Bought big into Gilead today

[Fermion]

Big for my little trading account. I had 10 Gilead Jan 2016 $70 call options already purchased at $12 (wish I had bought more!) but today I added 500 shares of the stock itself at $90.50.

Going to see if this will push me over $100,000 by next year. That would be a hoot, going from $1700 to $100,000 in 15 years.

 

[Lakedog]

Since it dipped into the 60s, I've been trading GILD a bit in my Roth and have done quite well. Afraid to hold much long term from this level - if we have a decent correction, this one will likely drop much faster than the market.

 

[Fermion]

Lakedog,

Yes, I too have been trading it in my IRA (not a Roth sadly). I first got into it at $65 so it has been quite the profit on the move to $90.

Definitely a risk stock but it has the potential to double from even here, which is pretty incredible for such a large company. I guess 100% increases in revenue does that.

 

[Lakedog]

I'm hoping for a bit of a market correction taking GILD down with it, otherwise I probably won't chase it here. I might be sorry that I didn't buy a bit today on the slight drop.

 

[RobLJ]

I'm hoping for a bit of a market correction taking GILD down with it, otherwise I probably won't chase it here. I might be sorry that I didn't buy a bit today on the slight drop.

It's tops on my buy list in DW's IRA rollover. I entered a bid yesterday at about .5% lower and cancelled an earlier 5% down limit order (before earnings, just in case of a panic) but will enter another order if the market ever drops more than 5%--I assume it would go down in a correction, but that's not assured. I like to ease into position in two or three increments over 6-12 months.

 

[Fermion]

Sold my 500 shares for $94.20 today. $1850 profit minus $6 in commissions ($3 each way), not bad for a one week time period.

 

[Fermion]

Re-entered Gilead ownership (sort of) by selling 5 Jan 2015 $100 puts for $12.20.

Either puts me into the stock at $87.80 or nets me $6k and change in a 5 month period. I predict the latter but would be *ok* with the former.

 

[Fermion]

Re-entered Gilead ownership (sort of) by selling 5 Jan 2015 $100 puts for $12.20.

Either puts me into the stock at $87.80 or nets me $6k and change in a 5 month period. I predict the latter but would be *ok* with the former.

Converted it into a put spread today to free up cash for a real market drop. Cuts into the gain a bit but frees up $45,000.

Currently sitting on $82,000 cash in the two IRAs, this Gilead put spread and 10,000 shares of a little mining stock that has gone from $0.12 to $0.24 over the past few months because they doubled their gold output on rich grades.

I feel I can sit on cash since the accounts are up over 38% YTD combined.

 

[Fermion]

Converted it into a put spread today to free up cash for a real market drop. Cuts into the gain a bit but frees up $45,000.

Currently sitting on $82,000 cash in the two IRAs, this Gilead put spread and 10,000 shares of a little mining stock that has gone from $0.12 to $0.24 over the past few months because they doubled their gold output on rich grades.

I feel I can sit on cash since the accounts are up over 38% YTD combined.

Ack, I can sure make a mistake. Gilead shot up now to near $100 a share. Now instead of happily being short some worthless $100 puts I own a spread that is only up a few hundred bucks. Ah well.