BG | Blue Horseshoe Stocks

Blue Horseshoe Stocks: ETSY Recap, New Ideas

Etsy, Inc. ETSY – Update

Yesterday morning, we floated a couple of fresh options ideas, as we have become accustomed to doing, and ETSY was one of those ideas. We signaled our interest in the ETSY 03/15 $60-65 Calls, and while they didn’t exactly set the world on fire, we did see some very nice first-day gain opportunities from that idea.

The $60 Calls traded in a range from 6.39-10.20 on the day, marking a move of 60% The $65’s fared marginally better, putting up a run from 3.49 to 6.42, which marked a rise of 84% Those were some modest, yet very respectable single-session rips, and with nearly three weeks remaining before they expire, we’ll go ahead and keep these plays on our radar going forward.

Fresh Options Ideas:
Weight Watchers Intl. Inc. WTW Weekly $23-20 Puts
GW Pharma plc GWPH 03/15 $165-175 Calls
Lowes Companies, Inc. LOW Weekly $108-110 Calls

Extended Watchlist:
SMLP, PLNT, MED, BG(Bottom Watch)

Blue Horseshoe Stocks: Bottom Watch Plays

Activision Blizzard, Inc. ATVI

Despite beating on earnings in its postmarket release yesterday afternoon, ATVI reported fewer monthly active subscribers, and the stock has taken a gut punch as a result, falling to new annual lows in the mid-$50’s. The stock hasn’t seen a PPS this low since last December, and it went on to have a post-holiday run into March of this year, and yet another in the spring.

While we don’t expect an exact repeat of history, at present the stock is highly oversold, and we want to set up a longer-term recovery play to place on watch today and monitor going forward. We’ll be looking at the ATVI 01/18 $55-62.50 Calls for this purpose.

Bunge Ltd. BG

We’ve also taken notice of an interesting setup on BG, which has been recently trading at a double bottom, and whose CEO just picked up nearly a hundred million dollars worth of the stock here at these lows. He was also joined by another insider which submitted a pair of Form-4’s for the purchase of roughly $40M.

That’s an incredibly large bet on the part of the company’s leader, far out of the realm of simply trying to prop up his company’s stock. To invest that kind of money, would seem to imply a firm inside belief that BG won’t go much lower than what we’ve seen in the past week or so. We’ll place this stock on a Form-4 Bottom Watch moving forward, and monitor for the possibility of a nice rebound.

Extended Watchlist:
APRN, PRTY, GSL, REV,

Blue Horseshoe Stocks: Options Update, GALT Recap & More

Whole Foods Market, Inc. WFM – Options Update

We just wanted to circle back for our WFM options idea that we submitted last week. We designated contracts with a 02/17 expiration instead of weeklies to give our idea time to develop and it ended up being a good call. Our targets were the WFM 02/17 $30 and 30.50 Calls.

Yesterday WFM had a morning pullback which was followed by a nice reversal, and the stock ended up bulling its way into the close near its high of day. The calls we signaled last week had a significant move as a result. The $30 Calls ran from .14-.52 (+271%), while the $30.50’s exploded from .05-.21 (+320%). We are going to want to keep them on our radar for the rest of the week into expiration.

Key resistance is at the 200DMA and 50DMA of 30.38 and 30.76, respectively. If WFM can crack the latter, we may look to roll our strike price up and push out another week to contracts expiring next Friday- particularly, the WFM 02/24 $31 Calls.

Galectin Therapeutics, Inc. GALT

We’ve now witnessed quite a run from GALT over the past few weeks, validating our previous reports on the stock wherein we contested that a serious run-up appeared likely.

It began with our report on 01/12, in which we noted GALT’s ripening chart, and surmised that forthcoming gains of 100% were not out of the question. We observed a low of .935 subsequent to that followed by a nice 38% push to 1.29 leading into our most recent report on GALT last Friday.

In that report we had this to say “We feel these gains are sustainable if GALT can manage to crack past the current 200DMA at 1.32. As you can see on the included snapshot, the chart continues to bear the look of potential for even further increases“.

Yesterday GALT met those expectations nicely with a run to a new high of 1.85, which marks an overall increase from our observed low of 98%, falling just a hair shy of our initial speculations. Yet, our prediction seems to be coming full circle this morning as the stock is gearing up to fill its gap on the chart that we pointed out in our initial report. One more bullish push will get us into double-bagger territory for this idea, and the stock may well make a run well into the 2.00-range.

Green EnviroTech Holdings Corp. GETH – Recap

We were quite pleased with the performance of GETH following our featured report yesterday morning, as the stock provided traders with a pair of solid intraday swings amid an onslaught of volume.

Right from the opening bell, GETH shot up from .165 to the high of day at .235, marking an initial rip of 42% The stock subsequently pulled back to a daily low at .1514, before surging up once more to .215, matching the morning’s 42% gain exactly.

All of this useful volatility was accompanied by massive volume on the order of 39X the monthly average, or 19X the 3-month average. It represented an all-time record high for shares of GETH traded in a single session!

Yesterday we had identified .15 as the key support level that needed to hold in order to make GETH interesting, and our sentiments in that regard haven’t changed.

Extended Watchlist:
ONOV, GAHC, NNSR, BG, WIX, GRPN, EVOK,