Extreme Trade Updates (6/6/18) — Includes Big Wins and New Trades
June 6, 2018The 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.