So, to positioning. SentimenTrader’s Goepfert describes the chart below as the most remarkable he’s seen in his career. It shows the net dollar value of premiums that institutional traders spent on buying calls to open minus buying puts to open. The lower the blue line, the more they spent on puts. Source: SentimenTrader He explains that, last week, traders of fifty or more contracts bought to open nearly five million put options, spending $8.1 billion on those contracts, almost double the amount of any other week in 22 years. ....... Everyone is protected. Protected from making profits.
Ionis stock climbs 8% as Morgan Stanley upgrades to Overweight on outsized risk-reward Sep. 09, 2022 1:00 PM ETIonis Pharmaceuticals, Inc. (IONS) Ionis Pharmaceuticals (NASDAQ:IONS) rose as much as 7.8% to its highest in over a year high on Friday after Morgan Stanley upgraded the stock to Overweight from Underweight, citing outsized risk-reward heading into near-term catalysts. Much of IONS' current valuationis attributable to cash on hand and net present value of Spinraza royalties, which the brokerage said are largely de-risked. "IONS has an attractive slate of catalysts over the next 12-18 months that are being assigned relatively little value by the market at these levels," analyst Andrew Galler wrote in a note to clients. "Recent chemistry modifications as well as improved tissue targeting may finally position antisense drugs as ready for prime time," he added. Near-term catalysts includedonidalorsenin hereditary angioedema,fesomersenfor end-stage renal disease patients on hemodialysis, and IONIS-FB-LRx in geographic atrophy from the GOLDEN study. Morgan Stanley also raised IONS' price target to $57 from $30, implying potential upside of ~29% to its last close. Ionis is often mentioned as a take out candidate<----
I am up 20% for the year suckers. Year To date try 35%!!!!!!!!! How can this be true for any stock.......... Anybody want to guess? We recently talked a bit about it....
$28------> $24.84-------------> $28 Fixed that for ya. I told ya so Stoney... should have taken 28.60 earlier.
HUGE AFTER HOURS VOLUME ON FDA APPROVAL SPPI Spectrum Pharma Get in Stoney! $1.40 in the ah's Everyone went home and missed it... it'll double Monday. __________________ Spectrum Pharmaceuticals Receives FDA Approval for ROLVEDON™ (eflapegrastim-xnst) Injection First novel Long-Acting GCSF (LA-GCSF) product approved in over 20 years ROLVEDON™ developed using proprietary LAPSCOVERY™ technology with a differentiated molecular structure and proven safety and efficacy profile Commercial team ready to launch with product available in the fourth quarter September 09, 2022 04:19 PM Eastern Daylight Time BOSTON--(BUSINESS WIRE)--Spectrum Pharmaceuticals, Inc. (NasdaqGS: SPPI), a biopharmaceutical company focused on novel and targeted oncology therapies, today announced that the U.S. Food and Drug Administration (FDA) has approved ROLVEDON™ (eflapegrastim-xnst) injection to decrease the incidence of infection, as manifested by febrile neutropenia, in adult patients with non-myeloid malignancies receiving myelosuppressive anti-cancer drugs associated with clinically significant incidence of febrile neutropenia. “ROLVEDON’s approval marks Spectrum’s transformation to a commercial-stage company with the opportunity to compete in a $2 billion dollar market, and offers a unique value proposition,” said Tom Riga, President and Chief Executive Officer of Spectrum Pharmaceuticals. “This approval is a significant milestone for our development team and collaboration with Hanmi Pharmaceutical. On behalf of Spectrum, I would like to thank all of the patients, families, health care providers, and our own team members for bringing this goal to fruition.” “Our commercial team is in place and ready to engage key stakeholders immediately,” said Erin Miller, Senior Vice President, Sales & Marketing of Spectrum Pharmaceuticals. “Equipped with extensive long-acting growth factor market experience, customer connectivity and learnings from in-depth market research insights, we are ready to optimize the launch trajectory. We expect to have product available in the fourth quarter of 2022 following the fulfillment of customary, pre-launch regulatory requirements.” About ROLVEDON™ ROLVEDON™ (eflapegrastim-xnst)injection is a long-acting granulocyte colony-stimulating factor (G-CSF) with a novel formulation. Spectrum has received an indication to decrease the incidence of infection, as manifested by febrile neutropenia, in adult patients with non-myeloid malignancies receiving myelosuppressive anti-cancer drugs associated with clinically significant incidence of febrile neutropenia. ROLVEDON is not indicated for the mobilization of peripheral blood progenitor cells for hematopoietic stem cell transplantation. The BLA for ROLVEDON was supported by data from two identically designed Phase 3, randomized, open-label, noninferiority clinical trials, ADVANCE and RECOVER, which evaluated the safety and efficacy of ROLVEDON in 643 early-stage breast cancer patients for the management of neutropenia due to myelosuppressive chemotherapy. In both studies, ROLVEDON demonstrated the pre-specified hypothesis of non-inferiority (NI) in mean duration of severe neutropenia (DSN) and a similar safety profile to pegfilgrastim. ROLVEDON also demonstrated non-inferiority to pegfilgrastim in the mean DSN across all four cycles (all NI p<0.0001) in both trials. Please see the Important Safety Information below and the full prescribing information for ROLVEDON at www.rolvedon.com. Indications and Usage ROLVEDON is indicated to decrease the incidence of infection, as manifested by febrile neutropenia, in adult patients with non-myeloid malignancies receiving myelosuppressive anti-cancer drugs associated with clinically significant incidence of febrile neutropenia.
Yes, that is the chart I was alluding to in some other thread about a ZH article, where it shows a shit-ton on negative delta hedging. I mean, that is just breathtaking. My Lord, what will happen if that short bubble breaks? And when? Will it be if the CPI/PPI prints comes in weak next week? Will it come if Powell intimates any sign of a pause at the end of the month at the Fed meeting? Very exciting times!
Read This Overnight- Forced Buying Puts a Floor Under Stocks Nobody Else Wants to Own 1 / 4 Forced Buying Puts a Floor Under Stocks Nobody Else Wants to Own Fri, September 9, 2022 at 4:06 PM- (Bloomberg) -- In a week that saw discretionary buyers beat a quick retreat from risky assets, another set of traders stood up to halt a three-week plunge in the S&P 500: those with little choice but to buy. They included short sellers, whose rush to cover lifted stocks they’re betting against to gains of more than twice the market’s. Options dealers were another bullish force after getting caught needing to boost hedges by buying stocks when they rise. Certain quantitative traders for whom chart thresholds are a call to action also made their presence known. Combined, these players helped the market overcome a fresh wave of selling from day traders and fund investors. Up 3.7% over the holiday-shortened week, the S&P 500’s advance flew in the face of Federal Reserve Chair Jerome Powell’s persistent hawkish message. While it is debatable how much bad news is priced into 2022’s bear market, the prevailing skepticism toward stocks makes Andrew Slimmon optimistic. “There is just a huge negative bias for the market right now and that is an extremely contrarian signal,” said Slimmon, global equity manager at Morgan Stanley Investment Management. “Markets are set up for a very good fourth quarter. There are a lot of funds betting the markets are going to drop.” While advice not to fight the Fed has generally been sound in 2022, it has occasionally run into trouble when bearishness started to boil over. This week’s advance came at the same time when Powell said Fed officials won’t flinch in the battle to curb inflation, hardening expectations that they’ll deliver a third straight jumbo rate hike later this month. A growing number of economists see a hike of three-quarters of a percentage point as the likely outcome. Some cited a retreat in dollar as another factor behind stock resilience given that the recent chaos in the currency market supposedly created pressure for money managers to rein in risk. Others pointed to the S&P 500’s buoyancy itself as a catalyst for further gains. At the center of the bounce is the battle line of 3,900, which acted as a support in mid-May and then kept a lid on advances briefly in June and July. After managing to close above the threshold during a retreat Tuesday, the S&P 500 embarked on a three-day rally. Along the way, the benchmark index reclaimed other key trendlines, including its 100-day and 50-day averages. The Cboe Volatility Index slipped for a second week in a row. For rules-based traders, a calming market with favorable momentum is a green light to go long. Volatility control funds, for instance, snapped up $2.1 billion of stocks on Thursday alone, according to an estimate from Charlie McElligott, a cross-asset strategist at Nomura Securities International. As the market marched higher, it turned another set of price-insensitive players into buyers: options dealers who took the other side of derivatives trade and would need to buy or sell underlying stocks to maintain a neutral market exposure. Over the week, they were mostly mired in a “short gamma” stance that requires them to go with the prevailing market trend, McElligott said. Short sellers, whose wagers looked prescient during the 2022 bear market, were caught wrong-footed as stocks bounced back. The need to cut losses forced an unwind that led to an 8.2% jump in a Goldman Sachs Group Inc. basket of the most-shorted stocks over the week. Technically driven demand defied the growing drumbeat of Wall Street warnings and overshadowed what’s increasingly a bearish army of fundamental-based investors. This year, cash holdings have risen in mutual funds, and hedge funds’ equity exposure hit multi-year lows. Now, retail investors, one of the staunchest dip buyers in the post-pandemic era, are reconsidering their bullish stance. During the week through Tuesday, they sold stocks for the first time since June, according to a JPMorgan Chase & Co. estimate derived from public data on exchanges. Meanwhile, more than $10 billion was pulled out of equity funds, data compiled by EPFR Global show. “Bears will retort that gains were held only fleetingly, and relied a great deal on short covering,” said Michael Shaoul, chief executive officer of Marketfield Asset Management. “Although a good deal of Fed tightening has been priced into the market, the stubbornness with which higher interest rates may be maintained in the face of a deteriorating economy has not been sufficiently taken into account.” The whole year has been a dangerous one for bears and bulls alike. As alarming as Fed policy makers all sounded, inflation data due Tuesday is likely to show weakening prices from generational highs. And whatever harm rate hikes may bring, the damage has yet to make its way to corporate earnings and the credit market. Buffeted by conflicting narratives, stock moves have made market timing all but impossible. After suffering the worst first half in five decades, the S&P 500 recouped half its bear-market decline during a two-month, 17% rally from mid-June. Once the bounce hit a wall at its 200-day average in August, the index quickly reversed its course and lost almost 10% before this week’s rebound. The whiplash has prompted Suzanne Hutchins at Newton Investment Management to prepare for the unexpected. While having reduced overall equity holdings in anticipation of a prolonged drawdown, she recently bought bullish options as insurance. “When you are in a long-term structural bear market, which we think we’re probably in, you do get very, very sharp market rallies,” said Hutchins, senior portfolio manager and head of the real return strategy at Newton Investment. “We’ve got call options to the upside on market should we be wrong.”
Such easy money- I'm a chump! DICE Therapeutics, Inc. (DICE) NasdaqGM - NasdaqGM Real Time Price. 22.65+0.56(+2.54%) At close: September 9 04:00PM EDT
Endeavour Silver Corp. (EXK)- $2.80--> $3.11 1 week WATCH- NYSE - NYSE Delayed Price. 3.1100+0.1300(+4.36%) At close: September 9 04:00PM EDT