Jacosa ; Used your idea today Sold INCY $67.50 Jan.2016 PUTs ;99 contracts at $9.50 specialist hesitated to deal but finally gave in ...$9.50 for one yr waiting on $67.50 strike to me is real steal ,I will just forget it till next new year...Thanks again for good ideas
I think 68 area is likely rebound area , unless institutions bail out....which is low probability with recent progress report on RA & cancer drug deals with major pharmas..... damage done by ABBV and EXP.SCRIPT on biotech sector should be almost priced in ....just no one is buying stock until next year...no rush attitude is everywhere...
Also other factor selling $12 &$15 cover Calls adds hugh reserve into account immediately but defer 2014 capital gain tax to 2015
Qui, PS yesterday after ACHN news on data release..I covered both $ 11 &13 Puts....since it went almost worthless to cover...Escaped from burns today
Qui, I did not catch trade price but appears BUY sides but does not make any sense ..It make more sense as sell to 2015 tax gain ..locking in at today price..so this person used excessive low strike prices ..It;s good bet they will be taken ..I strongly believe it was covered Call sell side trade.. This strategy make lot more sense when dealing with 1.4 million shares.
wait for few days , more accurate news will come out its panic selling without any DD ,...Look ABBV not much upside..Truce and fair evaluation from smart nalyst will come out in few days
iam just holding incy longs and sold some covered calls 2 weeks ago for JAN Feb Juncall almost 2 month go ......2 more added ACHN Puts for next two week ends worked out GREAT.. ACAD Should be
ok with pending events with good promise. today selling puts is ok ,...gild is shaking everyone in biotech
Rickz; Sorry to tell you ,regardless of ACHN out come, you just made hugh mistake....successful long term biotech investor should never switch out of one of the best biotech stock because of loose to put money in small
relatively unknown ; it's bad investment philosophy to follow ,you will eventually loose all your investment funds. Stay 90% only in quality proven biotechs and use winning money to speculate with stocks like ACHN...If you continue trading like one you just described, eventually you will be wipeout. Remember unless you study deep into stock investment,stay out of biotechs,it's one of more volatile sector and reserved for experienced and well funded investors
in real world of science, what was said few month ago is not cast in concrete..in this case , probably data analysis is taking more time...that is reasonable in science world...just give them more time...I reset my options today for several more weeks just to cover all time phase
nice comeback with heavy volume at last 15-20 minutes...hard to tell what was feed with artificial activities due to option expiration balancing. but nice comeback...if you look trades microscopically, it was very erratic ups & down by 10-15 cents no orderly trade...any how it was yr end option clean up at rush minutes... Over all biotechs were impressive with good interest from institutions...everyone have good weekend & start of long holiday off period...for those traveling ,stay safe and good Xmas
Best solution is to announce delayed data release until early January...Not fair to all participants; winners or loosers doing Holidays
U R welcome, I enjoy helping others on this board..we have great contributors... JACOSA is one special person that help me lot in decision making..lets all share constructive informations Good day to ALL
qui,yes 100 incy jan 70 was my order,got 2.55 ; achn jan 2nd $13 got $3.20, acad Jan$29 :$1.25....today after Yellen news release..volatility is down ,so does option fees..In option strategy, opportunity is when volatility is high and fees at maxi, great time for sellers...but must analyze situations fast and make splite second decision before specialist pull fees down. Now I see Jan 70 INCY puts are not even salable; no takers. that is example of making fast decision.
I decided to sell ACHN Jan 2nd since $13 PUT was paying $3.20 yesterday morning I see worst case is clinical data coming in none decisive to say good or bad....meaning stock will pull back only slightly from emotional initial selling ..$3.20 gives good pad may be not all but won't hurt me badly...Good risk reward to me..
Qui .Yesterday I sold many PUTs ACAD, INCY, ACHN.. I will get exact ones for you later..I am trading like crazy this morning ..mostly longs ..tomorrow many PUTs will expire worthless I sold ACHN JAN 2nd $13 PUTs for $3.20 ,yesterday morning good bonus for 2 weeks