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Elite Pharmaceuticals, Inc. Message Board

no_blinders 3 posts  |  Last Activity: Jan 26, 2016 10:36 AM Member since: Jul 7, 2006
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  • Willing to take a gamble just ended up buying 100K shares at $4K.
    Do your own research and don’t rely on these “talking heads” As long as this board babbles about bankruptcy, I’m in.
    Happy investing!

    Sentiment: Strong Buy

  • Reply to

    Reuters Upgrades SPN to OUTPERFORM 12/19/15

    by no_blinders Dec 19, 2015 7:54 AM
    no_blinders no_blinders Jan 26, 2016 10:04 AM Flag

    It’s working for me.
    I knew the Brent 1/20/16 futures were in play with huge naked shorts out there in the energy sector, a put-to-short ratio over 3 to 1. I saw an opportunity here in sound companies like SPN IMHO.

    Here’s what I did:
    A. On 12/18/15 I invested $6,480 and bought 500 shares @ $12.96 … My objective: future dividend and call income
    B. On 12/18/15 sold 5 2/19/16 $15.00 (Covered) Calls at $4.25… Net proceeds of $2,110
    C. On 12/18/15 bought 30 2/19/16 $10.00 Puts at $.15 costing $460
    D. On 1/20/16 sold my 30 2/19/16 $10.00 Puts at $4.50 Net proceeds of $13,490 and then
    E. On 1/20/16 bought an addition 1500 shares of SPN at $8.45 cost of $12,685.

    Now own 2,000 shares with under $4,000 net-out-of-pocket or risk exposure: annual dividend at $640 16% … which I think will hold based on current put/call ratios and insider buying.
    Not writing (selling) any calls see a nice upswing in the next few quarters. I would still be buying here although the call and put spreads have severely diminished.
    Happy investing

    Sentiment: Strong Buy

  • Started a new position yesterday and plan to add more Monday. I’m in.
    A buyback announcement could spark a nice short covering rally.
    Merry Christmas Longs.

    Sentiment: Strong Buy

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