Reviewing Yesterday’s Plays
We had a number of bearish options ideas that we listed in yesterday morning’s premarket report, and thanks to a lackluster performance for the markets at large, as well as ongoing concerns about the rapidly spreading coronavirus, we got some early returns off of those targets.
The gains are modest so far, but we’ll continue to track the lot of them as the week progresses.
DAL Weekly $57-56 Puts
$57: 1.20-1.90 (+58%)
$56.50: .96-1.56 (+62%)
$56: .78-1.18 (+51%)
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UAL Weekly $80-79 Puts
$80: 2.77-3.75 (+35%)
$79: 2.00-3.00 (+50%)
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SPY Weekly $325-322 Puts*
$325: 1.85-2.92 (+58%)
$322: .97-1.65 (+70%)
*There were a couple other SPY contracts within this range, that produced similar gains to those listed above.
Fresh Options Ideas
LMT Weekly $435-440 Calls
BIIB Weekly $282.50-285 Calls
PBF 06/19 $28-30 Calls