Due to the sheer number of winning plays to report on from Friday’s newsletter, we will give only a brief summary including the name of the company, the ideas we submitted, and the total possible gains they had provided by the end of the week.
Nearly everything we’ve had our hands in recently has made some type of the move to the upside, continuing a very promising trend that we have established in the first months of 2019.
AstraZeneca plc AZN -We cited some contracts here earlier in the week (Weekly $39-39.50 Calls), as well as updated that idea on Friday with a couple of new targets at higher strike prices (Weekly $40-40.50 Calls). All contracts involved saw significant moves/new highs.
$39 Calls – Range: .55-1.39 – Max Gain: 153% $39.50 Calls – Range: .19-1.35 – Max Gain: 611% $40 Calls – Range: .23-.95 – Max Gain: 313% $40.50 Calls – Range: .12-.38 – Max Gain: 217%
Electronic Arts, Inc. EA - We had the EA Weekly $107-109 Calls in Friday’s report as a fresh idea, and all three of those plays could have worked out nicely for traders. We saw double bag gain opportunities across the board in this case.$107 Calls – Range: .78-1.60 – Max Gain: 102%
$108 Calls – Range: .50-1.13 – Max Gain: 126% $109 Calls – Range: .33-.66 – Max Gain: 100%
Canopy Growth Corp. CGC – We’ve been watching Canopy since well before the stock uplisted to the NYSE from the OTC, and while what was supposed to be a Canadian cannabis boom has been much more subdued than anticipated, we still like to keep tabs on this one and use its activity to our advantage wherever possible. On Friday we targeted the CGC Weekly $46.50-48 Calls and were met with multi-bag intraday gains there as well.
$39.50 Calls – Range: .83-2.01 – Max Gain: 142% $40 Calls – Range: .62-1.60 – Max Gain: 158% $40.50 Calls – Range: .43-1.20 – Max Gain: 179% $40 Calls – Range: .31-.90 – Max Gain: 190%
SPDR S&P500 ETF (SPY) - Last but not least, we had an idea for the SPY options chain, as we very often do, and all of those contracts provided us with big profit chances as they very often do! All five targets in the range of our SPY Weekly $274.50-276 Calls made big moves.
$274.50 Calls – Range: .85-2.92 – Max Gain: 244% $275 Calls – Range: 1.26-2.62 – Max Gain: 108% $275.50 Calls – Range: .86-2.61 – Max Gain: 203% $276 Calls – Range: .50-1.60 – Max Gain: 220% $276.50 Calls – Range: .22-1.10 – Max Gain: 400%
Walmart, Inc. WMT – Fresh Options Idea
Today we want to keep things rolling with a new idea to kick the week off on, and that is going to be WMT Weekly $101-104 Calls. The stock broke a double-top area of resistance on Friday, and this morning, an across-the-board earnings beat should help create some nice activity in our designated range.
Advance Auto Parts, Inc. AAP Weekly $165-170 Calls
We’re sticking with options as we head into the end of what has been quite a difficult week for stocks in general. All things considered, we still feel it’s the most probable way of coming by short term gain opportunities, even amid less-than-ideal conditions.
Walmart, Inc. WMT – Walmart reported its Q3 earnings this morning, and looks like our top target for the day as a result. Heightened sales, both brick and mortar and via Walmart.com, was the name of the game, as the company jacked up guidance on profits for the 2019 full year.
These developments are definitely moving the needle this morning, so we’re going to want to track the WMT Weekly $101-104 Calls.
Cisco Systems, Inc. CSCO – In its own Q1 report in the post-market yesterday, we have an untraded-upon earnings and revenue beat for CSCO, so we’re also going to formulate an idea here.
In conjunction with a solid multiple bottom formation on the chart, the present conditions may favor our chances for a quick strike trade on the CSCO Weekly $45-50-47.50 Calls.
AMRN Weekly $15.50-17 Calls
One of yesterday morning’s fresh options ideas, the CGC 09/21 $30-40 Calls turned in a very nice intraday performance. Despite the stock posting a red candle on the day, the activity still provided us with some excellent chances to score a quick profit.
It stemmed from beverage giant Constellation Brands increasing its stake in Canopy by a whopping $4B. Here are the gains that were on the table as a result, making this another fantastic call on our part.
$30 Calls – Range: 1.76-3.81 – Max Gain: 62% $35 Calls – Range: .56-1.50 – Max Gain: 40% $40 Calls – Range: .16-.56 – Max Gain: 51%
Walmart, Inc. WMT
For today, some of the most promising options plays are likely to be in the WMT chain. The company posted a bigger Q2 sales boost than it has in a full decade. To correlate with the spike in attention and activity we are going to signal a range of calls to monitor into the end of the week.
We’ll be tracking the WMT Weekly $97-101 Calls, which should score some good opportunities on a likely dip-and-rip scenario this morning.
Walmart was already building a nice head of steam on the chart in the weeks leading up to this morning’s earnings release. Things have kicked up a notch this morning as Walmart recorded a resounding across-the-board beat, including an online sales increase of 33%
Given that we are always looking out for opportunities to trade options on the heels of a solid earnings beat, we are going to slate some Walmart calls for observation this morning.
We’ll be tracking the WMT Weekly $86.50-88.50 Calls after what we expect should be a dip-and-rip scenario.
Altimmune, Inc. ALT
We would also like to make mention of ALT this morning, after taking notice of the significant pickup in both price action and volatility yesterday.
That was preceded by a lengthy consolidation period as you can see on the snapshot below, and at the present time, the stock is beginning to come off of being oversold. We’ll watch this one for a potential recovery play in upcoming sessions.
Extended Watchlist: BDSI, BIOC, BLNK, IMMU, FRED, NOG
Our most recent mention of EBIO came just a week ago on April 23rd, and we felt it was time this morning to come back to this play and comment on the excellent performance we’ve seen from it since then.
Our observed low on the stock was 1.83 on the 23rd, and it hasn’t looked back, reaching a high of 2.86, which represents a respectable upswing of 56%
Spectrum Global Solutions, Inc. SGSI
Last but not least, we have SGSI, which we slated for observation on April 25th, and from thoe low we observed that day of .0055, we’ve seen a solid double-bagger from the stock as it has run to a high of .012, for a 118% rise.
SGSI reached that high yesterday on over 10X the average volume, in addition to there being quite a bit of From-4 activity in the company’s disclosure feed. We’ll continue to keep our eye on it.