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American Capital Agency Corp. Message Board

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  • james_reversal james_reversal Jan 15, 2013 10:59 AM Flag

    option play on biotech..

    I, too, made a lot of money w/ dndn. I traded in and out of dndn (stock) for a few years, always to the long side. I finally struck pay dirt @ earnings in Aug, '11. Puts were extraordinarily cheap for the volatility of a biotech going into earnings. Bought 200 Aug 30 puts @ 0.29 on Aug 1 when the stock was @ $36. Earnings were reported a/h on 8/3, and the stock collapsed, opening the next day (8/4) around $12. Sold the puts for $18.35. If DNDN ever recovers, I plan to be back on the short side.

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