SPY Calls Roll:
Up until yesterday morning, it had actually been quite some time since we had last formulated a daily trading idea for the SPY, which historically has been one of our most common targets. Despite an up-and-down session for the markets, we did observe some very nice gain opportunities in our targeted contracts.
We were looking at the SPY 09/13 $446-448 Calls due to a relative dry spell of earnings reporters that will persist for the next several weeks. It turned out to be a solid choice, with our designated range yielding three out of three multi-baggers, including two sets that ran well over a thousand percent!
Here are the total moves and possible profits provided by our selections on the day:
SPY 09/13 $446-448 Calls*
$446: .05-.99 (+1880%)
$447: .01-.16 (+1500%)
$448: .17-.44 (+159%)
We’ll stick with the same SPY targets but for tomorrow’s expiration, following better than expected Consumer Price Index (CPI) figures dropped this morning.
Fresh Options Ideas:
SPY 09/15 $446-448 Calls
ORCL Weekly $87-85.50 Puts
B 10/15 $35-45 Calls
DSGT, HRAA, UPIN, INCC, IGEN, BSTK, LIFE, NNVC, JCS
Cracker Barrel Old Country Store, Inc. CBRL – Recap:
This morning we’re updating readers on the fresh options idea from yesterday. Just to give a heads up, this idea appeared in our report yesterday as Weekly calls, which was in error. The next expiration date on any existing CBRL options is June 18th, so we’re talking about the CBRL 06/18 $155-165 Calls.
Those fared quite well on the day despite three weeks remaining until their expiry. Here are the intraday gains they recorded:
CBRL 06/18 $155-165 Calls
$155: 4.40-6.68 (+52%)
$160: 2.45-4.40 (+80%)
$165: 1.25-2.40 (+92%)
Based on premarket activity this morning, it appears as if CBRL may be preparing to gap up, and as a result we may see further advances in these contract sets. We’re going to want to continue to monitor their activity into June 18th.
Fresh Options Ideas:
Despite a general decrease in the number of daily earnings reporters, we’ve got a fair few retail giants dropping figures this morning, and we’ll venture a target for the SPY as well.
URBN Weekly $37-39 Calls
ANF Weekly $39-40.50 Calls
DKS Weekly $88-91 Calls
SPY 05/26 $418-420 Calls
AAPT, SBFM, UPIN, BRYYF, GEGP, CYBL, MNGG, MDCN, XREG