Blue Horseshoe Stock: Tech Options Plays

TECH OPTIONS

We’re seeing a bit of a rebound in the markets this morning after they once again got crushed yesterday. Partially due to a better-than-expected economic report on Durable Orders, we’ll look for the highest profile companies with fresh earnings out that appear set to move this morning.

TSLA and MSFT both dropped their reports in after-market hours yesterday, and look to be our most promising potential targets today.

The tech sector as a whole was among the hardest hit in the recent spate of losses for domestic stocks, with many, if not most of its players being beaten back to unsustainably low levels, so the timing is actually quite good for some solid movement off of these earnings reports.

We expect a market recovery to provide us with plenty of chances to take advantage of all of these underpriced stocks as they rebound in the days and weeks ahead.

TSLA Weekly $310-317.50 Calls
MSFT Weekly $104-107 Calls


Extended Watchlist: 
HSGX, VLRX, NOG, ALT, ENBL, HLT, BILI, NXTD, XLNX

Blue Horseshoe Stocks: TGT Review & More


Target Corp. TGT

For a fresh set of options ideas yesterday morning, we had signaled the TGT Weekly $87.50-89 Calls for observation after the company recorded its best quarterly figures in a decade.

Despite posting a red candle on the day, the early activity in the stock was sufficient to provide our selected options contracts with the juice to make some respectable intraday rips.

$87.50 Calls – Range: .70-1.50 – Max Gain: 114%
$88 Calls – Range: .55-1.22 – Max Gain: 122%
$88.50 Calls – Range: .43-.95 – Max Gain: 121%
$89 Calls – Range: .14-.40 – Max Gain: 186%

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FRESH IDEAS:

We’ll continue to stick with big name earnings plays as long as they’re on the table. Earnings related options trading has become our bread and butter, and for good reason. As TGT proved yesterday, we don’t even need for these stocks to close in the green to give us what we’re looking for- all we need is the right early morning activity.

Today we’ve got a pair of fresh ideas that also just reported earnings. We’re going to be monitoring the Alibaba Group Holding Ltd. BABA Weekly $180-185 Calls, and the Williams-Sonoma, Inc. WSM 09/21 $67.50 & $70 Calls.


Extended Watchlist:
LX, SNPS, NEWA, SNPS, VLRX

Blue Horseshoe Stocks: AAP Recap & More

Advance Auto Parts, Inc. AAP

One of yesterday’s two options ideas that we offered up to our readers, AAP’s daily performance was the most pronounced. The machinations of the stock allowed for notable intraday gain opportunities, on the heels of the company’s Q2 earnings call. Those gains were as follows:

$145 Calls – Range: 8.92-14.55 – Max Gain:  62%
$150 Calls – Range: 4.80-9.67 – Max Gain: 40%
$155 Calls – Range: 2.50-5.40 – Max Gain: 51%

We’ve also caught word of a large share repurchase, so despite the fact that AAP is already in blue skies, we’ll continue to monitor these ideas.



The Home Depot, Inc. HD

The other fresh idea from yesterday’s report were the HD Weekly $195 & 197.50 Calls, and those also managed to produce significant chances for profits on the day.

The $195′s traded in a range from .81-2.46, a gain of 204% while the $187.50′s ran from .39-1.28. That was good for intraday gains of 228%



Energen Corp. EGN

Another longer-term set of ideas we recently offered up, the EGN 09/21 $75 & 77.50 Calls, have also begun to produce results. The $75 Calls gone from  1.10-1.95 (+77%), and the $77.50′straded from .90-1.10 (+22%).

While those are merely marginal moves, the stock is gearing up for another bullish session, gapping up significantly here in the premarket. We expect to see the ranges on these calls extended by a significant margin today.


FRESH OPTIONS IDEAS:
Constellation Brands, Inc. STZ 
just purchased an additional $4B stake in Canopy Growth Corp. CGC,putting the beverage manufacturer effectively into the cannabis business. We will signal some calls here in both cases.For STZ, the 09/14 $220 & 222.50 Calls, and for the Canopy chain- the CGC 09/21 $30-40 Calls.


Extended Watchlist:
VLRX, GST, SXE, IDRA, STAF, NEPT

Blue Horseshoe Stocks: DRI Review & More

Darden Restaurants, Inc. DRI

On occasion, we’ll see an opportunity for a longer term move in a stock, and instead of signaling weekly options, we’ll select a later expiration date. This is what occurred with DRI, when we signaled the DRI 07/20 $100-115 Calls back on the 22nd of last month.

After roughly three weeks, DRI has done little else other than continue to climb, and it has provided some really great chances thus far in these contracts that are set to expire this Friday.

Here are the total gains that have been made possible by this idea to date:

$100 Calls – Range: 3.00-12.30 – Max Gain: 310%
$105 Calls – Range: .90-7.30 – Max Gain: 711%
$110 Calls – Range: .30-2.50 – Max Gain: 733%
$115 Calls – Range: .05-.55 – Max Gain: 1000%


Biocept, Inc. BIOC

We also want to track back to our tag of BIOC from Friday. The stock had been showing the beginnings of some bottom bounce activity earlier in the week, and our hunch that further gains were possible turned out to be correct.

BIOC traded in a daily range from 7.06 on up to a high of 12.15, which represented an intraday pop of 72% on Friday.


Extended Watchlist:
VLRX, RGSE, ATIS, ARNC, PULM, KOOL, SNES

Blue Horseshoe Stocks: ANW Bottom Bouncer & More

Aegean Marine Petroleum Network, Inc. ANW

We hope everyone had a pleasant midweek holiday break; we expect a relatively subdued closeout to this short week, but one stock that is hitting our scanners as a high potential bottom play this morning is ANW.

As you can see from the included chart, the stock has been oversold for quite some time now, reaching unsustainable low levels, while a massive gap exists to the upside.

The stock has begun to fill that gap this morning, and we’re interested to see where the spike in activity is going to take ANW.


Extended Watchlist:
LBIX, TKC, AU, HMNY, SAEX, VEON, MXC, VLRX