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Weekly Position Updates / Extreme Trade Updates (5/10/18)

Extreme Trade Updates (5/10/18)

May 10, 2018

The following trades remain on hold:

Activision Blizzard (ATVI) at $66.25

We recently took a win on the ATVI calls and still hold the ATVI stock, which last traded at $71.31.  Continue holding the stock.  We may look to pick up more calls shortly.

PayPal Holdings (PYPL) at $75.90

We already exited the PYPL May 2017 75 calls for solid wins.  Let’s continue to hold the underlying stock, which last traded at $77.01,

TWLO stock, which opened at $41.41 — exiting half
TWLO July 20, 2018 42 calls, which opened at $3.80 — exiting half

TWLO exploded on Wednesday by $8.06 a share after crushing its own first quarter earnings targets.  Let’s exit half of the TWLO stock, which last traded at $52.41.  Let’s also exit just half of the TWLO July 20, 2018 42 calls, which last traded at $11.40.

WTW stock, which opened at $67.66
WTW July 20, 2018 70 calls, which opened at $6.50 — exited half

WTW is also pushing higher, last trading at $68.87.  We have a near-term price target of $75.  Sit tight.

TWTR stock, which opened at $31.67
TWTR June 15, 2018 32 calls, which opened at $2.93

The TWTR stock last traded at $32.60 and remains a long-term hold at this point from oversold conditions.

AMGN June 15, 2018 175 calls — $5.70

AMGN took a hit, falling to $169.64.  It’s still aggressively oversold at this point.  Hold with a price target of $177.

JNJ June 15, 2018 125 calls — $4.55

JNJ is also still aggressively oversold at this point. We’re holding with a target price of $129.  It last traded at $123.51.

Bristol Myers Squibb (BMY) stock — $51.25
BMY May 18, 2018 52 calls – 85 cents
BMY June 15, 2018 52.50 calls – $1.80

So far, so good with BMY.  After a nasty sell off from $65 to less than $52, the stock is finally beginning to rebound from its lows.  We have a near-term price target of $55.  We’re also looking for a bearish gap refill at $65, longer-term.