OddStockTrader Scan 5/12/2020

by | May 11, 2020

Pretty muted day for me overall with not much in my wheelhouse out there. Most things on my screen just churned which just tells me focus was on wrong names for a day. So, when that happens, just need to do full re-screen and find biggest movers to go after. Hope everyone out there is doing well and enjoying the free scans on Mondays. I will be doing some Webinars again with Tyler from the Room in the next couple of week so look for that.

Here are the names on radar for tomorrow.

NVAX – Huge move after hours and the short on it near $39s was great. Hopefully holds up there into the open tomorrow for a short. Shorts are buried at these levels so will respect the trend until it fully turns over for the short. Possible area $43.

WTRH – Looking for $3.70s for even the $4.20s for the short tomorrow. Should be a huge trade after the parabolic move.

DKNG – Soros stake after hours. Feel like move might still be overdone up here but if that $26 manages to breakout will join with calls likely vs. stock.

MARK – Looking for a parabolic short here as well. Shorts stuck pretty good on this pump so far but it can go another entire day before the move we want. Thinking possible $3.15 move for short tomorrow.

KOPN – CEO form 4 after hours. Can join the MARK momo over $1 and I think possibility is high here. Will be one of my main longs out the gate unless we have a MARK gap down.

FRSX – Same idea as KOPN

FTEK – Still keeping on screen and have a swing on it. Only reason I care is the volume day Friday.

LUVU – Big missed move on this one today. Ideally weak open near .30 for long join. If it does open over .40s likely will join it as well.

NMHLY – Nice bounce on this beaten down name. Missed it today completely but will be on radar now.

5 Comments

  1. Hi Cody, thanks for the great posts today and prior!!! Question…why calls versus the underlying stock on DKNG? And the calls you look at ….would they be at the money and short term expiry?

    Reply
  2. Thanks

    Reply
  3. Thanks Cody!

    Reply
  4. @scoot, am not sure what Cody’s answer will be but I like options to stocks for three reasons: 1.) free up my stock trading capital (options allow me to risk a fixed amount of my trading capital).
    2.) Weekly expiration Options allow me some days for the trade to work out…instead of just closing the stock positions the same day when the trade hasn’t worked out yet..to its full potential.
    3.) the multiples on options are huge compared to stocks…a $1 move in stocks could produce a 2-10x in options.
    Hope the above is helpful…

    Reply
    • Thanks 365!

      Reply

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