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Weekly Position Updates / Extreme Trade Updates (9/9/18)

Extreme Trade Updates (9/9/18)

September 9, 2018

The following trades remain on hold:

Applied Materials (AMAT) stock — $49.90

AMAT currently trades at $39.85.  Continue to hold.

iQIYI Inc. (IQ) stock – $30.85 entry
IQ September 21, 2018 35 calls — $3.50 entry 

IQ now sits at $27.16 a share.  Hold both trades.

Okta Inc. (OKTA) stock — $51.25 entry

OKTA is now up to $71.92.  Let’s take the win here.

Adobe Systems (ADBE) — $248.96

The stock now sits at $260.87 and remains a hold.  We have a near-term price target of $280.

Raytheon (RTN) — $187.12

RTN is back up to $200.38.  Hold the stock with a near-term price target of $210.

Twitter (TWTR) — $32.68
TWTR September 21, 2018 33 calls — $1.85

Hold the stock, but exit the calls.  The stock pulled back in recent days, and may not work out prior to expiration.

Facebook (FB) stock– $175.84
FB September 21, 2018 180 calls — $4.80

Hold the stock, but exit the calls.  The stock pulled back in recent days, and may not work out prior to expiration.

Barrick Gold (NYSE:ABX) — $10.25
ABX January 18, 2019 10 calls — $1.01

As gold begins to rebound higher, related stocks are beginning to push higher.  We have a near-term price target of $11.50 on ABX.

Micron Technology (NYSE:MU) — $49.85
MU October 19, 2018 52.50 calls — $2.46

The stock pulled back in recent days on a tech sell off to $44.86.  Hold both positions at the moment.  MU has become aggressively oversold.

Weight Watchers (NYSE:WTW) — $73.87
WTW October 19, 2018 80 calls — $2.85

Still oversold, we have a near-term price target of $92.50.  That would refill its bearish gap from August 6, 2018.  Hold.

Goldcorp Inc. (NYSE:GG) — $10.84
GG January 18, 2019 11 calls — 78 cents

The stock is down slightly at $10.28.  We continue to hold on oversold conditions.  We have a $15 price target.

OrganiGram Holdings (OTC:OGRMF) — $4.98

As the marijuana story heats up on corporate interest and Canadian legalization in October 2018, stocks such as OGRMF should continue to push higher.

Newell Brands (NYSE:NWL) — $21.55
NWL December 21, 2018 22 calls — $1.58

NWL is still technically oversold.  With patience, we believe it could eventually refill its bearish gap around $26.40.  Hold.