Activision Blizzard, Inc. ATVI
On Friday, our primary focus was a bottom play in the form of ATVI, which had just been beaten back to its lowest prices since December of last year. Our inclination was to signal a range of longer term calls in the options chain, and we had instant results from those ideas.
All four of the contracts contained within our designated range produced single-session gains of a significant nature.
$55 Calls – Range: 3.20-5.00 - Max Gain: 56%
$57.50 Calls – Range: 2.30-3.60 – Max Gain: 57%
$60 Calls – Range: 1.40-2.68 - Max Gain: 91%
$62.50 Calls – Range: .90-1.84 – Max Gain: 104%
Aurora Cannabis, Inc. ACB
We have followed ACB for years, but this is the first time we’ve done a feature on the stock since it was ACBFF trading on the OTC Markets. The company uplisted to the NYSE, making it one of the few cannabis plays to do so.
After having been trading at a relative bottom toward the end of last month, the stock has been gaining some ground, and is gapping up a bit this morning on the heels of its quarterly earnings report.
Aurora’s revenue increased four-fold, and its earnings surpassed $100M in the first report issued by the company since the legalization of marijuana in Canada barely a month ago. We’ll be very interested to follow up with its conference call and expected guidance, as well as track it more closely through this new quarter.
Cronos Group, Inc. CRON
Speaking of earnings, CRON has a report upcoming early this week, and despite the PPS tapering back over the past couple of sessions, we’ll be interested to follow along with its post-release activity.
We tracked CRON over its recent solid 53% run from 6.50-9.95, and we’ll be eager to see if a solid earnings report can help reinvigorate the stock. We also made some great options calls on CRON last week, which we may swing back around and do again tomorrow, with favorable enough quarterly figures.
AMH, APTI, UPL, GSL, TTNP, ONVO, SBGL, VTL(Bottom play)