Call: JP Morgan Chase & Co (JPM); Put: Verizon Communications (VZN); Covered Write: Ally Financial (ALLY).
Daily Option Ideas for August 2, 2024
Calls
New Recommendations
| Name | Option Symbol | Action | Stop Loss |
|---|---|---|---|
| J.P. Morgan Chase & Co. - $197.99 | O: 24J195.00D18 | Buy the October 195.00 calls at 12.50 | 178.00 |
Follow Ups
| Name | Option | Action |
|---|---|---|
| Halliburton Company ( HAL) | Sep. 38.00 Calls | Stopped at 32.00 (CP: 31.67) |
| Permian Resources Corp. ( PR) | Aug. 16.00 Calls | Stopped at 14.00 (CP: 14.73) |
| AFLAC Incorporated ( AFL) | Aug. 85.00 Calls | Stopped at 13.00 (CP: 12.40) |
| Occidental Petroleum Corporation ( OXY) | Sep. 62.50 Calls | Stopped at 58.00 (CP: 57.50) |
| Bunge Limited ( BG) | Oct. 110.00 Calls | Stopped at 100.00 (CP: 98.14) |
Puts
New Recommendations
| Name | Option Symbol | Action | Stop Loss |
|---|---|---|---|
| Verizon Communications Inc. - $40.72 | O: 24V41.00D18 | Buy the October 41.00 puts at 1.67 | 44.00 |
Follow Up
| Name | Option | Action |
|---|---|---|
| Microchip Technology Incorporated ( MCHP) | Oct. 90.00 Puts | Initiate an option stop loss of 12.00 (CP: 14.00) |
| Autodesk, Inc. ( ADSK) | Oct. 240.00 Puts | Initiate an option stop loss of 16.30 (CP: 18.30) |
| Chevron Corporation ( CVX) | Sep. 155.00 Puts | Initiate an option stop loss of 6.50 (CP: 8.50) |
| Chevron Corporation ( CVX) | Dec. 155.00 Puts | Raise the option stop loss to 10.55 (CP: 12.55) |
| United Airlines Holdings Inc. ( UAL) | Dec. 47.00 Puts | Raise the option stop loss to 6.05 (CP: 8.05) |
| Old Dominion Freight Line, Inc. ( ODFL) | Dec. 205.00 Puts | Initiate an option stop loss of 18.40 (CP: 20.40) |
Covered Writes
New Recommendations
| Name | Option Sym. | Call to Sell | Call Price | Investment for 500 Shares | Annual Called Rtn. | Annual Static Rtn. | Downside Protection |
|---|---|---|---|---|---|---|---|
| Ally Financial Inc. $ 42.55 | O: 24K41.00D15 | Nov. 41.00 | 3.20 | $ 18,969.50 | 24.32% | 25.30% | 6.78% |
Still Recommended
| Name | Action |
|---|---|
| Sunrun Inc ( RUN) - 17.51 | Sell the October 18.00 Calls. |
| Smith & Wesson Brands Inc. ( SWBI) - 16.23 | Sell the November 17.50 Calls. |
| Seagate Technology ( STX) - 99.00 | Sell the December 105.00 Calls. |
| NVIDIA Corporation ( NVDA) - 109.43 | Sell the November 118.00 Calls. |
| Live Nation Entertainment Inc. ( LYV) - 92.98 | Sell the November 95.00 Calls. |
The Following Covered Write are no longer recommended
| Name | Covered Write |
|---|---|
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