Here is my take.
This will be the third year of "No sell in May and Go away" that followed three years of "sell in May and go away".
I think you want to be 100% cash by 2017. Why? Ten year cycle...1987, 1997, 2007 and 2017
18:07 $ 1.50 High 33
17:04 $ 1.38 2,900
16:42 $ 1.37 Low 200
16:32 $ 1.41 6,147
16:00 $ 1.41 12,640
Read more: http://www.nasdaq.com/symbol/pphm/after-hours#ixzz3byKyiMPe
as posted before
sold Jan 2016 $130 calls for $11 - $12. If you add the AAPL quarterly dividend = 9.6% return between now and Jan 2016.
Of course, their giveaway would be $141- $142
HEDGE FUNDS can make more money with a flatline stock price that moves in a very tight range
do not stray from this rule
remember if you add the benefit of interest free cash...what is the cost of money nowadays?
Most of the time, you can trade up taking a paper tax loss but actually pocket a further real cash gain.
I recapped the Jan 27 option play....I lifted my giveaway from $119 to $139 but took a paper tax loss when I closed out sale of the lower strike price ($110)..of course this also meant giving back some of the tax deferred cash...$9 of the $19 pocketed on Feb 4.
That recap is in the archives