Nutanix, Inc. NTNX – Fresh Options Idea
Today is figuring to be options heavy, with a few ideas jumping out to us here in the premarket this morning. NTNX, the first on our list, is currently exhibiting a chart setup that we’re constantly on the lookout for. We’ve got a stock rising up off of recent relative lows, with a massive gap to the upside, and a couple of our favorite buy indicators really standing out.
The RSI is attempting to come off of being egregiously oversold, while the MACD is rapidly converging toward an impending bullish cross. From the current juncture, a more pronounced rebound for NTNX looks imminent. We’re going to go ahead and signal the NTNX 05/19 $40-42.50 Calls to coincide with the present scenario.
More Fresh Ideas:
We also tirelessly look for earnings related options plays, and may have found a couple today, despite the current earnings calendar being a little on the light side.
MOMO Weekly $34.50-36 Calls
SFIX Weekly $33-35 Calls
DCAR. NKTR, TXMD, CRBP, BLIN, TROV
Tesla, Inc. TSLA
When we left off with TSLA on Wednesday after seeing double bag moves in the calls we had tagged the previous day
, we stated that we had “reason to believe that we may see some further opportunities in these ideas before the week is out.”.
Those calls were the TSLA Weekly 337.50-347.50 Calls and our assumption that they would provide another wave of gain opportunities proved to be completely accurate. We did in fact get a bigger round of gains which we’ve listed below. These ranges represent a two-day swing from Wednesday’s lows to yesterday’s highs:
$337.50 Calls – Range: 7.50-21.20 – Max Gain: 183%
$340 Calls – Range: 6.07-18.70 – Max Gain: 208%
$342.50 Calls – Range: 4.90-15.98 – Max Gain: 226%
$345 Calls – Range: 4.00-13.78 – Max Gain: 245%
$347.50 Calls – Range: 3.20-11.48 – Max Gain: 259%
Canada Goose Holdings Inc GOOS – Fresh Idea
Despite already being at its annual highs, GOOS is running like scalded dog this morning in the wake of its quarterly earnings report.
We’ve always got our eyes on the earnings calendar to look out for opportunities such as this, to take quick advantage of a rapid rise in volatility. We’re going to slate the GOOS Weekly $50-60 Calls* for observation, which could provide us with a few chances for gains to close out the week.
*Never trade weekly options on a Friday unless you are an expert trader with disposable funds!
BAK, TXMD, MTNB, CPST
Tintri, Inc. TNTR
Our bottom call of TNTR yesterday morning to kick off the short week could not have been more perfectly timed. For more than two months the stock had been crushed down ever lower, reaching a new 52-week low once again on Friday.
We noted a significant swell in the amount of short interest in the stock, and now it appears as if the squeeze is on- the bottom bounce we said we’d be watching closely for happened right on cue and it was no small move. The stock saw its low at .36 and subsequently ran to .71, marking an intraday rip of 97%
We’re going to want to watch out for a more sustained recovery, and look to TNTR to establish higher lows over the coming sessions.
Dicks Sporting Goods, Inc. DKS
Dicks posted its quarterly report, and took off like a rocket in the premarket today, shooting up over 20% on a hefty earnings neat and raised guidance going forward.
We’re always in the mood to take advantage of a rapid spike in price action and volatility. We like to use options to leverage the activity to our benefit, and in this particular case, we are going to want to cast a wide net and keep a close eye on the DKS Weekly $35-40 Calls.
HP, Inc. HPQ Weekly $21-22 Calls
CODX, CRMD, NAK, CRM, OGEN, TXMD, UPL, BGI