NaughtyPines

SOLD SRPT AUG 26TH 35 CALL

NASDAQ:SRPT   SAREPTA THERAPEUTICS INC
4 months ago
... for a 2.85 ($285)/contract credit.

This will complete an Aug 26th 10/35 short strangle worth 4.15 in credit ($415)/contract, which I'll shoot to take off at 50% max profit.

Because I already had the 10 short put on, this doesn't cost me any additional buying power. This will also give me some protection to the short side, since I think that this is more likely to implode than explode. Naturally, I hope to be out before any of that "splosion" occurs.
3 months ago
Trade closed manually: And ... out my last setup in this "wicked illiquid" underlying. Out for a 3.13 debit, so $99 net profit per contract (4.15 credit - 3.13 debit - fees/comms).
staraman
4 months ago
It's going to explode to the upside very soon. Better to reload on solely on calls.
Reply
NaughtyPines staraman
4 months ago
It's kind of a roller coaster. Don't like seeing that 8 to the left ... .
Reply
staraman NaughtyPines
4 months ago
Two options with biotech, trade small momentum or do a ton of research and go all out.
Reply
NaughtyPines staraman
4 months ago
You're right about the research; trading this stuff decently requires more "work" than I usually like to do. Biotech's not for everyone, since it requires a bit of scientific understanding that's not ordinarily present in other stock trades.
Reply
staraman
4 months ago
Sarepta is going to explode to the upside soon. It's better to be holding calls and playing for the real money than the little stuff.
Reply
NaughtyPines staraman
4 months ago
Well, good luck with the long calls. It could just as easily fail in epic fashion. This is a one trick pony drug company with a flawed trial under its belt without a control.
Reply
staraman NaughtyPines
4 months ago
That's how it 'seems' to all the sucker retail shorts that piled into the trade. Smart shorts have been covering... lift off soon!
Reply
NaughtyPines staraman
4 months ago
I was in around that huge low, but bailed a touch early. Guess I'm just betting on it sticking between 10 and 35 running into expiry, but also rooting for the success of this drug for the kids involved in the study. Last FDA hearing was somewhat gut-wrenching listening to parents' stories.
Reply
staraman NaughtyPines
4 months ago
Sure was
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out