Blue Horseshoe Stocks: BP Options Review & More

BP plc (BP) – Options Review

Our fresh options idea from yesterday morning’s premarket report was was to track the BP Weekly $32-33.50 Calls for possible daytrade opportunities and we got just what we were looking for.

The strength of the company Q1 earnings report kicked the PPS up high enough to produce some solid moves out of each play in our highlighted range of contracts:

$32 Calls – Trading Range: 1.20-1.56 – Max Gain: 30%
$32.50 Calls – Trading Range:  .79-1.10 – Max Gain: 39%
$33 Calls– Trading Range:  .49-.73  – Max Gain: 49%
$33.50 Calls – Trading Range: .20-.39 – Max Gain: 95%

BP closed at its highs and traded even higher in the post-market, and we’re seeing a gap-up in the premarket this morning as well. We’ll look for a continuation of momentum into today’s session, wherein those options could be in line for further gains. In addition to watching those contracts, we may look to roll our strike price up in the event BP can surge past the $34-mark.


Sarepta Therapeutics, Inc. SRPT – Fresh Idea

SRPT caught our eye this morning as were searching for bottom-bounce candidates, as the stock fits the bill to a tee. After being beaten back to new 52-week lows this week, the stock posted a strong recovery session yesterday that has us thinking about potential options plays.

We’re going to monitor SRPT to see if it can test yesterday’s swing high of 11.50. We’re going to be tracking the activity in the SRPT Weekly $10.50 and $11 Calls.

Bonus Bottom-Watchlist:

That same search yielded a couple of other stocks trading at or near their own 52-week lows. We always like a good bounce-play and these are the types of stocks that most often produce them.

Active Power, Inc. ACPW took a pounding into heavily oversold territory yesterday after a sizable gap-down, so we’ll be watching that over the next few sessions for a possible snap-back.

First Acceptance,Inc FAC rebounded a little after setting a new annual low yesterday as well, so we’ll look for possible signs of a continued recovery there.


Extended Watchlist:
WRES, GEVO, UNXL, CRC, DWA(Buyout talks)

Blue Horseshoe Stocks: MAXD Recap, Cannabis Stocks & More

Max Sound Corp. MAXD
 
A huge standout from Thursday’s session was MAXD, which we tagged as a bottom-bouncer in our premarket report. The stock had been mostly trading sideways over the preceding couple of months, so our alert definitely came at the proper time.

From its daily low of .0033 right at the outset, the stock continually pushed the envelope for a vast majority of the session, eventually reaching the zenith at an impressive .007. That represented an intraday gain opportunity of up to 112% with heavy volume, on the order of more than three times the monthly average.

We’ll continue to track MAXD, looking for the stock continue building a higher base level of support in coming sessions.


United Cannabis Corp. CNAB

We’ve been monitoring the cannabis space more closely over the past couple of weeks, since a big development from the labs at GW Pharma (GWPH) sent shockwaves through the investment community and began to drive heavier interest back to marijuana related stocks.

We’re still seeing those effects reverberating down to several of these ‘pot-plays’. One that stood out to us on Thursday morning was CNAB, and it enjoyed a respectable intraday performance subsequent to our premarket flag. We observed a low of .51 first thing in the morning, and the stock took off like a rocket. The high it shot up to was .75, marking a 47% rip.

The stock maintained a good portion of its daily advance into a close at .673, and of course volume was much higher than normal, so this is another that we’ll keep on our watchlist for the time being.

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Cannabis Sativa, Inc. CBDS

Another run of success we’ve had recently within the cannabis sector has been due to our call of CBDS. We first introduced this stock to our reports in early February, and would monitor the stock as it found support at .30 several sessions later. From there it began a gradual rise that became much more pronounced midway through this month.

The gains on the chart since then have been absolutely stellar, and CBDS hasn’t looked back, as it recorded a new high of 3.73 on Thursday. That brought the overall upswing we’ve witnessed in just a month’s time to a meteoric 1143%
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ADDED NOTE:

Another handful of marijuana stocks we’ve tracked over a long period of time are HEMP, TRTC, and GRNH, and those will continue to garner our attention in the immediate future, with interest in the sector bubbling up once again.


Extended Watchlist:
ACAD, ALDR, GBSN, GEVO, MINE, TLSA, WRES

Blue Horseshoe Stocks: SDOC Recap & More


SandRidge Energy, Inc. SDOC

Our mention of SDOC in Friday’s premarket report turned out to very well-timed. We’ve had the stock on our radars since early this year, and  pushed it to the back burner for awhile, having so many other items of interest on the table.

We circled back around to it on Friday, just in time to catch a solid single session performance as the stock ran from a low of a nickel up to .0674; that works out to a 35% intraday increase on fairly heavy volume.

We’ll continue to keep an eye on SDOC, which appears to be ready to gap-up slightly today, for a breach of the 50DMA at .08.


Celldex Therapeutics, Inc. CLDX

We’re going to tag CLDX this morning as a bottom-watch play with serious rebound potential. Our bottom-feeder alerts are sounding loudly as we’re seeing the stock take an absolute nosedive on news of the cancellation of the company’s late-stage brain tumor vaccine study.

We’re always on the lookout for knee-jerk selloffs (which often transition into recovery plays), and CLDX has lost roughly half its value solely on the perceived effect of the announcement.

It’s worth it to mention that the company still has seven clinical trials underway on other products, so the discontinued project is by no means the only thing in the company’s pipeline.

We’ll be interested to track the action in CLDX in coming sessions as investors adjust to this morning’s events.


Extended Watchlist:
DCLT, PVAH, GDPM, WRES, LNCO, BBEP, CLF, KEG