Tuesday, May 26, 2020

Tuesday 26 May 2020 Morning Notes

First day back after the long holiday weekend. I bought back my SONO puts on Friday after the stock went nowhere and IV dropped considerably, for a +30% gain overnight. Really regret not trading more of those. I expect SONO IV to completely deflate when it opens this morning after no news came out over the weekend. 

Earnings: Yesterday AMC:
Today BMO: AZO

Other News: SIX, SEAS, RCL, NCLH all popping on vaccine hopes and reopening plans; 

Follow Through Names to Watch: DE, FL, PANW, SPLK

ARGX: +25% at 197.25 on drug data;
NVAX: +16% at 53.30 on drug news; 
MRK: +3.4% at 78.99 on drug news and plans to acquire drug co. Themis;

HTZ: -36% at 1.83, filed ch. 11 bankruptcy. Spent about a half hour scoping out 1x2 ratio put spreads in the name on Friday, didn't pull the trigger. Those will crush it this morning.


Follow through watch:

Day before Y'day AMC: HPE, INTU, NVDA, PANW, SPLK; DECK,  
Yesterday BMO: BABA, DE, FL, PDD

 Y'day Other News: PANW: +6.9% at 245; SPLK: +6.6% at 174; MRNA: +5.9% at 71 on Fauci comments; HPE: -7% at 9.63;

2 days ago AMC: EXPE, HUYA, LB, TTWO, YY;
2 days ago BMO: HRL, MDT, BBY;

2 Day Old News: BIDU: -4.3% AT 103.85, considers delisting from Nasdaq #lulz;

TT Track of the Day: Guns n Roses - Patience, as in, I'm running out of patience with TDAmeritrade and their tech issues on Friday mornings. Already migrating that account elsewhere

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