We have 2 NEW TRADES for our Weekly Wrap that we are adding today. One is an old favorite that we believe will make 30% over the next few months while the other is a Financial sector play that could make as much as 50% over the next 6-12 months. We believe the company is an excellent takeover candidate.
Subscribers, check the Weekly Wrap Premium section for the New Trades!
Dendreon (DNDN, $4.91, up $0.30)
Sell to OPEN August 6 calls (DNDN130817C00006000, $0.55, up $0.13)
Action: We like the stock at current levels and for every 100 shares of stock you buy, sell the August 6 calls for 55 cents to lower the cost basis to $4.36.
Genworth Financial (GNW, $9.88, up $0.01)
Action: We like shares at current levels and we will wait to sell an option against the position.