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Weekly Position Updates / Extreme Trade Updates (6/6/18) — Includes Big Wins and New Trades

Extreme Trade Updates (6/6/18) — Includes Big Wins and New Trades

June 6, 2018

The following trades remain on hold:

Applied Materials (AMAT) stock — $49.90
AMAT July 20, 2018 50 calls — $2.50

We’ve had a good run with AMAT so far but it’s time to take some wins here.  The calls now trade at $3.60. Sell to close half of just the call option here to secure a win.

Canopy Growth (CGC) — formerly TWMJF — $29.75

Canopy Growth was just added to the NYSE.  The stock is now up to $30.90 and remains on hold.

Campbell Soup Company (CPB) stock — $34.20
CPB August 17, 2018 34 calls — $1.80

While the stock did pull back a bit more to $32.85, we’re still holding on overbought conditions.

Activision Blizzard (ATVI) at $66.25

ATVI last traded at $74.95.  Continue holding the stock.  We also don’t believe the stock is finished running higher.  Let’s buy to open the ATVI August 17, 2018 77.50 calls, which last traded at $2.36.  We’d like to see a double on the calls.

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 $85.16.

WTW stock at $67.66 — exited half

We hold the second half of the WTW stock, which last traded at $86.80.  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 — exiting today

We exited half off the TWTR June 15, 2018 32 calls just the other day at $4.70 from an entry price of $2.93.  Let’s sell to close the second half of the calls today ahead of expiration.  These last traded at $8.25.

AMGN June 15, 2018 175 calls — $5.70 — exiting today

We exited half of this trade just the other day as it traded at $9.55 from an entry of $5.70.  With expiration nearing, let’s sell to close the other half today, which last traded at $8.55.  However, we don’t believe the run is over for AMGN.  Let’s also buy to open the AMGN August 17, 2018 190 calls at market, which last traded at $4.10.

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 $122.25.

Bristol Myers Squibb (BMY) stock — $51.25
BMY June 15, 2018 52.50 calls – $1.80

BMY last traded at $52.51.  Hold the stock and the calls at this time.