Synergy Pharmaceuticals Inc. SGYP – Bottom Watch
We noticed SGYP start to sell off rapidly last week, after a poor earnings report and the pricing of a public offering on the stock with shares being offered at 2.58. Combined with the start of tax-loss selling season, and SGYP has approached extreme oversold territory.
We’ve now begun to take interest in this as a bottom watch play to monitor for a rebound in coming sessions, and it could ultimately be quite a recovery. We’ve got a stock that was trading for nearly seven dollars a share at the beginning of this year, beaten all the way down to new annual lows. If SGYP were to regain even a portion of the ground it’s lost in recent months, it would be worth our time to track it.
Wal-Mart Stores, inc. WMT – Options Idea
Looking at this morning’s premarket earnings calendar, it was WMT that jumped out at us the most, with a solid beat, and heightened guidance propelling the stock to a moderate gap up at the moment.
We’re going to formulate a quick options idea to try to take advantage of the situation. Walmart has been exceptionally bullish for most of this year, and is currently soaring into blue skies, setting a new annual high with every uptick.
We’re going to put the WMT Weekly $92-96 Calls on watch for the remainder of the week.
SRNE, MD, ADMP, QRHC, CREG, MD, RIOT, AFMD