Workhorse… What’s Going On?

I was able to record my #1 day-trading day of this month yesterday trading stock options of this nature…

Three trades… +806%…

There’s $37,000 behind a trade I’m watching today AND three BONUS trades!

Ticker Code Ticker Name Ticker Industry Price Change Average Volume (50)*
TSLA Tesla Inc Auto Manufacturers 41.89% 15,163,942
INO Inovio Pharmaceuticals Inc Biotechnology 42.69% 48,114,460
NIO Nio Inc – ADR Auto Manufacturers 51.07% 161,790,440
SMTI Sanara Medtech Inc Surgical appliances and supplies -9.51 6,619
SRNE Sorrento Therapeutics Inc Biotechnology 54.85% 24,592,813
VXRT Vaxart Inc Biotechnology 73.59% 44,675,038
MVIS Microvision, Inc. Scientific & Technical Instruments 49.02% 13,815,848
AMZN, Inc. Internet Retail 19.37% 5,131,854
GNUS Genius Brands International Inc Entertainment -331.45% 53,113,597
IBIO Ibio Inc Biotechnology 63.89% 40,493,573
XSPA XpresSpa Group Inc Personal Services -55.31% 9,086,175
AAPL Apple Inc. Consumer Electronics 16.23% 34,313,373
MRNA Moderna Inc Biotechnology 21.95% 28,287,899
WKHS Workhorse Group Inc Auto Parts 80.27% 41,692,223
NJMC New Jersey Mining Company Gold and Silver Ores 45.71% 165,534
HTBX Heat Biologics Inc Biotechnology 61.14% 49,209,735
TTOO T2 Biosystems Inc Diagnostics & Research 27.61% 16,433,320
SPCE Virgin Galactic Holdings Inc Aerospace & Defense 30.68% 22,859,687
MSFT Microsoft Corporation Software – Infrastructure 10.29% 34,378,061
NVAX Novavax, Inc. Biotechnology 69.54% 8,232,909

Four of the five FAANG stocks reported quarterly earnings yesterday.

While big-tech delivered blowout earnings, stock futures are flat this morning.

However, Workhorse Group (WKHS) has yet to report quarterly earnings.

In fact… as traders, we don’t even need to worry about them until August 10.

While shares have been trading fairly sideways since July 7…

WKHS Daily Chart

That isn’t always bad news.

You see, sometimes trading in consolidation can be a sign of a potential move setting up in the hours or days ahead…

And those are the exact moves we want to participate in to make some money as traders ourselves!

Yesterday I saw two components of a possible hint piece together:

  1. WKHS volume increasing to 18.7M
  2. Unusual Options Activity

And today it’s hitting my list of stocks which financial professionals are thoroughly vetting…

In fact, just yesterday some option-playing cowboy pulled out his checkbook and bought:

566 WKHS August 7 18 Calls
Paying $0.65 Per Contract
For a total of $37K in Premium

I’ll explain why I find this appealing.

While $37K is pennies for a household name like Amazon… $37K is a fat bet for Workhorse.

Having calculated the WKHS August 7 18 Calls…

This option player only needs WKHS to trade around $17.25 to double their money.

What a “conveniently-timed” bet they placed…

But can we make the same move too?

You bet we can! Above $16.50 and support, and I’d give WKHS a short-term target price of $18.

And I’d be interested in buying into the WKHS August 7 18 Calls for a possible passive income trade through the weekend.

Bonus Trades I’m Watching:

  1. INSG August 21 15 Calls
  2. IDEX August 21 2 Calls
  3. MSFT July 31 200 Puts

I’ll be in touch later on — keep an eye on your inbox.

In the meantime, here is today’s premarket primer video.

Davis Martin
America’s #1 Options Trader

Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.

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