Earnings are heating up this week, and judging from last weeks price action, we are sure to see some incredible post earnings moves. Aside from some earnings trades I'll be looking at for this week, here are a few trades I am looking to make for stocks that aren't reporting earnings this week.
and no its not CMG is GME... sorry for the wrong ticker on the chart.
$GME has been pulling back since the early summer. It has reached long term support and I think there is a good chance this $25 stock heads back over $30 in the short to medium term.
A failure to hold support would negate the bullish bias .
Here is the chain for next weeks options. I am looking at the $25.50 calls
After a precipitous fall the dust has settled on $VRX. Options are pricing in very little upside potential for the stock, and if it breaks under $20 I do think the upside potential is gone. But as it stands now the stock is hanging tough around the $22 level. The action has quieted down and after relentless selling I think we could see a relief bounce in the short term.
Next weeks call options, namely the $23 calls for $.45, offer some time to potentially capitalize on relief rally.