It has been a stellar week for options trading, despite the markets having their hiccups. Yesterday was another mixed bag in terms of the overall sentiment, but both of the quick strike options plays we were tracking in our premarket report produced immediate results for us. The volatility afforded by recent market conditions has been a real plus for daytraders.
Our designated targets for yesterday’s session were the SPY 05/13 $392-389 Puts, and the DIS Weekly $101-98 Puts, and there were multi-bag intraday opportunities across the board in both ranges. Below, we’re going to flip our stance on the SPY as well, something we’ve done successfully many times in recent sessions, so be sure to read on past yesterday’s performance figures to find those fresh targets.
SPY 05/13 $392-389 Puts
$392: 2.40-8.02 (+197%)
$391: 2.02-7.30 (+262%)
$390: 1.74-6.60 (+279%)
$389: 1.47-5.90 (+301%)
DIS Weekly $101-98 Puts
$101: .36-.95 (+164%)
$100: .23-.66 (+187%)
$99: .16-.43 (+169%)
$98: .11-27 (+145%)
Fresh Options Ideas:
SPY 05/13 $395-398 Calls*
AFRM Weekly $23.50-25 Calls*
SBUX Weekly $70-72.50 Calls*
**Please don’t try to trade options on their day of expiration unless you are well-versed in options trading!
MULN, OTRA, ALNA, CALA, PTE, HOOD, MYSZ, SYSX, IGEX, TGGI, ENZC, DMAN, NSAV, SFOR
HAPPY HOLIDAYS, ONE AND ALL!
We want to start things off this short trading week, by wishing everyone a happy holiday season, no matter how you celebrate!
This is traditionally a very low-key week for the markets, as most people are focused on enjoying their families or time off from work at this time. Especially with no major earnings reporters on the calendar, we expect a relatively subdued start to the week as well.
General Mills, Inc. GIS
One thing we do want to do is circle back to the call we made for the GIS options chain on Wednesday, which made a pretty good move into the end of the week, and will be high on our watchlist , as further gains are very possible.
We had highlighted the GIS 01/17 $55 Calls, and they subsequently made a very impressive move from .10-.29, marking a rise of 190% We will continue to keep an eye on this play, as GIS attempts to break the double top around the $54 mark. A break of that area will send these gains soaring.
Fresh Options Ideas:
Finally, it wouldn’t feel like the start of a fresh trading week without some fresh options speculation.
We’re going to radar the SPG 01/17 $145-150 Calls as the chart is in a prime bottom-bounce setup. We took it out to the January 17th’s to give ourselves ample time to witness what appears to be an impending rebound.
SDRL, ACHV, ONCY, CALA, YAYO, CPRX, FBIO, ITCI, LLEX
Updates From Last Week
Interpace Diagnostics Group, Inc. IDXG – We outlined IDXG in Thursday morning’s report, and after witnessing a low of .3619 followed by an excellent 232% pop to 1.20 on that first day, we were optimistic about our chances for seeing more new highs on Friday.
They did come, early on in the session as IDXG ripped to a new high of 1.98, bringing our two-day total observed gain on the stock to a walloping 447%
MJP International Ltd. MJPI
After initially alerting this stock on Wednesday at a low of .85, MJPI is another multi-dayrunner that we were tracking into the latter half of last week that ended up setting new highs on Friday.
The stock traded in a range from 1.38 and went as high as 2.02; a 46% intraday push. The new top mark, from our observed low of .85, represented an overall increase of 138% in a span of just three sessions.
Ophthotech Corp. OPHT
OPHT is setting off our bottom alarms in a big way this morning. The stock is getting absolutely massacred in the premarket in the wake of a poor clinical data release today. The stock is falling to record lows, which is always something that causes us to take note.
Whenever a knee-jerk reaction to any news sends a stock barreling down to its lowest prices ever, you can be all but certain that at some point in the near future, there’s going to be a substantial rebound. With that comes bounceplay opportunities- a chance to properly time the eventual recovery for what could be significant gains. That’s why we’re placing OPHT on intensive bottom watch in coming sessions.
SYRX, MEMP, CALA, NDEV, BTDG, TTCM