Port24 update

I bought 2,000 NBIX just now for the Port, at $7.30. I am going to wait to sell calls here until it bounces back somewhat. The Feb $7.50s were attractive at $0.55, equivalent to a 7.5% return for 1.5 months, but I think I can do better.

I also bought back the CLDA calls to close, since the stock has dropped. As we approach the 1/22/11 PDUFA date I expect the price to rise back to where I bought it.

Port is now 11.1% annualized return, with $9,292 in cash still and the stocks (calls) shown below.

600 CLDA (0)
400 DNDN (4)
1600 ELN (16)
7000 LXRX (0)
2000 NBIX (0)
7000 NNVC (0)
7000 ONTY (70)
2500 SGMO (25)
1600 DCTH (10)