We’re going to start off the new trading week by identifying a couple of options ideas we’re seeing based on the chart setups of Under Armour Inc. (UAA) and CSX Corp (CSX).
In both cases, the stocks have been on a bit of a backslide, but went on to record bullish sessions on Friday. We’re going to look for confirmed reversals on both of these, and be ready with some options ideas if they can establish more sustained rebounds. On each chart, there are gaps to the upside, which is another thing we look for.
For Under Armour, which is giving off a strong multiple-bottom signal, we’re going to track the UAA 09/01 $17-19 Calls, and for CSX Railroads, we’ll want to look after the CSX 09/01 $51-53 Calls.
ImmunoGen Inc. IMGN
We also want to keep IMGN on our radars as we kick things off this week. We signaled it in Friday’s premarket report and it had a modest yet solid session on the heels of an earnings beat. We saw a low of 6.29, and this morning in early trading the stock has reached a high of 7.41. While that’s only an 18% rise at the moment, we’ll want to keep an eye peeled for another bullish session.
Extended Watchlist:
ACRX, CDRBQ, DVAX, NVIV, MYO, XXII, NXTD, CYTR,MNGG