Hi all,
Newest addition to the portfolio is Wyeth. Buy 300 WYE @ $44.06 and sell 3 WYEFI (JUN08 $45) for $1.10.
Wyeth is a huge pharma company with a finger on many different biotechs. I am primarily interested in them because of their collaboration with Elan on their Alzheimer's drug AAB-001 that will have their Phase II results released this summer. Added plus -- Wyeth has a decent dividend too!
Leaves us with:
2000 SUPG (-20), 2000 NBIX (-10), 400 ELN (-2), 2000 DNDN (-10), 1200 TASR (-12), 2000 ARNA (-20), 300 WYE (-3)
Cash = $35660.71
Total account = $102,078 and a 2.08% return so far since mid-May 2008.
Tomorrow: some extra info on covered calls -- and how to make this strategy even safer (I know I tend to go for the volatile small caps and biotechs).
Regards,
Trond
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