Tag: HEAR

Blue Horseshoe Stocks: Options Updates

MGM Resorts International Inc. MGM

On Monday morning, we issued a Form-4 alert on MGM after witnessing more than $75M in insider buying at a bottom pour in over the course of the previous three sessions.

We can usually have a fairly high rate of confidence that a stock in this situation will produce a rebound, and so far that’s just what we’ve seen. We signaled the MGM 08/16 $28-30 Calls for tracking, and so far, we’ve seen some pretty nice moves.

$28 Calls – Range: 1.09-1.80 – Max Gain: 65%
$29 Calls – Range: .96-1.32 – Max Gain: 38%
$30 Calls – Range: .68-.95 – Max Gain: 40%

There is plenty of time to continue to look after this idea, which could certainly produce further gains from this point forward.
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Turtle Beach Corp. HEAR

We also added a pair of options contracts to watch in the HEAR chain last Thursday, and while we also have plenty of time to realize added gains in this case as well, the early performance out of these has been noteworthy, especially the $15’s which have already recorded a multi-bag move.

HEAR 10/18 $12.50-15 Calls.
$12.50 Calls – Range: .60-.90 – Max Gain: 50%
$15 Calls – Range: .20-.50 – Max Gain: 150%
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FRESH OPTIONS IDEA: 
Dave & Busters Entertainment Inc. PLAY  07/26 $40-45 Calls 

Ocular Therapeutix, Inc. OCUL – Recap

We also wanted to quickly mention the performance of OCUL since we alerted on the stock last month. It has produced quite a dip and rip since that time, touching a low of 2.38 before running as high as 4.08. That marks a total possible gain of 71% in a span of just over three weeks.


Extended Watchlist:
NETS, TBLT, JILL, HSGX, FBIO, RIOT, INSY(Bottom-bouncer)

Blue Horseshoe Stocks: New Options Plays & More

Turtle Beach Corp. HEAR

This morning to kick things off, we are going to take a look at HEAR, which has gained a bit of momentum over the past couple of sessions after bouncing off a bottom earlier this week. ‘

Technically speaking, the chart has everything we typically look for- a bullish cross of the MACD recently came to pass and we are now seeing clear upward divergence there, and the RSI just cracked the 50-line, indicating that it too is going bullish.

Couple those factors with the convincing surge off of the stock recent relative lows, and we are set up for a possible continuation of momentum, for which we want to be ready with an options idea. We’ll be tracking the HEAR Weekly 10/18 $12.50-15 Calls.

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More Options Ideas

SPDR S&P500 ETF (SPY) Weekly $283-284 Calls
Stitch Fix, Inc. SFIX Weekly $31-30 Puts

Galectin Therapeutics, Inc. GALT – Form-4 Alert

We also want to make mention of GALT, which has been trading sideways near its 6-month lows recently. During this period, we’ve noticed a nearly $20M buy from a GALT insider at these lows.

When this happens we usually like to place a stock on bottom-bounce watch, as it generally tends to suggest that the company director has reason to believe that the stock has reached as low as it’s going to go for the time being.

Extended Watchlist:
AMPG, BOX, TWI, CIEN, ONVO, HIIQ, PBYI, WMGR

Blue Horseshoe Stocks: Form-4 Alert & More

Options Updates 

We offered up a couple of fresh options ideas in yesterday morning’s report, GIS Weekly $37.50 Calls, and the MU Weekly $31-32 Calls. Despite the markets taking yet another hit in the wake of the Fed’s interest rate hike, both of those ideas managed to produce some positive intraday movement prior to the announcement.

The GIS $37.50’s traded up from 1.31 to 1.80, for a modest 37% rise, but the MU calls did considerably better, logging multi-bag gain opportunities:

MU Weekly $31-32 Calls
$31 Puts – Range: 1.03-2.47 – Max Gain: 140%
$31.50 Puts – Range: .70-2.21 – Max Gain: 216%
$32 Puts – Range: .46-1.83 – Max Gain: 298%

Axovant Sciences Ltd. AXON – Form-4 Alert

We routinely keep an eye out for brow-raising insider trading activity, and have run across AXON today. A trio of stakeholders filed Form-4’s on Tuesday alluding to the purchase of a total of $30M in AXON stock in three $10M transactions, at the current relative lows near a dollar. That amounts to over a quarter of the company’s total market value.

To us, this would seem a fairly big indicator that these institutional investors are very confident that the stock will not fall below these levels. We’ll go ahead and place AXON on an extended term bottom-watch into the New Year.

Extended Watchlist:
OHGI, OPTT, YRIV, GMO, PTX, GERN, SBS, NXTD, MARK, HEAR