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Weekly Position Updates / Extreme Trade Updates — with New Trades (7/9/18)

Extreme Trade Updates — with New Trades (7/9/18)

July 9, 2018

The 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 $46.13 a share.

Canopy Growth (CGC) — formerly TWMJF — $29.75
We would reiterate a buy at $29.66, as well

The stock is now up to $30.04 and remains on 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 $77.20. We also still hold the second half of the ATVI August 2018 77.50 calls, which last traded at $3.30.

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 $85.95 a share.  Believing the stock can break higher from here, let’s also buy to open the PYPL November 16 ,2018 80 calls, which last traded at $4.80.

WTW stock at $67.66 — exited half
WTW August 17 2018 105 calls at $7.10

We hold the second half of the WTW stock, which last traded at $102.45.  Believing that WTW could rally even higher, we had also recommended that you buy to open the WTW August 17, 2018 105 calls, which traded at $7.10 on July 27, 2018.

TWTR stock at $31.67 — exiting half

We exited half of the TWTR stock for win.  Hold the second half, which now trades at $46.65.

Bristol Myers Squibb (BMY) stock — $51.25

We still hold the BMY stock, which last traded at $56.56.  Believing BMY can break higher, let’s also buy to open the BMY September 21, 2018 57.50 calls, which last traded at $2.04.

Square Inc. (SQ) stock — $63.90
SQ August 17, 2018 65 calls — $4.45
SQ August 17, 2018 70 calls — $2.75

All remain on hold at this point.  The stock last traded at $66.45.

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 $46.70.

iQIYI Inc. (IQ) stock 00- $30.85 entry
IQ September 21, 2018 35 calls — $3.50 entry 

Both positions remain on hold at this point.  While the stock has slipped since recommendation, we have a near-term price target of $45 on the stock.

Okta Inc. (OKTA) stock — $51.25 entry
OKTA August 17, 2018 50 calls — $4.30 entry

We’re already showing slight gains on both positions.  Hold.  The stock caught its 50-day moving average and is just beginning to pivot higher. We have a near-term price target of $60 on the stock.