Unusual activity for next week CALLs..I threw out 528 Aug $50 Calls at .35 ..they took all even PPS were going down in mid day.....Wondering what is coming next week...this is really unusual unless bullish news is in pipeline for next week news before Friday next week......I am not selling any core holding near term GLTA
Maddie: Reality is blossoming out today Wed 1:00 pmET...So close to $50..some thing in air...specialist that bought all CALLS I offered on Fri ...8th while PPS was going going down at same price without offering less as usual knows something good...GLTA longs ; I am happy even I may loose trading shares on covered CALLs my core holding is gaining...Also naked in Puts are going to push me.
You don't have to worry too much...it was trade long time ago and it may be naked PUTs. When I am bullish to flat...and have margin reserve...I sell PUTs to gain option fee.. so you can not tell individual was bullish or buying PUTs for protection against down draft....I believe $37.50 Sept. puts at $.60 fee was just scalping for almost freebie money ...If one was serious about protection ,you don't select protection that far down....$37.50 ... serious experience large holder of stock will pick strike closer to going price ...maybe $45 or $40
INCY is no longer favored stock for retail buyers..... past several days institutional investors are so scare to buy with technical indicators at very bearish territory and background news are highly bias toward keeping cash....I know pros are on vacation or too scare but I believe biotechs offers extremely good opportunities now....It may sound crazy but I am maxi out buying biotechs on margin ...so I have to sell some covered CALLS to pay for interest expense