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.
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.