Extreme Trade Updates (5/30/18)
May 30, 2018The following trades remain on hold:
Applied Materials (AMAT) stock — $49.90
AMAT July 20, 2018 50 calls — $2.50
The underlying stock is now up to $52 and remains on hold with a price target of $55. The calls last traded at $3.65. Hold.
Canopy Growth (CGC) — formerly TWMJF — $29.75
Canopy Growth was just added to the NYSE. While it slipped shortly after the add, we’re holding with a price target of $35, near-term.
Campbell Soup Company (CPB) stock — $34.20
CPB August 17, 2018 34 calls — $1.80
CPB is still one of the most hated stocks on the Street following poor earnings.
The company has struggled lately, most recently with a sharp decline after cutting its full-year guidance. It even fired its CEO after its stock price plummeted. But with a new CEO transition plan in place, there are hopes things can turnaround here. Plus, with the stock as hated as it is right now, it’s the perfect time to buy with the stock now at bargain basement prices. Plus, we believe a lot of the bad news has been priced into the stock, which now sits at a 52-week low. Investors are slowly buying again on hopes the recent bearish gap can be filled at $40. In addition, CPB is no stranger to tough times. But each time the stock gaps down, that gap gets filled not long after. While this trade does carry higher risk, we believe it’s worth buying at a 52-week low.
It last traded at $34.40 a share. 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 $70.83 Continue holding the stock.
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 $82.
WTW stock at $67.66 — exited half
We hold the second half of the WTW stock, which last traded at $78,46. We exited the first half last week, along with the WTW July 2018 70 calls.
TWTR stock at $31.67
TWTR June 15, 2018 32 calls at $2.93
The TWTR stock last traded at $34.40 and remains a long-term hold at this point from oversold conditions. Look to take wins shortly.
AMGN June 15, 2018 175 calls — $5.70
AMGN now trades at $181.50 a share. We now have a price target of $190 on the stock. The calls last traded at $7.90. Hold.
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 $121.40.
Bristol Myers Squibb (BMY) stock — $51.25
BMY June 15, 2018 52.50 calls – $1.80
BMY last traded at $53.20. Hold the stock and the calls at this time.