Sorry that it had to end this way for many. I'm really upset most of all for the MS sufferers who will now have to wait again before having Tysabri available. The Interferon combo might be to blame, or possibly nothing at all will come of it.
This has cost me dearly, going from $150K profit to over a $400K loss. Will be refinancing the house and delaying retirement plans. Hope others were able to do better than me in that regard.
A tough pill to swallow, but the sun will come out again tomorrow and as long as breath is in your body there is no reason to surrender.
Well said posty. I am in a similar sitution to you. The retuirn on my investmnet fund has been reduced from 45% per annum to 10% per annum after today over the past two years. I guess I cant complain with 10%, but it sure took a lot of work to have this happen to me. One lesson I have learned is the danger of writing puts; make sure you can stand the pain when it comes, if it comes. Well today it came.
Good luck amigos
We have traded ELN options for about 2 years, including selling Puts.
Every time we sold a Put, we bought a lower priced Put as protection. This way you know your total exposure.
P.S. take a look at the volume in the 06/07 Leaps today.
Sorry for your loss. I took a small one on PDLI since I am diversified. I do not just own bio tech, I have shares of oil and gas stocks too which have been doing fine.
I would strongly recommend to anyone trading/investing to not to allocate more than 10% of their portfolio to a single stock, 2.5 to 5% is a much safer allocation.