Tag: SPY

Form-4 Bottom Play & More

SPDR S&P500 (ETF) SPY
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We are still actively tracking the options targets we designated in the SPY chain in Tuesday’s premarket report which were the SPY Weekly $340-341 Calls. We got some pretty nice intraday gain opportunities in the 60-80% range early Tuesday, but the following upswing that we observed in these plays yesterday was far better.

The $340 Calls registered another run from .98-3.28, which marks a 235% move, while the $341’s ran from .75-2.65, for a 253% rip.
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Fresh Options Idea:
DPZ Weekly $427.50-417.50 Puts 

Arcutis Biotherapeutics Inc. ARQT – Form-4 Bottom Bouncer

Following multiple Form-4 submissions to the tune of over $12M each last week, ARQT sold off and began to establish just the type of chart setup we are always on the lookout for. A recently tanked stock with a gap on the chart to the upside, that is establishing a trend off of that bottom.

Combined with the recent insider purchases, and it makes for a stock that we need to have on our watchlist in the weeks, and perhaps even months ahead.

Extended Watchlist:
ALYI, ABMC, AREC, DMDD, NUVI, ZNOG

SUNW News & More

SPDR S&P500 (ETF) SPY – Options Recap
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Yesterday morning. the sole fresh options idea we came up with in our premarket report was pertaining to the SPY. Despite the markets tanking a couple of hours prior to the close as the possibility of further coronavirus stimulus in 2020 grew more remote on comments from the White House, our targets, the SPY Weekly $340-341 Calls fared very well for the first two-thirds of the session.

Here are the total possible gains that were made from the open until about 2PM:

SPY Weekly $340-341 Calls
$340: 2.46-3.97 (+61%)
$341: 1.82-3.34 (+84%)
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Fresh Options Ideas
LEVI 10/16 $16-18 Calls
LW 10/16 $70-75 Calls 

SunWorks, Inc. SUNW

The last time we highlighted SUNW was a couple of weeks back on September 24th as part of a focus we did on solar plays. That day, the stock came right out of the gate with a huge run from 3.30-8.50 (+158%).

After that amazing run, the stock consolidated down to a low of 1.88 and as of premarket trading this morning it has reached 5.19, with a big piece of breaking news this morning that you can find below. We’ll definitely continue to keep our eyes on SUNW, as it exhibits just the type of volatile activity that we’re always after.

ROSEVILLE, Calif., Oct. 07, 2020 (GLOBE NEWSWIRE) — Sunworks, Inc. (NASDAQ: SUNW) (“Sunworks”), a provider of solar power solutions for agriculture, commercial and industrial (“ACI”), public works and residential markets, today announced that the company signed $10 million in new commercial and agriculture projects in the third quarter, marking its strongest quarterly booking activity since the beginning of the COVID-19 pandemic in early 2020. The sales are comprised of 19 existing and new customers and total more than 4.4 MW for installation. (>>View Full PR)

Extended Watchlist:
ABCE, CBBT, ETFM, OPTI, TLSS, DSGT, FPVD,

LTUM Recap & More

Lithium Corp. LTUM – Recap 
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It was just this past Thursday that we mentioned LTUM on our watchlist and we are circling back today to report the solid move it has made since then. We always try to sprinkle in a few OTC plays despite our primary focus generally tending toward options these days. We are right in the middle of an earnings dead-zone, so it was helpful to have a play like LTUM on our radar.

The stock, from its initial low of .165, hit a new high of .33 during yesterday’s session. That represents a double bag increase of 100% in the span of just 3 trading days.

Fresh Options Idea:
SPY Weekly $340-341 Calls 

Extended Watchlist:
AAGC, HNCKF, TLSS, BBXIA, CYDVF, PMPG, MXSG