3:35pm (EST)
We have another New Trade for our Weekly Wrap on a stock that has been heavily discounted in recent weeks. We started new positions in the stock this morning and we are getting into the LEAPs this afternoon.
Our first trade on this name made 189% and we believe at current levels we will see another triple-digit return in 6-12 months on both the stock and the LEAP options we are recommending.
Subscribers, check the Members Area for the update.
MEMBERS AREA
New Trade!!!
Biopharma (GALE, $5.29, up $0.36) LEAP Trade
Buy to OPEN October 7 calls (LEAPs) (GALE141017C00007000, $1.15, up $0.20)
Action: We like these call options at current levels.
Current Trades
Galena Biopharma (GALE, $5.29, up $0.36) Stock Trade
Original Entry Price: $5.17 (2/10/14)
Lowered Price from Selling Options: $5.17
Exit Target: $10
Return: 2%
Stop Target: $2.50
Action: We added shares at the open this morning at $5.17.