LULU Success, Fresh Options Plays

Lululemon Athletica Inc. LULU

Yesterday morning, we hashed out some options ideas, among which were the LULU Weekly $340-335 Puts. The company’s year-over-year quarterly figures came back low, as is to be expected with many retailers during the pandemic.

The lackluster earnings drop provided our bearish ideas with some intraday firepower that was as follows:

LULU Weekly $340-335 Puts 
$340: 12.02-25.55 (+93%)
$337.50: 10.95-22.37 (+105%)
$335: 9.26-21.40 (+118%)
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Fresh Options Ideas: 
RH Weekly $360-380 Calls
SPY Calls $340-341 Calls 


Basanite Inc. BASA 

On Tuesday morning, we signaled BASA for observation, keeping it on yesterday’s extended watchlist as well. Over those couple of sessions, the stock has made a very nice move from Tuesday’s low of .6147 to yesterday;s high of 1.12.

That works out to an intraweek wing of 82% and we will continue to keep an eye on this runner for the possibility of further advances.


Extended Watchlist:
VNUE, BFGC, VYON, WHEN, KNRLF

IBIO Streaks to New Highs

iBio, Inc. IBIO

We have been tracking IBIO since the early stages of the coronavirus pandemic, and it is among those stocks that have continued to perform and work its way to new highs.

We first highlighted it on March 17th, while it was trading a low of .76, and we followed up a couple of weeks ago at the end of June to mention that it had made a multibag move for us to 2.69 (+254%). Yesterday, with the largest single session gain of the year for IBIO, we saw a new high of 3.98. That extends our overall observed upswing on this play to 424%

Those who may have only caught our June 29th update, still had a big opportunity, as the stock pulled back to 1.85 before launching into this latest run. Gains of up to 115% were possible there.


Fresh Options Ideas
AA Weekly $12.50-13 Calls
SPCE Weekly $18-19 Calls
BSGM Weekly $7.50 Calls 


Extended Watchlist:
TH, SPOM, ITIX, PBR, VYON