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Genworth Financial Inc

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GNW trade ideas

TRADE IDEA: GNW COVERED CALLMetrics: 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.
NYSE:GNW
by NaughtyPines
GNW - recovering fortune 500 giant, turnaround play of the yearGNW recovery play, Long at 3.08 as of 6/14/2016, target 6.50 or more by this time next year. GNW was hit by horrible guidance and earnings the previous year and is just starting to recover since the last earnings early May. It has stopped the bleeding in its LTC unit and is poised to make a turnaround. Rate hikes should help GNW as well. 82% of stock float is held by institutions and mutual funds, and multiple firms have been picking up position in the stock the last quarter. The current tradable float is small and will be very volatile on low volume. I'm long Jan 2017- 5 strike calls. Looking for 5 by September
NYSE:GNWLong
by profprof
Technical revision of an undervalued insurance giantGenworth recently took a nosedive on concerns related to one time expenses, a good will impairment and a capital reserve charge. Another capital reserve charge is possible for the next quarter. All in all, this company is trading at a wide discount to long term earnings power. Through a sum of parts analysis, we have currently valued the business at $14 a share. However once return on equity improves, reflecting book value more accurately, we come up with a 0.6x bv figure which generates a $18 price target --- this will likely take 2-3 years to take full effect. The reason I'm analyzing the 30 minute chart is because we have very interesting volume going on in the prints just below $9 a share. In the three circles, I have noticed heavy accumulation which are likely related to mutual funds or hedge funds. This is a critical area for prop traders, possibly a buy limit level. The good news is that we will most likely NOT re-test this support. Prints are consolidating and technical indicators are projecting a measured move to the positive side following this descending wedge formation. The two candles highlighted in RED is confirmation of this breakout. This is not a dead cat bounce. Load up and be patient. This gap will fill. It may arrive at $10.50+ before the next ER.
NYSE:GNWLong
by Tech_time