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.
We have been exceedingly pleased with the recent performance of ENPH, which, despite recent volatility in the markets at large, has been on an incredible bull run for several weeks. We alerted our readers to ENPH’s momentum on the last day of February, and in the two trading weeks since then, the stock has barely skipped a beat.
From a low of 3.07 on the morning of our initial alert, we’ve seen ENPH steadily rise, leading to a new high of 4.74 on Friday. That works out to a very solid run of 54% In the last week especially , the stock showed little sign of slowing down, so we’ll be interested to see where its fortunes take it this week.
Walmart, Inc. WMT – Options Review
We’ve been tracking a wide range of extended-term WMT Calls since the middle of last week, the WMT 04/20 $95-97.50 Calls. We wanted to provide a quick update on the moves we had witnessed by the end of the week.
At the bottom of the range, the $95 Calls ran from .25 to .51 for a gain of 104% At the top, we saw the $97.50′s rise from .11 to .24, a 118% rip. The four sets of contracts in between those two also produced opportunities at commensurate profits. With plenty of time prior to expiration, we’ll leave these contracts on our radar and continue to monitor them as we kick off a fresh trading week.