trying to get a short straddle of ACOR to fill on the 20 strike and get the rest of my fill on the strangle yesterday.
just got 1 leg of the straddle filled today,the 20 jun calls on ACOR. I'll trying to get the 20 jun puts to fill tomorrow. No luck on the 25 jun call being filled today at a decent price with everything going down including ACOR. I am looking forward for a easier filling day tomorrow. went to the range yesterday and hit a big bucket looks like my iron play is in top shape. needs to work on my driver a little more, cant seem to get that ease in the swing.
Yesterday was the one month anniversary for this account. So I had some free time and plotted my equity curve. The 10% line is just a reference and not a goal or a barrier for better success. I am looking forward to see how this graph look in 6 months or longer.
bought to close the 17.5 put on ACOR, bought to close on the 1 contract of 25 call(I hate partial filled).
got the news on GTXI today it wasn't what I was looking for. The interim data was inconclusive vol collapsed my position was worth .20 and I close it out. So I am down -$275 for GTXI year to date. this stock will go into my long-term watchlist. I'll be watching ACOR and MYGN like a hawk since they are my position right now.
I'll probably won't do anything with my ACOR and MYGN options position this week but I'll keep an eye on them just incase something crazy happen. The underlying is acting "normal" and are in the price range I projected, although ACOR is almost touching the projected high for this week earlier in the day. As for MYGN, if it stay below 51 this week then I'll be a happy camper. I am planning to hold these till the week of 6/9 if everything goes well and probably unwind before the week of exp. 6/16.
I am looking at BMRN and AUXL right now. There is short term potential in these two they are releasing top line data on there phase III in the upcoming month(s). I would use a non-directional strat here.
I manage to do nothing this week except looking over my positions, which is a good thing. Do some research on some company on my list, going over all the numbers and conference call transcript. My positions are eating up more margin then I am used to having, even though my position are hedged, and definately a concern to me. I dont like using a lot of leverage in my position but short straddle, strangle are prone to eating up margin. If everything goes normally I should be able to close out both my position next Friday for a 50% gain versus 100% calculated gain at June exp. If vol remain steady then I will have to wait until at least 6/13. Unless something unusual happen between now and then I am planning to stay the course.
Wow wake up and ACOR had good news on the prelim result and the stock jumped $7 thats a 33% percent increase, which was more then I predicted. I closed it out my straddle for a loss of 2K. I haven't seen the data yet but I didnt want to take a chance but I will listen to the conf call and go over there data now.
AUXL had good results today on there phase III trials but there is some concern on the safety data. The jury is still out on if the tendon rupture(3) case out of 850 patient is a problem. but 1 case is uncconfirm. So we have to wait and see. MYGN is still flat line till the announcement on the trial data later this month.