Extreme Trade Updates (12/3/18)
December 3, 2018The following trades remain on hold:
Best Buy (BBY) — $63.75
BBY January 2019 65 calls — $2.90
We recommended both BBY positions on November 26, 2018. At the moment, the BBY stock trades at $66.40. The calls now trade at $4.20. Consider selling to close half of the calls to secure the win.
Target (TGT) — $68.50
TGT January 2019 70 calls — $2.75
The stock now trades at $70.83. Both positions remain on hold at this time.
Activision Blizzard (ATVI)– $50.55
ATVI January 2019 52.50 calls — $2.35
While the stock did pull back to $47.44 in recent days, we continue to hold. It’s still aggressively oversold at this time.
Roku Inc. (ROKU)– $43.65
ROKU January 2019 45 calls — $3.65
ROKU is beginning to rebound nicely, last trading at $41.20. Continue holding both positions. These were opened on November 19, 2018.
Square Inc. (SQ) — $64.65
SQ January 2019 70 calls — $4.05
Square is quickly rebounding, last trading at $71.44. Hold the stock. The calls now trade at $5.95. Consider selling to close half of the calls to secure a win. Hold the second half.
Viking Therapeutics (VKTX) — $11.65
This stock was recommended on November 12, 2018 and remains a long-term hold. It last traded at $10.85.
Johnson & Johnson (JNJ) December 2018 145 put — $2.85
We recommended this trade on November 12, 2018, as well. After pulling back to $140 in recent weeks, it did rebound back to $145.70. However, we continue to hold on overbought conditions.
MedMen Enterprises (MMNFF) — $4.25
We recommended MMNFF at $4.25 as we near Canadian legalization. After testing $5.72, it has since pulled back to $3.35. Continue holding with a long-term target of $10.
Adobe Systems (ADBE) — $248.96
The stock now sits at $253.25 and remains a hold. We have a near-term price target of $280.
Raytheon (RTN) — $187.12
RTN is now trading at $172.68. Hold the stock with a near-term price target of $210.
Twitter (TWTR) — $32.68
Hold the stock. It’s aggressively oversold at a current price of $33.66.
Barrick Gold (NYSE:ABX) — $10.25
ABX January 18, 2019 10 calls — $1.01
As gold begins to rebound higher, related stocks are beginning to push higher. We have a near-term price target of $14 on ABX. It last traded at $12.86. The calls now trade at $2.83. Consider selling to close half of the trade to secure a big win. Hold the second half a bit longer.
Micron Technology (NYSE:MU) — $49.85
The stock pulled back in recent days on a tech sell off to $39.28. Hold. MU has become aggressively oversold.
Goldcorp Inc. (NYSE:GG) — $10.84
GG January 18, 2019 11 calls — 78 cents
The stock is down slightly at $9.30. We continue to hold on oversold conditions. We have a $15 price target.
OrganiGram Holdings (OTC:OGRMF) — $4.98
As the marijuana story heats up on corporate interest and Canadian legalization, stocks such as OGRMF should continue to push higher. It last traded at $4.25.
Newell Brands (NYSE:NWL) — $21.55
NWL December 21, 2018 22 calls — $1.58
NWL is now up to $24.20. Consider selling the stock to secure the win. The calls are now up to $2.35. Sell to close the calls to secure the win, as well.
Kroger Company (KR) — $29.65
KR is still oversold, now trading at $29.55. It’s a hold at the moment.
ACADIA Pharmaceuticals (ACAD) — $20.02.
ACAD now sits at $19.50. While it’s a bit overbought here, we are holding long-term.
Zayo Group (ZAYO) — $34.85
ZAYO now sits at $26.64. As we near the 5G boom effect, we’d like to see ZAYO refill its bearish gap at $38 a share. Hold.