Let's see where we're at, about two months into the Portfolio.
On 7/3/08 I had bought 400 Syneron for 15.04 and 400 more Elan for 33.70. So, I now have the following stocks (number in parentheses are the number of calls sold against them)
2000 SUPG (-20), 2000 NBIX, 600 ELN, 2000 DNDN (-10), 1200 TASR, 2000 ARNA, 1000 SGMO, 500 CRME (-5), 400 NVDA (-4), 400 ELOS
Cash balance is at $13,518.90, and the total market value is $100,875.92. That is a .87% return so far, which is obviously below my target. In my defense, I still have a number of July calls to sell -- which I hope to do today (time permitting at lunch!).
Supergen, Nvidia, and Taser are my biggest disappointments so far; Supergen missed on a clinical trial for Dacogen, Nvidia had a horrible quarter, and Taser lost the first lawsuit (out of 71 verdicts so far). Honestly, I will probably buy back the Supergen calls at a profit, and sell Supergen and Taser at a loss. I will make a final determination next week...
Elan is the biggest winner so far, having bought two sets of Elan that I've kept at $27.30 and $33.70, and the price now being $36.82. I am looking to crest $40 at the end of the month and depending on a spike, if any, following the ICAD results I will probably sell more calls on these shares at the next-higher $5 exercise price.
Regards,
Trond
Showing posts with label SuperGen. Show all posts
Showing posts with label SuperGen. Show all posts
Friday, July 11, 2008
Thursday, May 15, 2008
Portfolio 24 - first trade
Okay, we're in business.
First trade is buy 2000 SUPG @ $.252 and sell 20 calls (UQGGZ, Jul08 $2.5) at $.55.
Notice that these are already in the money by $,02, so I really only make $.53 profit instead of the $.55 the calls sell for.
I like SuperGen because they already have a product they are selling, and yet with a good result from their current European clinical trial they will gain a little market share. Conversely, a bad result is already factored into the share price. Basically, a 20% gain in two months if exercised, and downside protection to $2.00.
Started: $100,000. Bought 2000 SUPG at $2.52 = 5040 + $7 comm = 94953. Sold 20 UQGGZ (Jul08 $2.5) at $.55 = 1100 - 32 - .05 (sec 31 fee) = 1067.95, for a balance of:
Cash: $96,020.95
2000 SUPG
20 UQGGZ
Regards,
Trond
First trade is buy 2000 SUPG @ $.252 and sell 20 calls (UQGGZ, Jul08 $2.5) at $.55.
Notice that these are already in the money by $,02, so I really only make $.53 profit instead of the $.55 the calls sell for.
I like SuperGen because they already have a product they are selling, and yet with a good result from their current European clinical trial they will gain a little market share. Conversely, a bad result is already factored into the share price. Basically, a 20% gain in two months if exercised, and downside protection to $2.00.
Started: $100,000. Bought 2000 SUPG at $2.52 = 5040 + $7 comm = 94953. Sold 20 UQGGZ (Jul08 $2.5) at $.55 = 1100 - 32 - .05 (sec 31 fee) = 1067.95, for a balance of:
Cash: $96,020.95
2000 SUPG
20 UQGGZ
Regards,
Trond
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