Blue Horseshoe Stocks: SPY Options & More

SPDR S&P 500 ETF Trust – SPY

We’re projecting a solid day for the markets as a whole to close out the week as positive jobs numbers just hit, and usually in these cases, we like to use the SPY to get in on the action in the short term. We’re going to designate the SPY Weekly $247-248.50 Calls* as our contracts of interest.

Not only did hiring stay strong while jobless claims fell , but non-farm payroll gains exceeded expectations by a considerable margin, foreshadowing strength in US labor. To boot, the June Trade Balance figures came in and roughly $1.3B was shaved off of the expected trade deficit. All in all, these are several contributing factors that could certainly energize today’s session, and produce considerable intraday gain opportunities in our highlighted options.

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GoPro, Inc. GPRO

While we’re thinking of potential quick-strike options plays, we’ve got to take a look at GPRO, which is gapping up in the premarket this morning on the heels of its Q2 earnings beat, and strong outlook. We’ve been familiar with GRPO options in the past, although it has been quite some time.

Prior to these bolstered figures as well as an analyst upgrade from Morgan Stanley this week, GPRO shares had been somewhat stuck in the mud for most of the summer so far. An extended rebound could be in the cards, but for now, we’ll just track today’s activity on the GPRO Weekly $9-10 Calls*.
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*We don’t include mentions of weekly options contracts on a Friday without explicitly warning our readers every single time. Trading weekly options at the end of the week is an exceedingly risky proposition that should never be attempted by beginning or novice traders!


Extended Watchlist:
JSDA, PDLI, HDP, MTZ, SRNE, ARGS

Blue Horseshoe Stocks: BVTK Pops Again & More

Bravatek Solutions, Inc. BVTK

BVTK was among our mentions in Wednesday’s premarket report after it was unearthed in our chatroom* the previous morning before making a 500% move.  Those who missed that run got another chance right away as the stock ran from .0009-.0035 that afternoon, and topped out at .0041 to close out the short week on Friday. That added another two-day swing of 355% to the activity we had observed in BVTK, which was followed by a pullback to .0015.

Once again, to kick off the new trading week yesterday, BVTK began to run, returning to a high of .0034 on the day, representing yet another two-day upswing out of this volatile runner amounting to 127%  The stock ended the session having traded roughly three-and-a-half times its monthly average volume. Things could get very interesting if it can manage to crack resistance at the previous swing high of .0041.

The company filed an 8-K this morning as well , pertaining to an agreement with i3 Integrative Creative Solutions, pursuant to which i3 Integrative will promote and solicit commitments in the United States federal government military and civilian markets regarding the Company’s cybersecurity email software and telecom services. (>>View Filing)

*We encourage all of our readers to join in on our daily in-session live chats. To participate, simply create/sign into your Skype account and send a contact request to ‘stocksumo’.



Bank of America Corp BAC – Options Ideas 

Whenever we spot an opportunity to swoop in post-earnings with some options ideas, we jump on it right away, and that’s what we have with BAC this morning.

We haven’t highlighted this stock in quite awhile,but with a very solid beat on earnings and a small gap-up in the premarket, we’re going to want to signal a couple of short term contracts for observation in the BAC Weekly $22.50 and $23 Calls.

In the event that a more sustained rebound is in the cards, considering the fact that BAC was already coming off of a relative bottom just yesterday, we’ll have the BAC 05/12 $23.50 & $24 Calls on watch as well.



Bottom-Watchlist

We want to put an observational tag on both Sorrento Therapeutics, Inc. SRNE and OncoMed Pharmaceuticals, Inc. OMED.  Both of these stocks have taken serious beatings of late, and consequently, are in extreme oversold territory. Chances for recovery plays here seem quite high, so we’re going to watch for these to establish higher lows in sessions ahead.


Extended Watchlist:
JAMN, MYDX, CAB, SSYS, BIOC, NFLX

Blue Horseshoe Stocks: Pharma Watchlist & More

Actinium Pharmaceuticals, Inc. ATNM

We want to start things off this morning by taking a look at ATNM, for a couple of reasons. First, from a technical standpoint, the chart appears to be coming off of a relative bottom, and a number of indicators suggest that a sizable upswing could occur in coming sessions.

Those include a MACD and Histogram that look to be gearing up for a possible cross into bullish territory. Each of the past two times that occurred, the stock saw an appreciable move to the upside. The RSI also looks to be coming off of being oversold- we’ll be looking for a break of that 50-line, and the registering of higher lows and higher highs as ATNM attempts to establish a continued trend off of its recent lows.


The other factor that is indirectly drawing us to ATNM is the fact that it operates in the Pharma sector, which is sure to be at the forefront of the news with a couple of huge buyouts. Pfizer has bought Anacor (ANAC) and Luminex bought Nanosphere (NSPH). Whenever we see groundbreaking events happening in biopharma, there tends to be a rise in overall activity for the industry.

That’s why, in addition to ATNM, we’ll be placing the following couple of stocks on watch as we kick off another trading week: Inovio Biomedical, Inc. INO, and Sorrento Therapeutics, Inc. SRNE


3D Systems Corp. DDD

After an impressive run-up on the chart which lasted from January to April, DDD has taken a pretty substantial pounding in the month of May.

The stock came down to bounce off of its 200DMA on Thursday, and recorded higher highs and higher lows on Friday. We’ll look for a continuation of that trend into today, and monitor DDD for a possible recovery. We will need to see the stock hold support at or above the current 200DMA of 11.73 on any pullbacks in order for it to hold our interest. A return to its PPS levels from the end of April from this juncture would produce potential gains of at least 50%


Extended Watchlist:
STVF, ELTP, CSOC, GSAT, BCEI, PTX(Coming Off Bottom)

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