Holy moly! I hit the lotto! (sort of)

[Fermion]

Quote:

Originally Posted by Texas Proud The one thing that I will ask if how many others like this have you bought that you lost money on? I am happy for you this is hitting, but if you are like someone who gambles they just talk about their winnings and do not mention all the losses.

I lost about $5,000 on Seadrill (I think a few of us did on here) but got out in the $20's instead of holding it to what, $0.25 today?

I first bought Gilead in the $80s and for awhile I was down several thousand (as others on here did too) but it has come back nicely and I bought some in the $60s and sold covered calls.

I at one time bought quite a few shares of Vanda at $4, when it had $6 in cash but got tired of holding it after a year and sold it. A few months later it went to $17.

And one of the biggest misses, I had $100,000 face value of mining company bonds paying 12.5% and bought for just $25,000. I sold them at $40,000 and just two weeks later the company was bought and they were redeemed at 100% of par plus six months interest.

[RetireAge50]

Fantastic so far! Hope you make a million!

[Texas Proud]

Quote:

Originally Posted by Fermion I lost about $5,000 on Seadrill (I think a few of us did on here) but got out in the $20's instead of holding it to what, $0.25 today? I first bought Gilead in the $80s and for awhile I was down several thousand (as others on here did too) but it has come back nicely and I bought some in the $60s and sold covered calls. I at one time bought quite a few shares of Vanda at $4, when it had $6 in cash but got tired of holding it after a year and sold it. A few months later it went to $17. And one of the biggest misses, I had $100,000 face value of mining company bonds paying 12.5% and bought for just $25,000. I sold them at $40,000 and just two weeks later the company was bought and they were redeemed at 100% of par plus six months interest.

Good to hear... hope it goes up and up...

[Fermion]

Pre market is showing $5.71!

Since I am last place on the beat Boho thread, I am going to buy Endocyte in there with whatever I have left. If it goes to $30, I definitely beat Boho.

I wanted to buy it in that contest when it was $1.21 but the daily volume on the stock was around 100,000 shares total lol. You could only buy a small fraction of the daily volume per contest rules.

But yesterday 53 million shares were traded.

[Fermion]

The chart of this account (which was recently moved from optionshouse to e-trade when they got bought) looks like an ideal diode LOL!

[wmc1000]

Congrats Fermion hold on for the rocket ride!

[Moemg]

Congrats ! Great stock pick !

[Fermion]

Thanks.

I may have created a problem with my wife though. She suggested we buy 1000 shares in her Roth and trade it. We bought 1000 at 5.50 and sold them at 6.04 and just rebought them at 5.52. She is clicking the quote refresh button every few seconds which is annoying me because I am trying to play Puerto Rico on boardgamearena.com She was not interested in stock trading before we made $180,000 in one day. What have I done?

edit: And.....she just sold them at $6.02 again. Now she is bragging about her daytrading abilities (where is that eyeroll emoji)

[RetireAge50]

Awesome. Time to sell and go sailing⛵️ again? Subsidies were chump change anyway.

[kite_rider]

Interesting that you've highlighted SDRL, GILD, and VNDA. I've been in and out of GILD for a long time and have some nice scars from a flirtation with SDRL (youngest fleet in the drilling industry! Yea, right...). Will look into VNDA.

I like to keep a very small part of portfolio set aside for speculation. It's fun in a Vegas sort of way. Plus I end up learning a lot about the latest and (not so)greatest trends this way. Just ask me about my brother's big ICO plans for 'Remit Coin'...

[Fermion]

VNDA was a long time ago (2011 or something?) I have not even checked its quote in years.

The only Gilead I have is 1000 shares covered by Jan $70 calls I sold. Pretty much all I am doing is collecting the $520 dividend until my shares are called away in Jan.

I don't want the gain on that trade to come this year (it is about a $7,000 short term capital gain) so will not buy back the calls even though they are trading at little time value because they are so deep.

ACA and taxes are definitely wagging the dog here. Oh well.

[FUEGO]

Quote:

Originally Posted by Fermion I may have created a problem with my wife though. She suggested we buy 1000 shares in her Roth and trade it. We bought 1000 at 5.50 and sold them at 6.04 and just rebought them at 5.52. She is clicking the quote refresh button every few seconds which is annoying me because I am trying to play Puerto Rico on boardgamearena.com She was not interested in stock trading before we made $180,000 in one day. What have I done?

It's the worst. Been there, done that. You're trying to get your game on and your wife is trying to distract you with the making of mere hundreds of dollars.

[kite_rider]

Quote:

Originally Posted by Fermion ACA and taxes are definitely wagging the dog here. Oh well.

Kudo's that you can make these bold (and large) trades and still pull off an ACA subsidy. Being scared about a missing paycheck when I was FIRE'd, I ended up writing some 'land contracts' on rental property that I no longer wanted to manage. The interest from them along with a dividend strategy that I didn't actually need has pushed the MAGI for our family of 4 way out of the range of a subsidy.

The market has been amazing this year and I'm not so excited about future prospects so I've been in sell mode. Taxes for 2017 are going to be horrendous and DW has urged me to stop selling since she things it will screw up our son's financial aid prospects as he applies for college. Not that I expect any aid anyway.

So I guess there is always something wagging the dog.

[Fermion]

The worst would be a buyout at like $15 a share. We would have to recognize several hundred thousand in short term capital gains plus pay back ACA subsidy for this entire year. Combined those would be around $100,000 in taxes on a $220,000 gain. We have like no deductions.

Better scenario is a slow walk to $15 or $30 by the drug launch in 2021. I can then sell 1000 shares a year for the next decade and use the money as MAGI for ACA.

Imagine financing your whole retirement on one $50,000 purchase of stock...

[Texas Proud]

You might be a bit short sighted in tax avoidance... if I had $100K gain today on a spec stock I would take a good amount of it no matter what...


Back in the late 90s I had some stock options that grew to be worth over $100K... I did not want to take them since the taxes were going to be to much for me... well, I watched as the price went down... had to sell them when they matured for about $30K gain... all because I did not want to pay taxes... and this was a mega corp who would not go to zero.... your stock could....


Edit to add... I invested in a biotech on advice from a friend who did cancer research... there was 'great news' in what was happening and they expected the stock to rocket even more than this.... stock never took off... and the research was a dud.... wish I could remember that company... I think it was sold to someone else who was trying some other medical product that had nothing to do with cancer...

[Running_Man]

Fermion,
It was a bold call and notice by you that there was more cash per share than value, and management has done what the market has liked, it is basically selling everything it has and does for buying an established Phase III drug for prostate cancer, so now they have created a company that can be invested in for a single treatment therapy and play the odds on success with one company.

If successful it appears profits can be in the 200-300 million a year range or 4-6 dollars per share which translates to between $80 and $180 per share future stock price. If unsuccessful the company will likely go belly up as they plan on purging themselves of everything else they are working on to market this, which I am sure management has been planning for a while and why management was funding the company.

What is such an option worth? They paid $12 million plus 6 million shares (36 million at current prices) or about a dollar a share total, a 160 million dollar bonus payment if the treatment is approved ($4.00 a share) and the company that sold it ABX gets 15 percent of the revenues, I am assuming if successful revenues would be around 2 billion so another 300 million. So the selling company valued the percentage of ownership they were giving up as worth $5.00 a share, while still getting participation upon success and the market is presently valuing that as somewhat higher. The choice to sell or ride the chances of success, with a single point of success or failure it would seem to me to hold such a large single position would give you the greatest chance of great wealth at an optimum it could be 5.4 million dollars.

In the present state though you have been able to get more than double the cash held as of last June.

[brokrken]

Congrats on the ride. This is sort of like the ride I've been on with NVDA, except mine has taken much longer. Bought in about 7ish years ago around $10 and been holding ever since all the way up to its current point at about $179. My wife keeps telling me to sell it, but I can't make myself pull the trigger.

[kite_rider]

Quote:

Originally Posted by Texas Proud Back in the late 90s I had some stock options that grew to be worth over $100K... I did not want to take them since the taxes were going to be to much for me... well, I watched as the price went down... had to sell them when they matured for about $30K gain... all because I did not want to pay taxes... and this was a mega corp who would not go to zero.... your stock could....

+1 on not letting taxes get in the way of a great gain.

When I was at megacorp stock options were making some of my co-workers millionaires overnight (not me ). Anyway, some of the bright folks took a strategy with incentive stock options (ISO) where they would exercise some options early in the year and hold the stock with the idea that the 'inevitable' gains would make the taxes next April more palatable.

Well, that worked until the stock crashed. One poor guy had to sell his fancy house, fine cars, and may have even declared bankruptcy just to deal with the taxes he was trying to minimize. He was so depressed he couldn't even get his work done anymore and didn't last long at the high pressure boiler room we worked in. So I gained a valuable lesson there; take your gain, pay your crazy taxes, and pat yourself on the back for a job well done.

[Fermion]

This is definitely still a high risk stock but consider what Running_Man has mentioned. This could easily go to $80, $150, maybe even $200 a share especially if they are able to target other indications. Perhaps switching from a chemical warhead to a radioisotope was what they needed to do all along. And there was no value at all assigned to their imaging drug which works amazingly well and seems like it would have value to big pharma.

30,000 shares x $200 = Fermion can't count that high

Check out the results of their imaging drug and this new drug they are going to go to phase 3 with:

[Texas Proud]

Quote:

Originally Posted by brokrken Congrats on the ride. This is sort of like the ride I've been on with NVDA, except mine has taken much longer. Bought in about 7ish years ago around $10 and been holding ever since all the way up to its current point at about $179. My wife keeps telling me to sell it, but I can't make myself pull the trigger.

That was a good pick... it is a question of how many shares you have bought... if a good number then you might trim what you own and ride the gains...

I was very late to the game, but hold some of this and am hoping to ride it higher... wish I had another one to strap onto!!!