This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bulls Target Genworth Again

By Pete Najarian, co-founder of OptionMonster

NEW YORK -- Genworth (GNW) has been performing well along with other financials, and Monday the option activity again turned bullish on the name.

OptionMonster's tracking systems detected heavy buying in the April 10 calls for 12 cents to 18 cents. Then when the shares started climbing, those contracts ran up to 25 cents by late in the session. More than 26,000 of the calls changed hands, far above the strike's existing open interest of just 333 contracts, clearly showing that this is new activity.

These calls lock in the price where investors can buy shares, which can result in major leverage if a stock moves in the right direction. And that's exactly what happened Monday with Genworth.

Its shares closed the session up 6.69% to $9.09. The company, which offers insurance and investment services, is up more than 50% since the beginning of December.

Total option volume in the name was seven times greater than average Monday. Overall calls outpaced puts by 7-1, a reflection of the bullish sentiment.

Najarian owns GNW calls.
This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GOOG $707.00 0.79%
TSLA $212.32 0.37%
YHOO $36.88 -0.16%
AAPL $92.51 -0.78%
FB $118.67 0.73%


Chart of I:DJI
DOW 17,646.16 -14.55 -0.08%
S&P 500 2,046.02 -4.61 -0.22%
NASDAQ 4,700.6070 -16.4870 -0.35%

Free Reports