Pivotal Software Inc. PVTL
We’ve been quietly tracking this play for quite some time, and feel it’s just about ready to make a move. As you can see on the included chart, PVTL has sold off after recent earnings, and the stock has found support at a solid double-bottom in the $19-range.
You can also see that PVTL is approaching heavily oversold territory, and the MACD is converging sharply toward a bullish cross, not to mention a sizable gap to the upside. We’re going to want to have a range of options contracts on watch in the days and weeks ahead in the event that the rebound occurs which looks just about due at the present time.
Our targets will be the PVTL 10/19 $19-22 Calls.
Blackberry Ltd. BB
We also want to designate a pair of options contracts for the Blackberry chain this morning on the heels of the company’s Q2 profit beat.
We’ll be looking for a dip-and-rip scenario, which, if it occurs, should produce some significant gain opportunities in the BB Weekly $10 & $10.50 Calls.
ENPH, MRTX, DGLY, GERN, IGC, IMMP
CarMax, Inc, KMX – Recap
Yesterday morning we placed a set of contracts from the KMX chain on our radars, and while we didn’t yet see a clean sweep of gains from bottom to top, the beginnings of some really nice activity did take place in the lower end of the range.
We had designated the KMX Weekly $77-79 Calls as our contracts of interest and the 77-78’s came alive for some excellent intraday moves.
$77 Calls – Range: .10-.85 – Max Gain: 750%
$77.50 Calls – Range: .11-.60 – Max Gain: 445%
$78 Calls – Range: .05-.40 – Max Gain: 700%
Adobe Systems, Inc. ADBE – Recap
We included an idea for the Adobe options chain on Monday morning, and have also seen some very nice gains there as well this week. This all three of our targets, the ADBE 10/26 $260-265 Calls have produced chances at big-time multibag gains over the past three sessions.
We reported nominal gains on Tuesday morning, but after an extra couple of trading days, we’ve seen those ranges extended by a considerable margin.
$260 Calls– Range: 8.05-14.28 – Max Gain: 77%
$262.50 Calls – Range: 7.25-12.93 – Max Gain: 78%
$265 Calls – Range: 4.85-9.90 – Max Gain: 104%
CEI, AMRS, UPL, AMDA, GWPU, YUMA, AWSM
Earnings-Related Options Ideas
Our regular readers know that quick-strike options trading of plays that have just seen their quarterly earnings releases are among our favorite scenarios. The volatility afforded to us by these events is key to the type of opportunities we are commonly after.
This morning, we have NKE which has untraded-upon earnings reported in the post-market yesterday, and Carmax which dropped its report in the premarket today. We’ve got a set of bearish ideas for NKE and bullish ideas for KMX.
We’ll place the following targets on our watchlist today to monitor throughout the remainder of the week:
CarMax, Inc, KMX Weekly $77-79 Calls
Nike, Inc. NKE Weekly $83.50-81.50 Puts
L.B. Foster Co. FSTR
We also have a longer term idea for the FSTR chain. As you can see on the chart snapshot we’ve included below, the stock is presently exhibiting a strong multiple-bottom.
We’re going to place the FSTR 10/19 $22.50 & $25 Calls on watch in the likely event that a recovery does occur.
MYSZ, TTOO, GPRO, GLBS, TTNP, INNT, DCIX, ONTX