Weekly options have become increasingly popular in recent years and mostly for good reason. They give investors and traders the opportunity to take advantage of the options market without having to predict months into the future. Additionally, weekly options can be just the answer to a short term hedge in a time of uncertainty.
However, not all weekly options may be worth our precious time and capital. A losing trade in two days feels just about the same as a losing trade in twenty days from where I stand. Additionally, I must admit, anything under $10 in today’s market environment is very likely under $10 for a reason so exercise extreme CAUTION when trading these assets.
In this post I’ll uncover a complete list of stocks under $10 with weekly Options that may actually be worth considering. I can’t say I’d hold all of them long term, but therein lies the greatest feature of weekly options. We don’t have to!
Before we begin, here are a few links that may prove valuable to anyone who trades options;
- Beginners Options Course
- Bullish Strategies, Bearish Strategies, Neutral Strategies
- Free Trading Tools
- OptionBoxer’s Most popular Videos
List of Stocks Under $10 with Weekly Options
1. AMC – AMC Entertainment Holdings
Today’s Closing Price – $5.71
AMC is every diamond handed investor’s favorite stock. Any ape could see that. For those that have traded this stock before you may remember the wall street bets craziness that took place when AMC and Game stop shares went soaring. Nevertheless, AMC holders have watched their share price decline to a meager $5.71 as of the writing and lightyears from the $72 dollar high just two years ago.
AMC’s stock does however check all the boxes for the number one spot on our list of stocks under $10 with weekly options. They offer an attractive premium given the high level of volatility still present in this market. Do be careful to keep an eye for volatility declining, that may just be the time to leave this one behind.
2. SIRI – Sirius XM Holdings
Today’s Closing Price – $5.86
Everyone’s favorite commercial free radio. Well everyone’s favorite for 3 months after they get a new vehicle anyway. Then their everyone’s favorite spam caller. That said, it’s not all bad, they will write you almost everyday to give you something to read at the post office.
In any case, Sirius XM is a viable business that does make money. If not from us the consumer from what I assume are healthy contracts with car manufacturers to have their product in every vehicle built in the last 2 decades. Additionally, they do offer a dividend so If you’re interested to test the waters into truly passive dividend income then there is no doubt you could do much worse with another sub $10 stock.
3. BOIL – Proshares Trust II Ultra Bloomberg Natural Gas ETF
Today’s Closing Price – $6.28
Honestly, I’ve never traded BOIL in my life but looking at it the premiums couldn’t be more attractive for our weekly options list. The asset didn’t begin offering weekly options until October of 2022 so there is a strong chance volume and open interest will continue to increase as others become aware of the attractive premiums.
Here are all the details from Proshares.com.
4. HL – Hecla Mining Company
Today’s Closing Price – $6.28
As I write this, the premiums here are not the most attractive on this list but the company appears to be a potential up and comer in the materials sector. Earnings per share have fallen but outside of that the fundamentals look about as we would expect for such a company. Top that with the stellar bull market gold and silver are experiencing makes Hecla Mining an interesting candidate indeed.
5. RIOT – RIOT Blockchain Inc.
Today’s Closing Price – $6.86
If you’ve been around the cryptocurrency space in the last 5 years then you’ve no doubt heard of Riot Blockchain before. Riot was formerly another company before pivoting into the blockchain space as cryptocurrencies reached a fever pace. They became every crypto millionaire’s favorite stock and could be again if bitcoin decides to get out of bed.
Regardless, from an investment perspective I’m not sold on the long term viability of crypto mining as a primary revenue source. Nevertheless, as a short term play Riot could make sense to collect some options income.
6. LAZR – Luminar Technologies
Today’s Closing Price – $7.14
Luminar Technologies trades in the discretionary sector but is a relatively young company having just incorporated in 2018. They don’t appear to be profitable but their stock chart looks stable and their premium offerings are excellent. If I were in the market for a long shot play for my portfolio I think LAZR would be it.
From an options only perspective I can see this as an asset with a well that doesn’t run dry. Heightened volatility and a stock chart that doesn’t look like its on the wrong end of the demand curve makes LAZR a great addition to our list of stocks under $10 with weekly options.
7. SOFI – SOFI Technologies
Today’s Closing Price – $7.38
I’m not sure where SOFI went wrong for investors but it wasn’t many months ago they were showing up on several of my watchlists, regularly. I haven’t seen them as much lately but they do appear to have a nice bullish trend starting. Add to it acceptable premiums that should only improve as volatility climbs and SOFI seems like a quality candidate for anyone’s weekly options list.
8. MARA – Marathon Digital Holdings
Today’s Closing Price – $7.52
Marathon Digital is a short term options traders class favorite offering premiums you won’t find on stocks five times as expensive. I know many traders currently running options systems using the weeklies MARA provides. Trade with caution though as I also know a few traders holding some rather large MARA bags as they try to collect enough income not to lose their shirt.
9. JBLU – Jetblue Airway’s Corporation
Today’s Closing Price – $8.25
Probably my favorite stock in the list from a buy and hold perspective. They don’t offer a dividend so that pretty much eliminates them from consideration for my own portfolio but if the travel industry ever gets out of their own way I like Jetblue. In the meantime JBLU offers a modest premium for a stock that could just be worth holding on to for years to come.
That said, Jetblue is far from the largest player in the commercial airline game so it wouldn’t be a stretch to see a potential recession push them to the brink. Trade with caution and manage risk like a hawk.
10. UNG – United States Natural Gas ETF
Today’s Closing Price – $8.50
A worthy candidate for any options traders portfolio would be UNG. The liquidity alone in this market makes it a strong consideration for the myriad of options strategies. I’ve traded this one on several occasions and haven’t been disappointed.
UNG responds well to technical setups, trends well for the trend trader, and is known to make large moves relative to its share price. Currently the average true range is $1.41. To say that another way, the stock averages whopping 16% move each day! That’s insane!
Get the directional assumption right and UNG could just be the canary in the natural gas mine, or something like that.
Well that about wraps up the list of stocks under 10$ with weekly options for today’s post. Each candidate above has been screened from hundreds of possible stocks to provide a list worthy of our attention. Notice I didn’t say worthy of our investment.
Each of these should be treated with extreme CAUTION because as I’ve already mentioned, there’s likely a very serious reason they’re below $10 per share. They do however, offer attractive premiums and the coveted weekly options we options traders love.
I hope you’ll enjoy the extra buying power, please use it wisely, and until the next post, take care!