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Weekly Position Updates / Extreme Trade Updates (12/3/18)

Extreme Trade Updates (12/3/18)

December 3, 2018

The 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.