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.
VLRX, RGSE, ATIS, ARNC, PULM, KOOL, SNES
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.
LBIX, TKC, AU, HMNY, SAEX, VEON, MXC, VLRX
Biglari Holdings, Inc. BH
We noticed BH this morning purely on the stock’s interesting chart setup. The stock had been crushed down at the end of last month after the company announced its recapitalization plan. We’re not saying the move shouldn’t have resulted in a decline in the stock’s price, but these selloffs tend to have a snowball effect, and BH has been over-abused.
Simply take a look at the chart below and you can see what we[re talking about. The RSI has been as heavily oversold as you’re likely to see, while the stock has begun to regain some of its lost ground. The MACD is also loudly signaling the potential for a rebound, so we’ll have our eyes peeled.
International Flavors & Fragrances, Inc. IFF
Speaking of bottom play opportunities, we may have an even more interesting one here in IFF today. This stock is currently boasting a cherry of a chart as well, with all of the indicators we commonly scan for showing strong impending bullish signals. Not to mention the Form-4 filed yesterday wherein a 10% ownership insider purchased a $25M block at just a penny below yesterday’s closing price, down here at the bottom.
To help us leverage some good gains out of this one if indeed it can mount the rebound we suspect it might, we’re going to want to be tracking the IFF 06/15 $125-135 Calls.
VLRX. UPL, AMRS, SDR, CARV, EIGR, QTNT
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