NextOptions.com Index and Earnings Options Play List for 10/20/2017
Market Recovers Early Losses
The market closed mixed on Thursday after battling back from early morning losses of roughly 1%. The Dow and S&P 500 extended their winning streaks to five-straight after gaining positive territory ahead of the closing bell. The Russell 2000 also rebounded off its morning low to trade into positive territory before finishing slightly lower while holding the 1,500 level. Meanwhile, the Nasdaq was the weakest link, after falling 0.3%, but was able to hold the 6,600 level.
The Dow gained 5 points, or 0.02%, to end at 23,162. The blue-chips stumbled to a low of 23,052 with upper support at 23,000-22,800 holding. The rebound to 23,167 fell shy of the all-time high by 4 points and resistance at 23,250.
The S&P 500 added nearly a point, or 0.03%, to close at 2,562. The index tested to a low of 2,547 to breach upper support at 2,550-2,540. Lower resistance at 2,560-2,575 held into the closing bell with the S&P closing a quarter-point off its high.
The Nasdaq fell 19 points, or 0.3%, to settle at 6,605. Tech traded in negative territory throughout the session while tapping a low of 6,558. Lower support at 6,600-6,575 was breached with a close below 6,550 being a bearish development. Resistance remains at 6,625-6,650.
The Russell 2000 slipped 3 points, or 0.2%, to finish at 1,502. The small-caps kissed a low of 1,491 with lower support at 1,500-1,490 holding. Resistance at 1,515-1,525 held on the push to 1,507 intraday.
The S&P 500 Volatility Index ($VIX, 10.07, down 0.24) soared past upper resistance at 10.50-11.50 following the morning high of 11.72. Support at 9.75-9.50 held on the late day fade to 9.99.
Athenahealth (ATHN), Del Taco Restaurants (TACO), E*Trade Financial (ETFC), Intuitive Surgical (ISRG), PayPal (PYPL), Sketchers (SKX), WD-40 (WDFC) reported earnings after Thursday's close.
Baker Hughes (BHGE), Cleveland-Cliffs (CLF), General Electric (GE), Honeywell International (HON), Procter & Gamble (PG), Schlumberger (SLB), Sun Trust Banks (STI) are announcing numbers this morning.
Our top triple-digit winning option recommendations for 2017:
+900% Lumber Liquidators August 27.50 calls (August 2017)
+300% JDcom June 37 calls (May 2017)
+300% Kate Spade March 20 calls (March 2017)
+300% Imax May 30 puts (May 2017)
+286% Fastenal May 49 puts (April 2017)
+246% Dick's Sporting Goods June 45 puts (May 2017)
+244% Starbucks February 57.50 puts (February 2017)
+200% GameStop April 22.50 puts (March 2017)
+173% Alibaba February 100 calls (January 2017)
+169% Amicus Therapeutics August 12 calls (July 2017)
+110% Amicus Therapeutics July 8 calls (June 2017)
+100% Cisco Systems October 32 calls (September 2017)
+100% Bank of America July 23 calls (June 2017)
+100% PowerShares QQQ ETF February 122 calls (January 2017)
+100% Array BioPharma January 8 calls (January 2017)
Here is a quick peak at another triple-digit winner and a trade currently in play!
Limelight Networks (LLNW, $4.71, up $0.23)
LLNW December 4 calls (LLNW171215C00004000, $0.85, up $0.25)
Profiled Price: $0.37 (9/22/2017)
Exit: $1.20 (Limit Order on HALF)
Stop: 50 cents (Stop Limit)
Action: Set an initial Stop Limit at 50 cents to start protecting profits.
Shares traded to a 52-week of $4.98 yesterday with the options testing a high of $1.02. Fresh resistance is at $4.75-$5. Rising support is at $4.40-$4.35.
The company reported a profit of $0.02, versus expectations for a flat quarter. Revenue came in at $46.1 million, topping forecasts of $43.1 million. Limelight Networks also raised full year profit and revenue guidance. Two analysts upped their price targets from $4 and $5.50 to $6.
Get Ready for 3Q Earnings Season!
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