SPDR S&P500 (ETF) SPY
As we close out another solid week of stock and options trading, we just wanted to provide one final update on the SPY Calls we made earlier in the week. The markets dipped in the first half of the session yesterday, but recovered throughout the rest of the day.
Our idea from our premarket report on Wednesday morning of the SPY Weekly $296-297 Calls all produced double-bag intraday opportunities, and the two sets that we rolled up to include on our watchlist, the $297.50 and $298 Calls, kicked in multi-bag performances of their own.
$296 Calls – Range: .99-2.16 – Max Gain: 118%
$296.50 Calls – Range: .74-1.76 – Max Gain: 138%
$297 Calls – Range: .55-1.39 – Max Gain: 153%
$297.50 Calls – Range: .40-1.05 – Max Gain: 163%
$298 Calls – Range: .27-.77 – Max Gain: 185%
Just as there was yesterday, there may be another dip and rip chance for opportunistic traders to seize upon, so we’ll leave these plays on our radar as we finish out the week.
IGNG, PRPO, OSTK, TBLT, DSLV, XBIO, ZIOP, TMDI, PSTV, LVS, AMRH, NTLA, EKSO
Acuity Brands, inc. AYI – Options Idea
After a lackluster Q3 report, AYI took a gut punch yesterday, but began to recover before the day was through, and appears to want to continue to course-correct today.
We are going to radar the AYI 07/19 $125-130 Calls. Even if this holiday shortened week comes to a predictably quiet close and doesn’t provide a ton of activity, we’ll still have plenty of time to get results before the 19th.
comScore, Inc. SCOR
We’ve found what appears to be a prime bottom-watch candidate in SCOR. The stock is egregiously oversold at the present time, and has managed a couple of positive sessions this week.
The volatility potential on this stock is high. It’s not unreasonable to think that it could return to the $10 level or better over a period of several weeks or perhaps even months. We’ll designate this as a longer-term recovery play.
TBLT, NAK, ZIOP, FCEL, SNSS, OTLK
VelocityShares Daily 2X VIX ST ETN (TVIX)
As we’re sure everyone is aware, we’ve seen the biggest two-day downturn for the markets in history. Luckily, we had already added TVIX to our watchlist in our report on the morning of January 30th.
We began tracking this fund, which trades inversely to the market as a whole, and subsequently observed a low of 5.50. With the market bloodbath yesterday, the TVIX was pushed to a new high of 14.77.
That landed our total possible gain on this play at 169% but that figure has grown even further as a new high of 20.30 was registered in premarket trading this morning putting our total observed range on the TVIX at 269% over a span of just a few sessions.
Lumentum Holdings Inc. LITE
We’re also seeing a stock that is bucking the trend this morning. Even as it appears we’re headed for another down day in general, LITE is gapping up in the market after having recently bounced off of its lowest PPS since last May.
We’re actually going to go bullish on this one, and signal the LITE Weekly $44-46 Calls for observation.
Quotient Ltd. QTNT
Speaking of bounceplays, QTNT is looking interesting as well. We wanted to quickly make note of this. As you can see on the chart snapshot included below, it saw some surprising activity yesterday but came back to settle below 3.00, with the MACD on the cusp of a bullish cross and the RSI giving off a heavily oversold signal.
We’ll keep an peeled here as well, for another possible bucking of the ominous trend currently underway for the markets at large.
ZIOP, IPWR, TENX