AutoDesk Inc. ADSK
With things looking choppy for the markets this morning, we are going to turn to a bearish idea for ADSK despite the company’s beat on Q2 earnings yesterday after market hours. The stock began to crumble under the weight of ADSK’s weak Q3 guidance. The poor outlook given, combined with the flow of market tides, could be just the thing for bearish options contracts, namely the ADSK Weekly $135-132 Puts.
There are those of the belief that ADSK stock was already valued too high leading into yesterday’s report, which is why we feel confident choosing to go short at the present time.
TIF Weekly $82-79 Puts
The Buckle, Inc. BKE – Update
We would also like to update readers on another recent idea we floated. On Friday morning, we selected the BKE 09/20 $17.50-20 Calls for a longer-term options idea, and already it has borne fruit just a few sessions later.
The $17.50 Calls have run from a low of .95 and reached 2.31, marking a gain of 143% Meanwhile the $20’s have soared by an even higher margin, trading in a range from .20 up to .72, which works out to a 260% run.
LCI, VTGN, OBLN, TGE, NAKD, USLV, WTER, COTY,
Spectrum Global Solutions, Inc. SGSI – Update
In our initial report on SGSI, one of the things we commented on liking most about SGSI is the rapidity with which the company has been pulling down new clients and growing its business in 2018. This morning, we’re going to start things off by relaying a new PR to that effect on to our readers.
(GLOBE NEWSWIRE) — Spectrum Global Solutions, Inc. (OTC:SGSI) (the “Company”), a single-source provider of end-to-end next-generation wireless and wireline network services and staffing solutions to the service provider (carrier) and corporate enterprise markets, today announces that it has received over $500,000 in new contract awards to support carrier network upgrades across the United States. (>>View Full PR)
Did you miss our special report on SGSI last Monday? Check it out now at the following link:
>>View SGSI Report<<
Fresh Options Ideas:
Those readers who are familiar with our mode of operation know that a good post-earnings options play is something we’re always on the lookout for, and we’ve got a couple of those for you this morning. It has been a crowded 24-hours of earnings releases and the two that are sticking out to us this morning are Dick’s Sporting Goods (Bull) and Tiffany’s (Bear).
We’ll submit a set of ideas for each of these chains to track into the end of the week:
Dick’s Sporting Goods, Inc. DKS Weekly $36-38 Calls
Tiffany & Co. TIF Weekly $95-92 Puts
ASX, NSPR, MARA, ACAD, HEAR, IPCI, SLS
Canopy Growth Corp. CGC
It’s been just under two weeks since we alerted readers that we were interested in the CGC 09/21 $30-40 Calls. This was as a direct result of beverage behemoth Constellation Brands’ (STZ) adding a multi-billion dollar block to its stake in CGC.
CGC shares themselves have risen 66% over the same period, from a low of 29.05 to yesterday’s new high of 48.19.
What this continued bullish surge has done for our options ideas has been nothing short of eye-popping. The update ranges and total possible gains so far are as follows:
$30 Calls – Range: 1.76-18.20 – Max Gain: 934%
$35 Calls – Range: .56-13.90 – Max Gain: 2382%
$40 Calls – Range: .16-8.75 – Max Gain: 5369%
The $40’s especially have obliterated our wildest expectations. A paltry $16 investment on a single $40 Call contract at the lows, would have been been worth roughly $859 at the highs!
As you can very plainly see, options are where the biggest potential profits lie, so we will of course be offering up a couple of fresh ideas this morning.
Both TIF and DSW are coming off of good receptions in the wake of their quarterly earnings reports today. We’ll take that into account and keep the following plays on watch:
Tiffany & Co. TIF Weekly $136-140 Calls
DSW, Inc. DSW 09/21 $30-35 Calls
RGSE, EGLT, MARA, CDXS, ECR, STAF, NEPT, CHFS