Going Bearish on Earnings Reporters

Options Review:

We’ve been back on our Midas Touch options trading business over the last several sessions, and yesterday morning was no different. We were just patting ourselves on the back for 100% accuracy on the previous session’s bangers, and we managed to do it again to start this holiday-shortened week.

We signaled ranges on a couple of plays, highlighting the SPY 11/22 $469-470 Calls, as well as going short on the CRNC 12/17 $105-95 Puts. Both turned out to be excellent notions, and the board was fully green for yet another day. The end of this week will be rather subdued, with a day off for Thanksgiving and just a half trading day for Black Friday, so it’s good we’re getting these in now.

Here are the total possible profits that could have been banked off of yesterday’s targets:

SPY 11/22 $469-470 Calls
 1.99-4.50 (+126%)
$470: .62-2.40 (+287%)

CRNC 12/17 $105-95 Puts 
$105: 15.00-22.46 (+50%)
$100: 9.70-18.20 (+88%)
$95: 6.00-13.49 (+125%)

Fresh Options Ideas: 
URBN Weekly $35-33 Puts
DLTR Weekly $132-130 Puts
BBY Weekly $122-119 Puts

Extended Watchlist: 

TOMDF Run Continues

Todos Medical, Ltd. TOMDF

We have been tracking TOMDF since Tuesday morning in the premarket, when we included it in our extended watchlist. At the time, it was trading for as little as .0413 per share, and while it had a solid session that day, the gains hadn’t quite yet cracked the double-bag threshold.

Yesterday, after another really good performance, that mark was attained and then some. TOMDF has gone on to hit a new high of .17 for us, which works out to a big gain of 312%

The company’s rapid (2-10min) COVID-19 point-of-care test has been the primary reason for the stock’s huge moves. We will stay updated on the progress of the company getting the tests put into action, and will be interested to see if more upswings are on the horizon as a result.

Options Recaps

We signaled a range of options in the GILD chain in yesterday morning’s report. with the GILD Weekly $79-81 Calls. Thanks to a pretty good day for the markets, all things considered, we witnessed some very nice moves out of those targets.

Weekly $79-81 Calls
 3.44-8.00 (+133%)
$80: 2.68-7.42 (+177%)
$81: 2.49-6.05 (+143%)

Fresh Ideas:
CRWD Weekly $47.50-50 Calls & 03/27 $52-53.50 Calls

Extended Watchlist:

Panic Buying/Selling Goes Viral

Co-Diagnostic Inc. CODX – Review

The last time we mentioned CODX in one of our reports was toward the end of last month, and at the time the coronavirus was not inspiring as much fear as it is presently, but the stock had still already begun to trade high volume and edge upward.

Now, with the CDC warning of a potential pandemic, even as some public officials attempt to downplay the significance, fear-buying has driven up stocks like CODX, which happened to be the #2 gainer on the NASDAQ yesterday. It enabled new highs for us, and we’ve now seen CODX run from a low of 1.52 up to 10.89 in just over a month’s time! That’s a fantastic increase of 616%

The stock has broken $14 in the premarket, so our observed range stands to increase significantly today.

Vaxart Inc. VXRT

Speaking of coronavirus plays, we signaled VXRT on January 31st and promptly provided an update this month on the 4th, and it too has enjoyed a fear-powered run up the chart.

Our initially observed low on this play was .956, and as of yesterday’s new high of 1.91 that works out to an upswing of 99% With the stock on the verge of hurtling upward into blue skies, (over $2 in the premarket) we’re going to want to continue to keep an eye peeled for further activity.

Fresh Options Ideas:
SQ Weekly $78-80.50 Calls
MAR Weekly $120-117 Puts 

Extended Watchlist: