Our first experiences with CYBR were good ones, when we successfully called a couple of potentially lucrative options trades around the middle of last month. It was in our report from February 13ththat we targeted CYBR $50 and $55 Calls, and that day we saw moves in those contracts of 72% and 165% respectively.
Our current options idea is going to be the 04/17 $50 Calls (Closed at 6.60 yesterday). Should CYBR reach its way back to the $60-level anytime in the next few weeks, the gains we see in those contracts will be quite substantial.
Molycorp, Inc. MCP
MCP appeared in yesterday’s extended watchlist and demonstrated a reversal of its own. We’re going to place MCP on more intensive watch as the week progresses, as it has the markings of a potential bottom play.
We’ve illustrated some of the key characteristics of the chart below, which appears to be gearing up for what could be a big swing. The stock ran well over a dollar at the beginning of last month, so the potential for rapid gains has certainly been demonstrated.
MEI Pharma, Inc. MEIP
We’ve also got an eye on MEIP after the stock was crushed down to a 52-week low yesterday, following the company’s announcement of the failure of its cancer drug in middle-stage testing.
A single-session depreciation on the order of 70% is the hallmark of one heck of a knee-jerk reaction, and the stock appears to be gapping up slightly this morning, so we’ll be on the lookout for a recovery in MEIP shares in coming days.
Extended Watchlist:
IMGN, ATOS ISR, HEB, GEVO, NEPT