1:25pm (EST)
We have 2 New Trades for our Weekly Wrap as we covered a lot of possible plays that looked good to us. We have room for up to 5 new trades and we are adding these 2 trades to get the ball rolling. We also have a Profit Alert on one of our LEAP option trades that has banked us 213%!
Subscribers, check the Weekly Wrap Premium section for the update. We could have new trades or Profit Alerts throughout the week so stay tuned.
MEMBERS AREA
New Trades!!!
Buy Boston Scientific (BSX, $12.29, up $0.01)
Buy to OPEN January 13 calls (BSX140118C00013000, $0.45, down $0.05)
Action: We have a near-term target of $15 but shares could hit $20 in 2014. We are going to BUY the stock at current levels but we will wait to sell options against the position as a covered call trade. We are also suggesting the LEAP options as we think they are a steal at current levels.
Current Trades
Opko Health (OPK, $10.48, down $1.12)
March 10 calls (OPK140322C00010000, $1.80, down $0.75) LEAP Option Trade
Original Entry Price: $0.75 (9/19/13)
Exit Target: $2.00 (closed half @ $2.70 on 10/15/2013)
Return: 213%
Stop Target: $2 (Limit Stop)
Action: Shares are on the slide again today and our Limit Stop on the other half of the trade has been triggered. The options opened at 2.47 and have fallen 30% but we walked away with a 213% return in a little over a month. We will keep an eye on the stock as we could be getting another opportunity to go long if $10 holds.