NaughtyPines

TRADE IDEA: GNW COVERED CALL

NYSE:GNW   GENWORTH FINANCIAL INC
Metrics:

Buy Shares at 4.62
Sell Oct             21st 5 call
Whole Package: 4.36
Max Profit: $64 (if called away at 5)
ROC: 14.7%

Notes: The ROC metrics are good here; the chart is not. The underlying is at highs, so it might be beneficial to wait for a pullback to initiate a play. By the same token, there is room to the upside (albeit small to next ZigZag indicated resistance at 5.16). I looked at premium on the put side; in my opinion, not enough juice there to sell, for example, the naked Oct             21st 4.
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