Conatus Pharmaceuticals, Inc. CNAT
CNAT is a stock that we first discovered as an FDA play back in early December, when one of the company’s treatments had been granted orphan drug status. At the time, the stock was trading at less than $5 a share, and by January, we saw a huge run that took it over $14.
It brought a few other swings in the following months, but had fallen to the back burner for quite some time as it consolidated. Yesterday it set off our alarms once again, springing back to life and running hard on heavy volume, so once again CNAT has our full attention.
After reaching as high as 9.90 during yesterday’s session, we’ll be on the lookout for possible dip-and-rip opportunities. We’d like to see support hold in the 8-8.50 range moving forward and if it can do that, chances to score quick strike gains on the bounce could be present.
Petroleo Brasiliero S.A. (Petrobras) PBR – Options
The PBR options chain has been a veritable cash cow for us this year as many of you already know, and we’ll continue to talk about it for as long as it continues to work in our favor. Yesterday was no letdown, as
All of the Call contracts that we’ve been monitoring ($14-15 Weekly Calls and the 07/19 $15 Calls) have been rocking, providing us with several shots at alarmingly high returns.
If PBR breaks over this morning’s pre-market high of 15.90, we may look to roll our strike price up to $16 (Possibly the 07/03 $16’s which closed @ .36 yesterday) and with how far the latest trend has taken us, we wouldn’t be too surprised to see that happen.
Extra Options Idea: Molson Coors Brewing Co. TAP
The TAP October $75 Calls showed an abnormal amount of trading activity yesterday, causing us to raise an eyebrow. Just for good measure, we’re going to throw those contracts up on our radar and monitor the situation.
Extended Watchlist:
KNDI, GERN, ZLCS, REPH, IDN, SNSS, SIGM, ARNA