Blue Horseshoe Stocks

Looking to the SPY Amid Earnings Drought

Leaning on the SPY:

We started off the fresh trading week yesterday on fairly decent footing. We formulated a batch of three options ideas in yesterday morning’s premarket report, a couple of quick-strike plays and a longer-term idea. Both of the near-term targets looked pretty good for us on the day.

Those plays were the SPY 09/19 $385-383 Puts and the TTWO Weekly $119-121 Calls , with the latter producing larger gain opportunities by a fairly large margin as you can see here. We’re going to stick with the strategy of going bearish on the SPY once again today with a fresh target range that you can find below. We may find ourselves looking to the SPY more and more as the present earnings dry period persists.

SPY 09/19 $385-383 Puts
$385: .70-2.00 (+186%)
$384: .50-1.46 (+192%)
$383: .34-1.02 (+200%)
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TTWO Weekly $119-121 Calls
$119: 3.50-4.00 (+17%)
$120: 3.40-5.23 (+54%)
$121: 2.40-3.50 (+46%)

Fresh Options Ideas:
SPY 09/21 $386-385 Puts
APOG 10/21 $40-45 Calls
GIII 10/21 $15-17.50 Calls

Extended Watchlist:
VRAX, MGAM, RCOR, INSW, CYDVF, BERI, BRLL, GOCOF, ATMH

SPY Shorts Prevail, Fresh Ideas

Friday Options Recap:

We put up a fairly good performance on Friday, with both of the quick-strike options ideas we had formulated in our premarket report for the day recording significant movement during the session. The markets in general continued to get beat up, leaving our ideas which were both bearish, to make some pretty good headway for us.

Our winning targets were the SPY 09/16 $387-384 Puts, and the ADBE Weekly $305-300 Puts. , and while the potential gains for the day weren’t earth-shattering we’d still call the following numbers to be quite solid considering the lack of earnings ammunition we’re dealing with at present. As we always say, during dry spells for earnings we have to get a bit more creative than usual, but that will never stop us from giving it the old college try!

SPY 09/16 $387-384 Puts
$387: 2.39-5.05 (+111%)
$386: 1.85-4.15 (+124%)
$385: 1.42-3.35 (+136%)
$384: 1.09-2.65 (+143%)
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ADBE Weekly $305-300 Puts
$305: 8.13-12.47 (+53%)
$302.50: 5.46-10.34 (+89%)
$300: 2.91-7.99 (+174%)

Fresh Options Ideas:
TTWO Weekly $119-121 Calls
FDX 10/14 $150-160 Calls
SPY 09/19 $385-383 Puts

Extended Watchlist:
SNTI, PRPL, FOXO, KOLD, KNBE, SYRS, BCAN, VNTH, RITE, ATMH, ARTH

BEKE Review, 4 Fresh Options Plays

BEKE Recap:

With both of the options plays we signaled for observation yesterday morning being of the longer-term variety, we don’t have any immediate turnaround to report on those. However we do have an update on another longer-term options strike that we’ve been watching.

We highlighted the BEKE 09/16 $15-17.50 Calls a little under three weeks ago on the morning of the 23rd, and as we’ve cruised through this trading week en route to their expiration today, we’ve seen these plays make some very respectable moves, even as the landscape for options trading continues to taper as we head through another dry period for reporters.

BEKE 09/16 $15-17.50 Calls
$15: 1.41-3.65 (+70%)
$17.50: .50-1.45 (+191%)

Fresh Options Ideas:
SPY 09/16 $387-384 Puts*
FAST 10/21 $47.50-50 Calls
NTLA Weekly $70-65 Puts*
ADBE Weekly $305-300 Puts*

*Please don’t try to trade options on their day of expiration unless you are a well-seasoned trader. Not something for you beginners to attempt just yet, but we’ll get you there!

Nu-Med Plus Inc. NUMD – Recap:

For a more recent rehash, we just signaled NUMD as a potential OTC runner in yesterday morning’s extended watchlist, and the stock responded with quite the solid session. From a daily low of .028 the stock ripped all the way up to a high of .0605, which works out to an intraday pop on the order of a very respectable 116%

Extended Watchlist:
AURI, STEK, GHMP, MGTI, FRTG, RSHN, AAOI, CLEU, SONN, QTNT

More Options Gainers, Fresh Plays

Options Rehash:

As we’ve already mentioned this week, the landscape for earnings reporters and the subsequent frenzy they produce has been growing thin once again as we head into another quiet period. We won’t let that stop us from rooting out the best ideas we can, and yesterday’s quick-strike play, the DOOO Weekly $70-75 Calls, worked pretty well for us.

Additionally, we signaled a possible longer-term play, the AFG 09/16 $130-132 Calls in a report from a couple of weeks back, which made a noteworthy move we’ve like to review as well.

DOOO Weekly $70-75 Calls
$70: 3.02-5.50 (+233%)
$75: .70-2.85 (+307%)
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AFG 09/16 $130-132 Calls
$130: 1.33-3.43 (+158%)
$132: .35-2.65 (+657%)

Fresh Options Ideas:
SRPT 10/07 $105-110 Calls
UHT 10/21 $50 Calls

Extended Watchlist:
MGTI, NUMD, DRSF, NRBO, ATXG, NBRV, HKD, KOLD, SONN

Massive Options Movers & More

Enormous Options Gainers:

We took advantage of the SPY with supreme accuracy yesterday. In the early morning, it appeared as if futures would rise, but that was curtailed by some poor economic reports shortly before we sent out our newsletters. We flipped over to the bearish side of things for a fresh target and with the help of a deleterious session for the markets in general, it turned out to be the exact right choice.

We were tracking those SPY 09/14 $406-404 Puts, as well as the CNM Weekly $25 Calls, and witnessed huge intraday gains in both cases. We also have an update on a longer-term play from last week, when we called the GTLB 09/16 $50 Calls on Tuesday morning. Those subsequently posted multibag opportunity as well. All in all, we’ve offered up ideas that have absolutely performed as well or better than one could’ve hoped.

SPY 09/14 $406-404 Puts
$406: 4.51-14.00 (+210%)
$405: 3.90-13.00 (+233%)
$404: 3.36-12.00 (+257%)
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CNM Weekly $25 Calls
$25: .05-.85 (+1600%)
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GTLB 09/16 $50 Calls
$50: 1.24-11.70 (+844%)

Fresh Options Ideas:
DOOO Weekly $70-75 Calls
STX 10/14 $67-68 Calls

Extended Watchlist:
ATNF, ASTE, ADTX, KERN, BIAF, CLBS, EOSE, GEGI, BNOW