hungry_hippo

SUPN Earnings

Long
hungry_hippo Updated   
NASDAQ:SUPN   Supernus Pharmaceuticals, Inc
Looks like a bull flag and possible gap fill. If earnings are decent, it should have no problems filling it since >100% of float is owned by institutional holders. It's trading on borrowed shares.

Small play using my WP profits. March 37 calls. Remember, earnings are always a crap shoot.
Comment: Earnings look good, up AH, will probably take 2 or 3 days to get above $40. Hopefully the market doesn't eat ##it later this week, so this thing can go up.
Comment: Bid is over $39 already AH, looks like we just hit $40 on the ask, lol.

I think this might be a good one to hold for a couple of days to $44...
Comment: 4.8M shares short interest 800k daily volume, 103% of float owned by institutional holders. Looks like the shorts are going to be paying musical chairs to cover.

Definitely holding until Friday or $44, whichever comes first.
Comment: Looking good, target is $44 - 46 area.

Looking over the numbers, this stock actually looks pretty good, I was gonna put some in my $401k if it dipped this morning.
Comment: Put a few shares in my 401k under $40.5, will double up if it dips tomorrow under $40. Quite frankly a lot of stocks are topped out, and this one is not. No short covering yet which is weird. Volume is relatively light considering the number of shorted shares.
Comment: Would not surprise me at all if this retests $39.5 support (tomorrow?) before it heads up to $46. Not too worried about it since it's trading on borrowed shares to begin with.

Adding more below $40, selling at $46.
Trade active: Still holding on. UNH tanked today taking the healthcare sector with it. Looks like it's done tanking but the sector might be weak for a while. Will see where we're at tomorrow/Monday and make a decision to hold or bail.

Would have been nice to have a straight follow through, but not every stock is a Ponzi scheme like Wayfair.
Trade closed manually: I'm taking the rest of the day off, and this doesn't look that great. Flipped the calls.

There's definitely potential here, but look at what the market is doing...
Trade active: The market stopped tanking healthcare stocks, in for a couple of days to grab a buck or two.
Trade closed manually: Sold it on open, market looks weak
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