Professional money doesn't buy because of a television commercial, but it has been proven time and time again that they will sell it if they think the pop has been too much, too fast.
Yep....put em on television and scream "buy buy buy" and there are always Muppets that will do so. It's not rocket science. Musical chairs is always fun until you're the one without a chair. :)
@newgrad...if you did indeed get lucky enough to have bought today...I'd suggest selling it in the next 10 minutes.
Typo....I mean he "couldn't" have made anywhere near the $250,0000 headline amount mentioned by simply selling the options. They did go out ITM so it could have been a big buyer that intends to exercise them and investing a lot more dough. 50,000 shares would be about $1.5 million, not that out of the question for a big buyer. Still a goofy way to approach it though.
I don't trade this thing but I saw the headlines about the "fishy" options trade. The stock gave up over half it's pop almost immediately and the options only trading about 27 today, going out at about a buck. OI is listed as over 600. You wonder if they didn't let some expire because the gig was up? You wonder why some people will risk jail time for so little money, I mean he could have made anywhere near the headline $ 250,0000 amount. But hen again, some people will risk going to jail for $25.
Ideas? Comments? Speculation?
One thing ol #$%$ learned years ago.....shorting Dr Phillip Frost is financial suicide. 22% short interest?
Wow...I haven't thought about Dr Frost in years, I didn't know he was back @ it. He made me some of my first real money in the stock market. I was just a kid. I grew up in Miami and one of my first jobs was in a building close to the building that housed the headquarters of Key. I was starting to get into the stock market, I did some research (you had to go to the library and read S&P reports way back then..& even use a rotary phone to call your broker :) but I started buying it. When he sold it to Schering-Plough, I held those shares for awhile and eventually sold em for some nice gains, they paid a nice dividend too.
When he started Ivax (It's headquarters was actually in the exact same building as Key), I owned that for a bit too, but it traded on the AMEX and I lost patience with it after a bit.
GL with this one....I might just have to look at the financials just for nostalgia's sake.
He's gonna be the star of the next episode of American Greed.
The latest reported short position was about 10% of the float, but it has been rising. Even though it is summer and you expect low volumes, volume has been on the low side for this issue. Personally I think the big boys have just found other places to play for the moment. Many of the top rated bio's, including the IBB index, have already returned to their April highs.
The chart still looks pretty bad, but so did Puma's until yesterday. :) The chart is slowly improving. The nasty 100 point drop in just a week or so back in April was followed by the secondary offering and the delay in releasing the July data, and then Janet Yellen opened her pie hole and kicked the bio's again. Since when did the Fed's mandate include stock/sector picking? So it's had some major headwinds.
This stock is not for the faint of heart, it can and does move quickly in both directions. If you are a trader and can stay on top of it, there is money to be made. You can still get daily moves of 3-5%. It fell from the 400's to the low 200's and then rallied back to almost 300, and then back down to 200. The MM's will gap it up, especially in the mornings if they can, but lately there just isn't any sustained buying. It gives back it's gains pretty quickly and hasn't closed well for some time.
With yesterday's monster bio rally I'm surprised it didn't rise even more, but again, no volume. The options pits don't indicate any real movement either, and with the volume so low and the spreads so ridiculously wide, it's almost impossible to hedge a position of any size.
Just some thoughts....take it for what you paid for them. I'm getting sleepy again, back to bed for a bit.
As of March 31, 2014, Intercept had cash, cash equivalents and investment securities available for sale of approximately $134.1 million, compared to $144.8 million as of December 31, 2013. In April 2014, Intercept completed an underwritten public offering of 1,000,000 shares of common stock, of which 600,000 shares were sold by Intercept and 400,000 shares were sold by certain selling stockholders, at a public offering price of $320.00 per share. Intercept received net proceeds of approximately $183.4 million, after deducting underwriting discounts and estimated offering expenses. Intercept's cumulative cash, cash equivalents and investments securities inclusive of the proceeds from the April 2014 public offering are expected to fund operations through 2016.
Yea......Jon N on CNBC said there was a big buyer of the 70 strike calls that are up 3,000% today. Somebody's gonna be on the next episode of American Greed.