BIIB Options

You are absolutely amazing!

At close today, your fly is 11.2 mid! May hit 15 at expiry tomorrow.

 

Final on the BIIB butterfly: @ BIIB close yesterday @$296.83, the fly is worth $13.17.

 

Good Job

 

@destriero is amazing. As for my trade, it had a nice profit if I got out prior to the news release, but I didn't.

The difference between a pro and an amateur: he knew what he was doing, I was gambling.

 

@ironchef I may have skimmed too quickly, but was this a 30% gain on the position?

 

I have to say these are the types of posts that keep me coming back to Elitetrader. Thanks to @ironchef and @destriero.

The first post got me to looking at these options which I wouldn't have to begin with. Made a little money with them as well. Then the posts on how others would play it I find interesting as well.

 

His cost ~$5 to set up, he could exit @ ~ $13 for a profit of ~ $8 on this trade, all in a matter of a couple of weeks!

 

I am going to try my own butterfly on BIIB.

 

just curious, what did the call leg by itself yield? Thx

 

I may have the last laugh over @destriero's butterfly on this one. BIIB share went up $66 a share today.

As of this morning very profitable and the Alzheimer's drug's pending FDA decision is yet to come. This pop is from a favorable pending patent decision.

I got lucky hanging on to the options instead of bailing out in Dec.