Yesterday, our premarket report included two fresh sets of options trading ideas for Under Armour, and Take Two Interactive, and thanks in part to a nice rebound for the markets, we were able to see some really nice gains in our designated plays.
Both of these were companies that had just reported their quarterly earnings, which just reinforces why we continue to make these same kinds of calls over and over again. Post-earnings options trading, while just as risky as any other type of short-term trade, is also just about the most reliable way to find quick-strike opportunities to profit.
Here were the trading ranges and total possible single-session gains that could have been banked off of yesterday’s ideas:
Under Armour Inc. UAA $19-20 Calls
$19 – 2.69-4.20 (+56%)
$19.50 – 2.65-3.82 (+44%)
$20 – 1.75-3.25 (+85%)
Take-Two Interactive Software, Inc. TTWO $122-125 Calls
$122 – 4.00-5.60 (+40%)
$123 – 2.49-5.70 (+129%)
$124 – 2.50-4.20 (+68%)
$125 – 2.50-4.00 (+60%)
Fresh Options Ideas:
FB Weekly $150-155 Calls
EBAY $28.50-30 Calls
GM Weekly $35-37 Calls
SPY Weekly $269.50-271.50 Calls
PVH, TNXP, CRON, CGC, CRC, SMI, RIOT, YNDX
The Hershey Co. HSY
We’re looking at one of the biggest players in the Halloween candy game in Hershey as we kick off a fresh trading week. The company reported its Q3 earnings on Thursday, and despite a frosty reception from Wall Street, we are liking the look of this play.
The company asserts that it is on a good path, having had what the CEO calls a game changing year. While the stock did see its biggest daily loss since 2016 on Thursday following the report, it did not turn into a multi-day slide. Coupled with what looks to be another rebound day for the markets at large, and we’re interested in signaling a few HSY Calls.
We’ll place the HSY Weekly $102-104 Calls on watch this morning.
Nutanix, Inc. NTNX 01/18 $42.50 & $45 Calls
SPDR S&P 500 ETF (SPY)
On Tuesday, we noted that with such a sharp and rapid downturn in the markets, that a rebound was certain to be in the cards for the SPY. It led us to signal interest in the SPY 10/31 $275-277 Calls, which will certainly be in play today as the SPY is gapping up big this morning in the premarket.
We’ll be back tomorrow morning with a recap of what is likely to be a cleanup session for these plays today.
DPW, ESES, XSPA, AKER, SBS, TLRY, AMRN, NXTD, STNE