Tag: SALM

Friday’s Rippers, 3 New Ideas

Fantastic Friday Finish:

Things really could not have gone much better for us on Friday to close out the short trading week. We had highlighted potential options plays in three chains and got awfully good results from each of the posted ideas in our premarket report for the day. Our 2024 calendar year has been exceptional thus far, with very nearly everything we touch turning to potential gold.

The ideas that we had hashed out for Friday’s session were the SPY 01/19 $478-480 Calls, the TRV Weekly $200-210 Calls, and the SLB Weekly $48-49 Calls, and here were the intraday upswings each of those contract sets recorded on the day:

SPY 01/19 $478-480 Calls
$478: .63-4.71 (+648%)
$479: .33-3.78 (+1045%)
$480: .15-2.83 (+1787%)
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TRV Weekly $200-210 Calls
$200: 6.96-11.80 (+69%)
$210: .05-1.90 (+3700%)
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SLB Weekly $48-49 Calls
$48: 1.13-2.43 (+115%)
$48.50: .76-1.81 (+138%)
$97: .46-1.36 (+195%)
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We also have an update for the longer-term SAVE Calls that we initially highlighted as a possible recovery play in our report this past Wednesday morning. Essentially the stock performed exactly as we said we believed it would, coming down a little lower before bouncing back, and giving us the kind of gains we were looking for. We might have expected it to take slightly longer than it did, but our vision came to fruition by the end of what was a really great short trading week.

SAVE 02/16 $5.00-7.50 Calls
$5.00: .68-2.60 (+282%)
$7.50: .25-1.46 (+484%)

Fresh Options Ideas: 

Without any interesting earnings reporters dropping figures this morning, we’re just going to go with a potential play on the SPY, and then we’ve identified a couple of longer-term potential plays to keep an eye on in the days and weeks ahead.

SPY 01/22 $482-483 Calls*
PBF 02/16 $43-44 Calls
NNI 02/16 $85-90 Calls

Extended Watchlist:
ILUS, HLLK, TONR, SALM, PHUN, LYT, LIFW, RVSN, CHRS, SGMT, OCTO, TALO

Bottom-Watch Signal & More

The Cato Corp. CATO

With the coronavirus pandemic still raging, we’ve been forced to move away from our traditional technical-based trading methods and become more opportunistic. In the case of CATO, however, we have an interesting opportunity with the stock being pressed down to its lowest prices in over a decade, just yesterday.

We are always looking for stocks that are searching out new lows, and will observe carefully in the days and weeks ahead as CATO establishes its own bottom. The company announced at the beginning of last month that would reopen most of its stores.

ABM Industries Inc. ABM 

In yesterday’s premarket report, we signaled a pair of contract sets to put on watch in the ABM chain, and we did see some solid movement in those on the day. They were the ABM Weekly $30 & 35 Calls and both made notable increases, with an especially impressive performance coming from the $35’s.

ABM Weekly $30-35 Calls
$30: 5.00-8.60 (+72%)
$35: 1.11-4.00 (+260%)
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Fresh Ideas:
JBL Weekly $33.50-34.50 Calls*
KMX Weekly $98.50-100 Calls* 

*Please do not attempt to trade weekly options on a Friday unless you are an advanced level trader with access to disposable funds.

Extended Watchlist:
NGCG, MRGE, DECN, VYST, UONE, UONEK, SALM, NTN