats via Skype. Simply send a contact request to username ‘stocksumo’ and we’ll take care of the rest.
OME, WLB, XTNT, CYRM, IDXG, SORL,