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 Taser. Show all posts
Showing posts with label Taser. Show all posts
Friday, July 11, 2008
Thursday, June 26, 2008
June Update for Port 24
June expiration came and went -- hoo boy do I wish I hadn't been conservative on the last batch of Elan calls!
The good news is that I made just over $6,000 in call premium -- although some of that is through future expiration months. I made around 3.4% for just this month, easily surpassing my 2% goal. Most of my Elan and all my Wyeth was called away.
The bad news is that Taser and Sangamo lost quite a bit of actual share price. So now I have to make the decision whether to hold, and sell calls quite a bit out-of-the-money (for much less than my 2%/month goal), wait to see if they gain some back, or simply sell for the loss and put the money to work in a hopefully better place. I haven't decided for sure yet, but I am fairly sure I'll be holding on to Sangamo and selling the Taser.
With the money raised by the exercise of Elan and Wyeth, I have today bought 500 Cardiome @ 9.19 (-5 @ $1 at $10 July strike) and 400 Nvidia @ 19.28 (-4 @ .70 at $20 July strike).
Regards,
Trond
The good news is that I made just over $6,000 in call premium -- although some of that is through future expiration months. I made around 3.4% for just this month, easily surpassing my 2% goal. Most of my Elan and all my Wyeth was called away.
The bad news is that Taser and Sangamo lost quite a bit of actual share price. So now I have to make the decision whether to hold, and sell calls quite a bit out-of-the-money (for much less than my 2%/month goal), wait to see if they gain some back, or simply sell for the loss and put the money to work in a hopefully better place. I haven't decided for sure yet, but I am fairly sure I'll be holding on to Sangamo and selling the Taser.
With the money raised by the exercise of Elan and Wyeth, I have today bought 500 Cardiome @ 9.19 (-5 @ $1 at $10 July strike) and 400 Nvidia @ 19.28 (-4 @ .70 at $20 July strike).
Regards,
Trond
Friday, May 23, 2008
Portfolio 24 additions
For the next few days I'll be adding a bunch of positions to the Port 24 -- so if you are reading this and don't care about the Port... my apologies in advance! To hit my target of 2% a month, I need to be nearly fully invested and thus the continuous updates.
I want to remind you that I AM tracking commissions behind the scenes -- if anyone wants to see exact numbers please comment or email and I will be happy to provide them. What I am doing is logging on to my brokerage account, getting the ask price on my stock, and then going to the option and getting the bid price. I am not doing enough activity to really move the market, but obviously my real world results may be off by a cent here or there. The nice thing about the real world is that I am more patient -- I actually enter a market price on the stock to assure myself of getting it and then add a limit buy at the next higher 5 or 10 cent increment and just wait for it to be eventually filled during normal daily price fluctuations. That can add another .5 to 1% returns just by being patient!
I just added:
1200 TASR at $7.20 and -12 QURFU (Jun08 $7.5) at $.30
2000 ARNA at $4.95 and -20 UGGFA (Jun08 $5) at $.25
I like Taser as a covered call stock because it is so volatile. I like the product itself and the continuous lawsuits against the company does not scare me. You just need to be patient with this one! We're on a recent dip so it's a perfect time to buy.
Arena has an obesity drug that it is probably going to be partnering soon (read -- a couple months more). Partnerships are where young biotechs can hit the motherlode -- cash up front, milestone payments, royalties, etc.
We're at:
2000 SUPG
2000 NBIX
400 ELN
2000 DNDN
1200 TASR
2000 ARNA
Cash: $48,566, and stocks worth approx $53,008, for a total of $101,574 after less than a month. Most of the stocks are underwater right now.
Regards,
Trond
I want to remind you that I AM tracking commissions behind the scenes -- if anyone wants to see exact numbers please comment or email and I will be happy to provide them. What I am doing is logging on to my brokerage account, getting the ask price on my stock, and then going to the option and getting the bid price. I am not doing enough activity to really move the market, but obviously my real world results may be off by a cent here or there. The nice thing about the real world is that I am more patient -- I actually enter a market price on the stock to assure myself of getting it and then add a limit buy at the next higher 5 or 10 cent increment and just wait for it to be eventually filled during normal daily price fluctuations. That can add another .5 to 1% returns just by being patient!
I just added:
1200 TASR at $7.20 and -12 QURFU (Jun08 $7.5) at $.30
2000 ARNA at $4.95 and -20 UGGFA (Jun08 $5) at $.25
I like Taser as a covered call stock because it is so volatile. I like the product itself and the continuous lawsuits against the company does not scare me. You just need to be patient with this one! We're on a recent dip so it's a perfect time to buy.
Arena has an obesity drug that it is probably going to be partnering soon (read -- a couple months more). Partnerships are where young biotechs can hit the motherlode -- cash up front, milestone payments, royalties, etc.
We're at:
2000 SUPG
2000 NBIX
400 ELN
2000 DNDN
1200 TASR
2000 ARNA
Cash: $48,566, and stocks worth approx $53,008, for a total of $101,574 after less than a month. Most of the stocks are underwater right now.
Regards,
Trond
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