We're entering a vertical call spread in Quest Diagnostics Incorporated (NYSE: DGX).
Here's what to do...
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DGX
Grab at Least $235 to Start the Week
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We're ending the week this morning with a brand new trade recommendation on this clinical laboratory company...
Today's Featured Signal - Quest Diagnostics, Inc. (NYSE: DGX)
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As I indicated yesterday, things are just feeling a little wonky with stocks at the moment. The feeling on the Street is that this market is on wobbly legs, and I don't disagree.
We've been holding calls on Quest Diagnostics Inc. (NYSE: DGX) in the portfolio for about a month now with no movement. Now, the stock is trading higher, but the time premium on the option is dropping faster.
We used an option on this trade as a stock alternative, so I would rather treat the position accordingly and take some profits before the time value starts making the position act more like an option than a stock.
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Last week, President Trump tweeted about placing a 10% tariff on $300 billion of Chinese goods.
And this morning, China responded with a "bring it on." The country promised to retaliate, and it appears poised for a full-out battle.
It's important to note that higher tariffs mean higher costs for U.S. companies reliant on Chinese products. And higher costs mean lower profits.
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Let's start this week the best way we know how - with two new profit opportunities.
Quest Diagnostics Inc. (NYSE: DGX) gapped up on big volume July 23 after beating revenue estimates. Now, although DGX beat estimates, under the covers earnings actually declined from a year ago.
On Friday, DGX reaped that decline, closing below the low of the volume spike day. And it looks destined to drop to our V3 profit target of $98.
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