Quick note. Thanks for all of the emails and success stories you shared with me on the Dendreon (DNDN, $17.33, up $0.30) trade. I had one person write me and said they made an $80 investment in a couple of April call options and the trade returned them $1900. Wow. That is what a 2500% return will do for you.
Naturally, everyone wants to know what’s next for the stock. If you closed the entire position in the April and May calls and didn’t pick up any of the August calls then you could start a small position again in the May 25 calls (UKOEE, $1.25, unchanged).
I think the stock has a slight chance of making it to the mid-$20’s by the end of the month and these calls should at least double if that is the case.
I will provide a complete update in the Weekly Wrap with some more comments. If you haven’t signed up for the Weekly, enter your email address in the box on the right. It has been a great week despite a choppy market and we crushed it.