It was a great start to the 2017 trading year yesterday, with multiple movers offering up opportunities for solid single-session gains. In addition to a handful of the stocks we were watching streaking their way upward, our options idea also fared well, with the markets in general kicking off the year on a strong note.
Mountain High Acquisitions Corp. MYHI – First up is MYHI, which exhibited a big breakout from a low of .09 and running as high as .1745. That was good for the largest intraday gain, coming in at 94% and occurring on considerable volume.
We’ll continue to monitor the situation with MYHI, and possibly be on the lookout for a dip-and-rip pattern. Should the stock briefly come down off of these highs, there could be another opportunity to time the subsequent bounce.
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Oceanic Research & Recovery Inc. ORRV – ORRV has continuously pushed the envelope since we first began talking about it a week ago today and yesterday was no exception. We observed yet another big run, with the stock jumping from .0019 to a new high of .0036. That goes down as an intraday pop of 89%, and extends our observed range on this play inside a week by a considerable margin.
As of the .0005 we witnessed last week, yesterday’s top mark represented a total upswing of 620%
*Side Note: Anyone who participates in our daily traders chats could have gotten in even lower the previous day, at .0003, from which point yesterday’s new high marked a move of 1100% *Send a Skype contact request to “stocksumo” to participate in our in-session traders chats!
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Hiru Corp HIRU – Another excellent play was HIRU, which started the day off at a low of .0008 and persisted with a steady climb throughout the session to wind up closing at its high of day, at .0013.
That was a daily increase of 63% and of course, anytime we see a stock end the session at its high, we always want to be on the lookout for continued momentum.
ProShares Short VIX Short-Term Futures SVXY
Suspecting that the bullish premarket sentiment would spill over into yesterday’s trading session, we signaled some options in the SVXY chain, namely the SVXY Weekly $93.50-95.50 Calls.
While we didn’t sweep the range in terms of hefty gains, there was considerable open interest in two sets which allowed for significant profits- the $94 and $95 Calls. The $94’s ran from 2.30-3.64 (+58%), and the $95’s traded up from 1.75 as high as 3.39 (+94%)
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Abercrombie & Fitch Co. ANF – Fresh Options Idea
We want to signal a range of options ideas for ANF, which is just coming off of its annual lows, and showing some signs of a reversal.
We’ll want to be ready to take advantage of a recovery, by using the ANF 02/17 $12-15 Calls, which gives us several weeks for a rebound to materialize. That being said, the gain opportunities could come sooner rather than later, so we want to be mindful of that.
Extended Watchlist:
BTCS, CNXS, OMHE, VHUB, OXIS,
NUGT, JNUG(In-the-Money Weekly Calls)