NEW DIRECTIONAL CALL PLAYS
Centene Corp. - CNC - close: 63.38 change: +1.85
Stop Loss: 61.25
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below
Why We Like It:
CNC is in the healthcare sector. The company provides managed care and specialty services. A number of healthcare names rallied after the Center for Medicare & Medicaid Services (CMS) released their proposed 2015 payment and policy update. Shares of CNC surged +3.0% and closed at new four-month highs.
I am suggesting a trigger to buy calls at $63.60. If triggered our target is $67.75. More aggressive investors may want to aim higher since the Point & Figure chart for CNC is bullish with a $78 target.
Trigger @ 63.60
- Suggested Positions -
Buy the Mar $65 call (CNC1422C65) current ask $1.25
Point & Figure chart:
Entry on February -- at $---.--
Average Daily Volume = 656 thousand
Listed on February 24, 2014