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New Highs to Report

More New Highs for Biotechs

Essentially every play we’ve been tracking that is in any way related to medical/biotech have been setting new highs as fast as we can update them. The coronavirus hysteria, along with an underlying need for a market correction is producing some incredible effects. Here are the new highs on such stocks on our watchlist.

Co-Diagnostic Inc. CODX – As we were mentioning yesterday, we’ve been on the trail of CODX since the end of last month, at which time we observed a low of 1.52. Yesterday, just as we cautioned it would, the stock reached as high as 19.67. That extends our observed range on this play to 1194%
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Vaxart Inc. VXRT – Another coronavirus play we’ve been watching has been VXRT, beginning on January 31st at a low of .956, and there is an impressive new high to report here as well,. The stock hit 3.40 yesterday, which brings our total possible gains on VXRT to 256%
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iBio, Inc. IBIO – Lastly, is a stock we placed on watch just a shade under three months ago, in IBIO. Subsequent to our tag on 12/05, we observed a low of .189 in IBIO, which has given way to a new high of .887 this week as viral virus fears continue to sweep the investment community. That represents a gain of 369%

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Fresh Options Ideas:
SPY 03/13 $298-301 Calls

Panic Buying/Selling Goes Viral

Co-Diagnostic Inc. CODX – Review

The last time we mentioned CODX in one of our reports was toward the end of last month, and at the time the coronavirus was not inspiring as much fear as it is presently, but the stock had still already begun to trade high volume and edge upward.

Now, with the CDC warning of a potential pandemic, even as some public officials attempt to downplay the significance, fear-buying has driven up stocks like CODX, which happened to be the #2 gainer on the NASDAQ yesterday. It enabled new highs for us, and we’ve now seen CODX run from a low of 1.52 up to 10.89 in just over a month’s time! That’s a fantastic increase of 616%

The stock has broken $14 in the premarket, so our observed range stands to increase significantly today.

Vaxart Inc. VXRT

Speaking of coronavirus plays, we signaled VXRT on January 31st and promptly provided an update this month on the 4th, and it too has enjoyed a fear-powered run up the chart.

Our initially observed low on this play was .956, and as of yesterday’s new high of 1.91 that works out to an upswing of 99% With the stock on the verge of hurtling upward into blue skies, (over $2 in the premarket) we’re going to want to continue to keep an eye peeled for further activity.

Fresh Options Ideas:
SQ Weekly $78-80.50 Calls
MAR Weekly $120-117 Puts

Extended Watchlist:
PXYN, MRNA, TNXP, INO, LMPX, SIX,

Blue Horseshoe Stocks: Options Roundup & More

OPTIONS ROUNDUP

One of our top activities each day is poring over the previous day’s post-market quarterly earnings reports, as well as the premarket releases from that morning, in order to find those stock most likely to produce the type of volatility we look for to make quick-strike trades.

The earnings calendar is rather busy at present, with three names jumping to the forefront on our scanner today. We’ll give a brief overview of their quarterly highlights, as well as ranges of contracts to place on watch for the remainder of the week.

International Business Machines Corp. IBM
-Beat on profit, strong outlook
Radar: Weekly $130-134 Calls

United Technologies Corp. UTX
-Earnings and revs beat, more than 70% increase in Q4 profit
Radar: Weekly $113-118 Calls

The Procter & Gamble Co. PG
-Strong sales, earnings beat, boosted guidance
Radar: Weekly $93-95.50 Calls

Extended Watchlist:
CODX, SYF, EARS, QSR, BPTH, PUMP, IDEX

Blue Horseshoe Stocks: HEAR Review & More

Turtle Beach Corp. HEAR – Review

Our primary focus has always been to find near-term trading opportunities first, assigning longer-term calls a secondary priority. However, we’ve had quite a bit of good fortune this year in identifying stocks that have gone on to have considerable extended runs.

HEAR is one such stock, that we first signaled for observation on April 9th, at which time the stock was trading for as little as 2.76. Over the ensuing nine weeks, we have seen an incredible, near-continuous bull run that has resulted in new highs of 23.20 yesterday. That works out to an increase of 740% over a span of a little over two months!

Being in blue skies, there’s no telling what new highs we might see in HEAR; it’s certainly plausible to believe we may see our total observed gain reach a thousand percent at some point in the near future. At the rate things have been going, it’s certainly not an unreasonable thought.

H&R Block, Inc. HRB – Fresh Idea

We also want to provide a quick update on our bearish options idea from yesterday’s premarket report, the HRB Weekly $26-24 Puts. We formulated this range after noticing the stock getting kicked hard despite posting an earnings beat in the post-market on Tuesday.

HRB did gap down a little too far for the $26’s to see much action, but we had respectable chances to profit off of the other two contracts in the range. The $25 Puts ran from .65-1.05 for a gain of 62%, while the $24’s put up a double-bag performance with a 133% rip from .15-.35.

Galectin Therapeutics, Inc. GALT

We tagged GALT on Tuesday morning after noticing a big surge in activity, and its run has continued nicely over the course of the week.

We’ve now observed a solid 37% bullish move from 5.83-8.00, and will be on the lookout for the possibility of more new highs.

Extended Watchlist:
ENPH, CTRV, CODX, FCEL, ETSY, ONTX, MYSZ

Blue Horseshoe Stocks: JACK Update & More

Jack in the Box, Inc. JACK – Update

As a fresh options trading idea on Friday morning, we submitted the Jack 07/20 $80-90 Calls for observation after noticing the company’s solid earnings report and premarket gap-up. Although we passed over the weeklies for the July 20th calls for a bit more of an extended idea, it took no time at all for those contracts to see significant appreciation.

We’re pleased to say that each of the three selected targets produced respectable single-session moves, and will remain on our radar moving forward. Those potential gains were as follows: ,

$80 Calls – Range: 3.70-5.78 – Max Gain: 56%
$85 Calls – Range: 1.42-2.58 – Max Gain: 82%
$90 Calls – Range: .50-.80 – Max Gain: 60%

aTyr Pharma, Inc. LIFE

We noticed that LIFE woke from a slumber late last week, and began to trend off of its annual lows. We’re going to put it on the radar as a potential recovery play. As you can see, the stock was ridiculously oversold heading into last week, following a massive beating from roughly a month ago.

We believe there is a fair chance that the stock could return to the levels from prior to that backslide, which would spell significant gains from the current PPS.

Extended Watchlist:
AQMS, SRE, SNES, CODX, GNW, BIOC, TEUM, PTC