Based on today's pop I'm thinking we hit $35 this ex. Any thoughts?
(Picked up a bunch of Oct $30 Calls this afternoon. Looking for a 40% ROI in a week.)
Sentiment: Strong Buy
I also have Lilly on my watch list, and in spite of fundamentals it has surged in the last month. The sector seems to be in accumulation mode. I would not sell BMY more than three days before xd. And even at that the xd adjustment might not slow it down and it will even be higher by opex. Methinks sell half on xd eve, and the rest just before opex. It could pick up two points between xd and opex.
Thinking more input from roym, ddjim, and Angrad here.
And many thanks to Doc for putting this on our plate.
Hey, Doc, that 1% of gain I dedicated to your favorite charity could hit 1k by April 3.
I don't know any better way to say Thank You. Keep doing what you are doing.
Way to go Doc on passing your boards.
I watched you guys make some good returns on BMY these last two cycles, I decided to jump in on this one. Put in a order for some Oct$33 calls at $.80. Will see what happens. I'm heading off to Spain on Oct 4th and won't be back home until the 19th. Will have my laptop and will be able to monitor things along the way. This will be my only position while I'm gone.
GL2US and go BMY.
Based only on the history, should BMY open on Monday at the current price (33.61), the historic range from Monday's open would be 34.15 to 35.06, with the average at 34.63. In light of the new information about Eliquis, 34.50 may be a more realistic target. Stay tuned.
I'd love to see it go higher.
How about ETP Jim?
Quite the bounce off a terrible stretch of lower lows. I am looking at the TA on my Fab Five, and even though they are trading at the top of their ranges(except ETP), I am still going to buy them, come Oct 1st and 2nd, and hold till the day B4 their EX's.
Game theory combined with their loaded history argues too strongly to do otherwise. It would be like after the coin turns up 95 times heads, for it to start turning tails to knock you out. This isn't 50/50 odds when you are running toward EX, on these particular 5. I am looking forward for the games to begin.
Btw, got the notice today that I passed my boards, so I'm good to go for another 10 years. If the black hearse hasn't pulled up to my office's back door by then, I guess I'll just quit...I hope by then I'll be consistently making more money, on options, than what I make at work. That's the plan anyways....Need more months like this one and I'll be more than good to go.....we'll see.....
Hi Roy ( = Right now I'm holding 2,777 BMY October 2012 $33 Calls which I bought for 0.52 last week. I'm planning to hold them Long till BMY hits $34 and them I plan to dump them for 1.00 or more when we reach $34. The rest I have tied up in EPD, CQP, ETP, and AGNC $32 December2012 Calls (Deep in the money) which I plan to dump at the height of the AGNC Earnings Announcement run up that is coming soon. I wish everyone here good luck.
Sentiment: Strong Buy
I don;t often offer a master a suggestion, but BMY could run much higher than 34. What if you sold half at 34 and let the rest run to xd sell off one half of the remainder and hold the remaining qoarter to opex? If it runs much higher than the 34 termination, as the sector is inclined to do, you can always donate 1% of your gain to Doc's favorite charity.
Forming a diffferent version of the 1% club here.
By the by, you are an inspiration to me.
Good Luck Roy
I hope we see a repeat of last quarters high, I made the wrong call then and bailed too early. Well I am taking that lesson into this quarter.
I rode several hundred contracts last month, rolling the strike price, and taking profit from 31.50 to 33. I then went all in a week ago and am holding currently holding 1500 Oct 34 calls at an average price of .30. It was a tough week to see it sit at 32.90. I will be happy to see 34. If we hit 35 and above, I will have to travel across the state to Spokane to have Doc correct my vision for all the dollar signs I will be seeing.