SPDR S&P 500 ETF Trust (SPY) Update
We are continuing to track the SPY options we signaled on Monday morning, which brought solid gains, as we reported yesterday. Our targets, the SPY Weekly $319-320 Calls registered 93% and 110% moves, respectively.
Yesterday, they underwent a dip-and-rip, creating another opportunity for those who may have missed the first. Here are the daily ranges on our tracked contracts, which should also be setting new highs once again today, if the premarket activity we’re seeing is any indicator:
SPY Weekly $319-320 Calls
$319: 1.08-3.23 (+199%)
$320: .75-2.68 (+257%)
We’re just getting through a period of extremely thin options reporting, but we have finally reached the point where it will all begin to turn around. We have just a couple interesting reporters today, but starting tomorrow we should have plenty more targets to choose from. Several big names are slated to drop earnings over the next week.
GS Weekly $217.50-222.50 Calls
INFY Weekly $11-12 Calls
PAOG, MEDH, CORG, ENZC, NXTC, DMAN, QSEP, YAYO
Rite Aid Corp. RAD – Update.
We have been attacking the RAD options chain on a number of fronts, most recently being Friday morning, when we issued a couple of sets of ideas. Today we will focus on those expiring this Friday, which were the RAD 01/03 $21-23 Calls.
We’ll continue to monitor these plays throughout the rest of this holiday-split week, but for now, here were the ranges and total possible gains on those five sets of RAD contracts:
$21 Calls: 2.00-4.90 (+145%)
$21.50 Calls: 1.07-2.51 (+135%)
$22 Calls: 1.50-2.46 (+64%)
$22.50 Calls: 1.18-2.10 (+83%)
$23 Calls: .78-2.01 (+158%)
We also signaled interest in a much longer term RAD idea on Friday morning, with the RAD 04/17 $27-30 Calls, which we are not quite ready to report on just yet, but will continue to monitor into the New Year.
Fresh Options Idea:
Pampa Energia PAM 03/20 $22.50-25 Calls
NIO, ACST, SVRA, YAYO, NIO, SPHS, OCUL
HAPPY HOLIDAYS, ONE AND ALL!
We want to start things off this short trading week, by wishing everyone a happy holiday season, no matter how you celebrate!
This is traditionally a very low-key week for the markets, as most people are focused on enjoying their families or time off from work at this time. Especially with no major earnings reporters on the calendar, we expect a relatively subdued start to the week as well.
General Mills, Inc. GIS
One thing we do want to do is circle back to the call we made for the GIS options chain on Wednesday, which made a pretty good move into the end of the week, and will be high on our watchlist , as further gains are very possible.
We had highlighted the GIS 01/17 $55 Calls, and they subsequently made a very impressive move from .10-.29, marking a rise of 190% We will continue to keep an eye on this play, as GIS attempts to break the double top around the $54 mark. A break of that area will send these gains soaring.
Fresh Options Ideas:
Finally, it wouldn’t feel like the start of a fresh trading week without some fresh options speculation.
We’re going to radar the SPG 01/17 $145-150 Calls as the chart is in a prime bottom-bounce setup. We took it out to the January 17th’s to give ourselves ample time to witness what appears to be an impending rebound.
SDRL, ACHV, ONCY, CALA, YAYO, CPRX, FBIO, ITCI, LLEX