Port 24 update

I finally had a chance to revisit the Port, and spent a while cleaning it up.

MITI was bought out, CLSN and DCTH had reverse splits (boy do I wish I'd sold those prior to the mothball!) and a few calls expired worthless.

This morning I check out the prices of CLSN, DCTH, and PIP and "sold" them at the bid.
Just now I couldn't resist and picked up 2000 shares of VHC.

So the current Port looks like this:
Cash $27,780.30
1500 ARQL
1200 BTX
2600 CLDX
2500 CORT
1100 EXEL
7000 NNVC
6000 PPHM
1600 SGMO
2000 VHC
1800 ZIOP

Total worth (as of this moment) is $213,642.30.
That is a return of 113%, and annualized to about 16% over nearly seven years. Almost 4  of those years, the Post has been neglected to a sorry degree, too! Not bad.

I'll be more active now, and utilizing calls as usual to pick up additional income.

Good luck to all portfolios in the days ahead!

PZG sell

Paramount Gold & Silver had a modestly good PR today and I've decided to sell the 3,600 shares the Port24 holds (at $3.71). That gives me an 18% return over the five months I have held.

I still like PZG but will look to re-enter somewhat lower ... the next news is not expected for a few months and I suspect it will trail down again.
Others I'm considering for inclusion at today's prices are more SGMO or PIP. VHC and ZIOP are also contenders.

Regards,
Trond

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

Port 24 update

With the cash from the recent exercise of ONTY burning a hole in my pocket, I had some decisions to make.

NBIX is trading at a good price for a buy, but I already have nearly 10% there.
I was tempted by some more DNDN but I think this summer will see a better buying opportunity.
CLSN is a recurring temptation too, but I have the largest position there (and in my real money accounts) so I'm avoiding that too.
LXRX was also a possibility, but they are not optionable, and I also own NNVC in the Port that does not trade options.

So I decided to buy 2500 PIP and 1500 ARQL.

PIP is embroiled in a lawsuit against SIGA for licensing rights to a drug. From my readings it appears they have a very reasonable chance to win here - at $3.70 this is going to either be cut by a quarter or nearly triple. Much riskier than I typically would want for the Port, but I like the odds and also own this in real money accounts. You can research recent articles by James Altucher about this stock.

This is the second appearance by ARQL in the Port24. In September of 2008 we bought it at $2.91 and then eight months later said adieu to it at $4.43. Now I'm buying again at 6.70, in the expectation of a decent runup through the fall for trial results next year.

Surprisingly, I am not selling any calls right now. The premiums just are not there - we actually are wanting some shakeups in the market - volatility will move the premiums up.

Still have $9,599.35 in cash, and the positions listed below. I've dropped to a 17.5% annualized return, but at least against a negative 0.6% comparable to the S&P and a 5.6% against the Nasdaq.

2600 CLDX (0)
1200 BTX (0)
2000 NBIX (0)
7000 NNVC (0)
1500 ARQL (0)
1600 DCTH (0)
3600 PZG (0)
9000 CLSN (0)
2000 MITI (0)
800 SGEN (8)
2500 PIP (0)
1600 SGMO (0)