Tag: ETRM

Blue Horseshoe Stocks: PRGO Recap & More


Perrigo Co. plc PRGO

We placed a number of options ideas on watch yesterday, and PRGO produced the biggest gainer of the day, even as the markets as a whole continued to be in distress.

Despite posting a loss, the company’s earnings beat expectations and after a huge gap-up to start the day, the stock traded with sufficient intraday volatility to provide a nice opportunity for single-session profits in the PRGO Weekly $75 Calls.

Those contracts traded in a range from a low of .15 up to an impressive high of 2.50, marking an enormous 1566% rip on the day.


Nvidia Corp. NVDA

We’re seeing NVIDIA taking a hit in the premarket this morning, even as it just received a price target upgrade from analysts on the heel of its own earnings report.

We see the possibility of a rebound for NVDA stock leading to some nice activity for the NVDA 09/01 $155 and $157.50’s Calls , so those are the contracts we’ll place on watch today.

Extended Watchlist:
TOPS, SHIP, DCIX GLBS, ANW, ETRM, DEWM

Blue Horseshoe Stocks: BBRY Recap & More

Cumulus Media, Inc. CMLS

We’re looking at CMLS as a possible momentum play. The stock has been building up quite a head of steam over the past few sessions, trading an inordinately high amount of volume yesterday.

Since hitting its lows toward the end of last month the stock has been in a general uptrend. Every time it has receded, it has rebounded back to set new highs. We’ll place CMLS on watch to see if it can maintain the powerful trend it has established.

CMLS is gapping up in the premarket this morning. On any pullbacks, we’ll want to see CMLS maintain support at a minimum of .50 in order to maintain our immediate interest.


BlackBerry Ltd. BBRY

Normally, when we alert on a big board play without including some type of options idea, as we did with BBRY back on March 31st (and April 12th), it’s because we feel the stock itself is generally undervalued. Where BlackBerry is concerned, we have thus far turned out to be right on the money. We saw a low of 7.47 on the morning of March 31st, and BBRY hasn’t looked back since.

In its largest single session move of the year, the stock hit 11.38 yesterday. That represents an increase of 52% over our observed low, as we’ve pointed out on the chart below. .

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FerroGlobe PLC (GSM) – Along the same lines, we highlighted GSM yesterday, a stock which is priced similarly to BBRY. It managed a slight increase after gapping up, and we’re going to continue watching this one as well.

Extended Watchlist:
PGPM, HMNY, ETRM, RGSE, PLX, BPMX, FRTA(Bottom watch)

Blue Horseshoe Stocks: SNDX Recap, Options & More

Syndax Pharmaceuticals, Inc. SNDX

Despite the markets getting crushed yesterday we managed to find and tag in our premarket report, what would ultimately be the NASDAQ’s top gainer of the day. SNDX had been gradually coming up off a bottom in the few sessions prior, but yesterday things really kicked into gear.

It traded in a range from 10.76 to 15.335, a fantastic intraday move of 43% which is really impressive for a $10+ stock. That move inside of the first 90 minutes of the session. That was followed by a dip-and-rip pattern from 12.16 and back to 13.62; a 12% rebound into a strong close at 13.58

The stock traded 56x its 30-day average volume yesterday, and held more than half of its daily advance, so we’ll be treating this as a potential momentum play as we head into week’s end, looking out for higher highs and higher lows out of SNDX.

Fresh Options Ideas

Speaking of the markets getting crushed, it appears as if we may see a continuation of that pattern today, so we want to have a few sets of options ideas to fall back on in the event of a continued slide.

Alibaba Group Holding Ltd. BABA – BABA had been on an incredible bullish run for the better of part of 2017 thus far as you can plainly see on the chart snapshot we’ve included here. You can also see that the strength index is sharply declining after having recently been indicating the stock was extremely overbought.  We can also see the MACD pinching toward a bearish cross.

That’s why, along with an earnings miss in the premarket and the overall current of the markets as a whole, we’re looking at the BABA Weekly $120-117 Puts for potential quick-strike swing trades.


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SPDR S&P 500 ETF Trust (SPY)  – Also in the vein of our general bearish view of today’s overall conditions, we want to line up a set of SPY Puts for observation. Our regular readers know that the SPY is one of our favorite market analogs, and has been a wellspring of gains for us on the options front when we correctly gauge investor sentiment.

Today we want to put the SPY Weekly $237-235 Puts on watch, as a sustained tumultuous period for stocks would likely produce some good chances for us there.

Extended Watchlist:
P, GLYC, CYTR, ETRM, XGTI, VSLR