Neurocrine calls

NBIX had a nice run this week and it is time to sell some $8 calls. The June's do not have enough premium to make them worthwhile, so we'll be selling the July $8s for $0.25 a share. With today's price $7.76 (and the purchase price in January at $7.30 and a total of $0.70 of option premium gained now) we'll have made about 14% in six months (assuming a close in July above $7.50). If exercised, we'll have a 19% gain.

I still have $10K in cash to buy something else; I would say right now Celsion would be a buy if I did not already have a stake. Other possibilities are Sangamo, ArQule, and Micromet - but I already have positions in those too. I will sit on my hands until something extraordinary comes along.

Regards,
Trond