S&P 500 ETF Trust (SPY) – Recap
Our main winner from Friday morning’s premarket report was our idea for the SPY. The markets saw an early rip out of the gate before pulling back, running once again, and eventually tapering off into the close.
As a result of the activity we observed, our designated contract sets experienced two separate and significant surges on the day. Here are the total possible gains afforded by the moves that occurred:
SPY 07/02 $313-314 Calls
$313: 1.88-4.22 (+47%) | .67-1.55 (+47%)
$314: 1.28-2.10 (+49%) | .36-.77 (+47%)
Other Recent Winners:
Plug Power Inc. PLUG – We also want to begin this fresh trading week by re-highlighting PLUG, which we most recently talked about on June 24th. Subsequent to that report, the stock traded for as little as 6.91 a share, and on Friday the stock attained a new high of 9.65. This morning in the premarket we’ve seen shares change hands for 10.09.
That puts our total observed increase on PLUG in under two weeks at a respectable 46% and warrants further attention going forward.
Overstock.com Inc. OSTK – Another recent performer we’ve been hot on the trail of is OSTK, which we mentioned quite a bit back in May. Since then, OSTK has done little else other than climb its way to new highs week after week.
When we first alerted on OSTK it was trading at 15.45, and to close out the short week on Thursday, the stock had hit 39.38. That works out to a 2-month upswing of 155%
UBER, BA, UONEK, DUK, LMFA BLDP, FCEL, NIO, BLNK
The Cato Corp. CATO
With the coronavirus pandemic still raging, we’ve been forced to move away from our traditional technical-based trading methods and become more opportunistic. In the case of CATO, however, we have an interesting opportunity with the stock being pressed down to its lowest prices in over a decade, just yesterday.
We are always looking for stocks that are searching out new lows, and will observe carefully in the days and weeks ahead as CATO establishes its own bottom. The company announced at the beginning of last month that would reopen most of its stores.
ABM Industries Inc. ABM
In yesterday’s premarket report, we signaled a pair of contract sets to put on watch in the ABM chain, and we did see some solid movement in those on the day. They were the ABM Weekly $30 & 35 Calls and both made notable increases, with an especially impressive performance coming from the $35’s.
ABM Weekly $30-35 Calls
$30: 5.00-8.60 (+72%)
$35: 1.11-4.00 (+260%)
JBL Weekly $33.50-34.50 Calls*
KMX Weekly $98.50-100 Calls*
*Please do not attempt to trade weekly options on a Friday unless you are an advanced level trader with access to disposable funds.
NGCG, MRGE, DECN, VYST, UONE, UONEK, SALM, NTN
As we’ve mentioned several times over the last month, we have been supplementing quite a bit of OTC-traded stocks in addition to our routine options watchlists. Here are a couple of movers that we’ve been tracking.
Ethema Health Corp. GRST – We initially alerted on GRST on the morning of June 5th, at which time the stock was trading in the super-subpenny basement at ,0002 a share. Yesterday, the stock attained an impressive new high at .0027. That’s a monster gain of 1250% in a period of just eight trading days, and it adds yet another thousand-percenter to our 2020 track record, which contains several at this point.
Creative Medical Technology Holdings, Inc. CELZ – We put CELZ on our extended watchlist in yesterday’s premarket report, and the stock produced a fairly nice intraday gain on the session.
From a low of .0044, the stock saw a high of .0073, which works out to a 66% rip. If it manages to crack recent resistance at .0075, there;s not a whole lot stopping CELZ from making a run into penny-plus territory.
Fresh Options Ideas:
GRPN Weekly $28-29 Calls & 07/02 $30-31 Calls
SIEB 07/17 $5 Calls
ATAX 07/17 $5 Calls
Special Note: H&R Block stands to see increased business flow over the next month with the tax deadline having been pushed back due to the coronavirus. We’re going to signal the HRB 07/17 $19-20 Calls for a possible swing trade.
UONEK, CLWD, ATDS, VSMR, AMNP