Blue Horseshoe Stocks: Options Trio

Fresh Options Ideas

We have a trio of fresh options ideas for today’s report- a couple of earnings plays, and a Form-4 alert. 

Ulta Beauty, Inc. ULTA – We saw a Form-4 pop up on ULTA last week, as the stock was beginning to find its way up off a bottom. There is an absolutely massive topside gap on the chart, so we’re looking at this as a longer-term idea.

We’re set to track the ULTA 11/01 $260-265 Calls over the next few weeks, which would play very well if the stock can even begin to fill that gap.
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McCormick & Co. Inc. MKC - First up for our pair of earnings plays, we’ve got MKC, which posted a Q3 profit beat as well as heightened guidance. We’re going to tag the MKC Weekly $155-160 Calls for observation this morning.
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Stitch Fix, Inc. SFIX 
 - Lastly, we’ve got SFIX earns coming up in the post-market this afternoon, and the stock is at a really good spot on the chart. We’re going to radar the SFIX Weekly $19.50-20 Calls.


IMPORTANT REMINDER!

We will be initiating coverage on a brand new high-potential nanotech play tomorrow morning!

Stay glued to those inboxes or visit BlueHorseshoeStocks.com shortly after 9AM tomorrow morning for our Special Report!


Extended Watchlist:
CLSI, ADT, SOL, CFMS, ADXS, IOVA, CVEO

Blue Horseshoe Stocks: Weekly Wrap-Up

Pharma Options Recap

We cast a wide net yesterday with a trio of options ideas in the pharma space related to the reversal of the Trump administration’s position on drug rebate policy. The sector was bustling with activity in the premarket, and two out of our three ideas bore fruit.

Here were the total possible gains available to daytraders for the session:

Cigna Corp. CI $167.50-175 Calls 

$167.50 Calls – Range: 10.04-17.00 – Max Gain: 52%
$170 Calls – Range: 10.02-14.30 – Max Gain: 58%
$175 Calls – Range: 1.10-1.80 – Max Gain: 64%
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United Health Corp. UNH $250-255 Calls 

$250 Calls – Range: 2.48-11.09 – Max Gain: 52%
$252.50 Calls – Range: 2.50-8.70 – Max Gain: 58%
$255 Calls – Range: .99-6.20 – Max Gain: 70%

In addition to these plays, we’ll continue to keep an eye on the CVS Health Corp. CVS Weekly $57-58.50 Calls  through the end of the day.
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Fresh Idea:
SPDR S&P500 (ETF) SPY $299-300 Calls


Taronis Technologies, Inc. TRNX

On Monday morning, we highlighted TRNX as a prime bottom-bounce candidate, and we’d like to wrap up the week by going over the solid swings which we subsequently observed in the stock.

On Monday itself, our choice in timing on calling this play was affirmed as we saw a solid 52% run from  .25-.38. This was followed by a pullback to a low of .1832 the following day, and over the course of the rest of the week, TRNX has stair-stepped its way back up to .34, which represents an additional 86% swing.


Extended Watchlist:
MLNT, CLVS, NVCN, APLS, SFIX, ADXS, INFY, OBLN

Blue Horseshoe Stocks: Wrapping Up Big Week for Options

Options Review

We included a pair of options ideas in yesterday’s premarket report, and scored multi-bag hits on both accounts.

We were banking on a third straight bullish day for the markets with our SPY idea, and betting that the huge premarket gap-up on SFIX was unsustainable. In both cases we were correct, and it provided us with the following opportunities:

SPDR S&P500 ETF (SPY) Weekly $283-284 Calls
$283 Calls – Range:
.98-2.81  – Max Gain: 187%
$284 Calls – Range: .57-2.00 – Max Gain: 251%

Today we will be looking to roll up our strike price on the SPY and tracking the SPY Weekly $285-286 Calls*.

Stitch Fix, Inc. SFIX Weekly $31-30 Puts
$30 Puts – Range: 1.40-3.22 – Max Gain: 130%

*Never trade weekly options on Friday, unless you are an advanced level trader with access to disposable funds!


At Home Group, Inc. HOME

HOME just missed on earnings and received an analyst downgrade, but on the hunch that the resultant gap-down was based on overreaction, we’re going to radar a set of contracts in the HOME chain to monitor in the event of a rebound. There is an enormous gap now sitting on the chart just waiting to be filled. We’ll have plenty of time to see that happen with the HOME 09/20 $8-10 Calls.


Extended Watchlist:
AMPG, FTD, SNY, RWLK, LJPC, HAIR

Blue Horseshoe Stocks: New Options Plays & More

Turtle Beach Corp. HEAR

This morning to kick things off, we are going to take a look at HEAR, which has gained a bit of momentum over the past couple of sessions after bouncing off a bottom earlier this week. ‘

Technically speaking, the chart has everything we typically look for- a bullish cross of the MACD recently came to pass and we are now seeing clear upward divergence there, and the RSI just cracked the 50-line, indicating that it too is going bullish.

Couple those factors with the convincing surge off of the stock recent relative lows, and we are set up for a possible continuation of momentum, for which we want to be ready with an options idea. We’ll be tracking the HEAR Weekly 10/18 $12.50-15 Calls.

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More Options Ideas

SPDR S&P500 ETF (SPY) Weekly $283-284 Calls
Stitch Fix, Inc. SFIX Weekly $31-30 Puts


Galectin Therapeutics, Inc. GALT – Form-4 Alert

We also want to make mention of GALT, which has been trading sideways near its 6-month lows recently. During this period, we’ve noticed a nearly $20M buy from a GALT insider at these lows.

When this happens we usually like to place a stock on bottom-bounce watch, as it generally tends to suggest that the company director has reason to believe that the stock has reached as low as it’s going to go for the time being.


Extended Watchlist:
AMPG, BOX, TWI, CIEN, ONVO, HIIQ, PBYI, WMGR

Blue Horseshoe Stocks: NTNX Options & More

Nutanix, Inc. NTNX – Fresh Options Idea

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.


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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.

MOMO Weekly $34.50-36 Calls
SFIX Weekly $33-35 Calls


Extended Watchlist:
DCAR. NKTR, TXMD, CRBP, BLIN, TROV