10:35am (EST)

NEW TRADE!

Dendreon (DNDN, $9.95, down $0.27)

November 10 calls (DNDN111119C00010000, $1.00, down $0.05) 

Action:  For each 100 shares you buy, sell to open the November 10 call for a buck.  This will lower our cost basis to $8.95.  Dendreon is a strong take-over target at these levels.


CURRENT TRADES

Vivus (VVUS, $8.66, up $0.11)

November 9 calls (VVUS111119C00009000, $0.35, flat)

Action:  Sell to open the November 9 calls to lower our cost basis in VVUS to $7.80.       


MGM Resorts (MGM, $10.57, down $0.15)

November 11 calls (MGM111119C00010000, $0.50, down $0.05)

Action:  Sell to open the November 11 calls to lower our cost basis to $9.73.