Weekly Wrap New Trade (LLNW)/ Profit Alert (NLY)/ (KO) Update for 6/4/2014

2:20pm (EST)

I have an update on a current Weekly Wrap trade as well as a New Trade for today and a. Profit Alert.

Subscribers, check the Members Area for the updates!



Buy Limelight Networks (LLNW, $2.50, up $0.13)

Action:  The Weekly Wrap has done several stories on LLNW ahead of this week’s court victory against AKAM.  More details to come.

I am recommending shares at current levels but not selling options on this trade.  The company is in turnaround mode.  Start new positions at current levels.

Current Trades

Coca-Cola (KO, $40.91, up $0.25) strangle option trade

June 40 puts (KO140621P00040000, $0.17, up $0.01)

Original Entry Price:  $0.50 (4/24/14)
Exit Target:  $1.20
Return:  -66%
Stop Target:  None

Action:  Close the put options at current levels.  I want to leave the call options open.

To save some premium, I said if shares cleared $41, to close the June 40 puts.  KO kissed this level on Tuesday.  If shares can clear $42, the trade should break even.

Annaly Capital Management (NLY, $11.55, down $0.09) stock trade

Original Entry Price:  $11.39 (4/24/14)
Lowered Price from Selling Options/ Dividends  $11.39
Exit Target:  $15
Return:  1%
Stop Target:  $10
Current Dividend Yield: 10.3%

Action:  Close the position at current levels as shares could test $11.25-$11 over the near-term and where I will look to reestablish a position.