Extreme Trade Updates (6/25/18)
June 25, 2018The following trades remain on hold:
Applied Materials (AMAT) stock — $49.90
AMAT July 20, 2018 50 calls — $2.50 — exited half
We already exited half of the AMAT July 20, 2018 50 calls. We still hold the second half and the stock, which last traded at $48 a share.
Canopy Growth (CGC) — formerly TWMJF — $29.75
Canopy Growth was just added to the NYSE. The stock is now up to $32.77 and remains on hold.
Campbell Soup Company (CPB) stock — $34.20
CPB August 17, 2018 34 calls — $1.80 — exited half
We still hold the second half of the calls and the stock, which last traded at $38.60. The calls now trade at $4.90. Hold.
Activision Blizzard (ATVI) at $66.25 — exited half
ATVI August 17, 2018 77.50 calls — $2.36 — exited half
We still hold the second half of the ATVI, which is now up to $76. We also still hold the second half of the ATVI August 2018 77.50 calls, which last traded at $3.15.
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 $85.15 a share.
WTW stock at $67.66 — exited half
We hold the second half of the WTW stock, which last traded at $100.60.
TWTR stock at $31.67 — exiting half
We exited half of the TWTR stock for win. Hold the second half, which now trades at $45.90.
Bristol Myers Squibb (BMY) stock — $51.25
We still hold the BMY stock, which last traded at $55.15.
Square Inc. (SQ) stock — $63.90
SQ August 17, 2018 65 calls — $4.45
SQ August 17, 2018 70 calls — $2.75
We recommended these SQ trades a week ago. All remain on hold at this point. The stock last traded at $65.75.
Roku Inc. (ROKU) stock — $43.50
ROKU August 17, 2018 44 calls — $5.40
ROKU is still one of the hottest stocks on the market at the moment. We’d like to see a bearish gap refill at $50, near-term. It last traded at $44.75.
Canopy Growth (CGC) stock — $29.66
Talk of legalizing marijuana across the U.S. has been growing like a weed. And as controversial as it may be, it’s also one of the most explosive opportunities we’ve seen. In fact, with recent legalization, marijuana could very well be a $30 billion market in four years. It’s only a $6.7 billion industry right now, up 30% from 2015. Right now, 29 states and the District of Columbia have legalized marijuana for medical purposes. As for its recreational approval, California just became the eighth state to make it legal. Again, controversial or not, you can’t ignore the numbers.
CGC is one of the hottest stocks in this sector. We’d like to see a test of $40, near-term. It last traded at $32.77.