RobinHood race from $2,500 to $250,000

[Fermion]

And if it goes the other way? What's your exit strategy on the downside? Also, did you sell the July 24 calls?

July 17 calls

Well, so I have the cliff, which is about a $9,000 tax on any money above $66,000.

So if my current realized gain is $85,000 and I ended up taking a $20,000 loss on this play instead of a $12,000 gain, it would technically only be a net $11,000 loss (a bit better than that actually because of other reduced taxes).

Note that if I took a $20,000 loss on this, that would mean Gilead had dropped to about $64 a share. This is pretty low, but certainly in the realm of possibility considering this past year.

So I guess that is my exit strategy. I will take a loss if Gilead drops below $64 and not repay our ACA subsidy.

 

[bobandsherry]

July 17 calls

Well, so I have the cliff, which is about a $9,000 tax on any money above $66,000.

So if my current realized gain is $85,000 and I ended up taking a $20,000 loss on this play instead of a $12,000 gain, it would technically only be a net $11,000 loss (a bit better than that actually because of other reduced taxes).

Note that if I took a $20,000 loss on this, that would mean Gilead had dropped to about $64 a share. This is pretty low, but certainly in the realm of possibility considering this past year.

So I guess that is my exit strategy. I will take a loss if Gilead drops below $64 and not repay our ACA subsidy.

Heh, playing on the government's money. If you win, you win. If you lose, you win. Nice!

 

[Fermion]

Those who stayed in SGMO, it is going up today pretty well as the market drops. Someone is buying in.

I bought this morning at $10.60 and sold at $11.15 and now it is $11.60

Currently at $29,640

 

[Born2Fish]

Those who stayed in SGMO, it is going up today pretty well as the market drops. Someone is buying in.

I bought this morning at $10.60 and sold at $11.15 and now it is $11.60

Currently at $29,640

I took profit on SGMO this AM.

I'm stuck with ITCI now that it's fallen. Almost sold yesterday at $23. Doh!!

 

[Fermion]

I took profit on SGMO this AM.

I'm stuck with ITCI now that it's fallen. Almost sold yesterday at $23. Doh!!

I bought back into ITCI today at $20.90 (it is a little lower than that now) 500 shares, so I am in it with you.

SGMO pulled back a little, still up.

Considering the market is down 5% these two are holding up ok

 

[tulak]

I didn’t post earlier, but I’ve been along for the ITCI/SGMO ride.

I bought 400 ITCI in early May at 20.74. I rode this up and back down.

I bought 500 SGMO at the same time at 10.03. I had a limit order for $9 and almost bought more when it was at $9.20 (bummer).

I bought 40 SGMO August calls at .30. I sold half of them at 1.10 in early June and put in a limit order today for 1.80. Probably won’t sell. These have paid off nicely so far.

I looked at ITCI calls today, but they’re too pricey.

 

[brokrken]

Since I missed the SGMO boat (still have a buy order in at $9), i'll tell you about my recent lucky pick. On Monday I bought October 310 puts on SPY. Up 90% as of today.

 

[Fermion]

What made you buy the puts? I mean I was also looking at SPY when it crossed 320 and thinking...wow, this market is really ignoring everything isn't it?

Grats on the score though.

Back to ITCI. I am feeling pretty good about this one the more I dig around. With $450 mil in net cash and a 1.35B market cap, plus a marketed drug and news coming out soon, this feels like another bio that is going to get snapped up soon.

Going to wake up one morning and see ITCI trading for $52 a share. I just hope it is a time where I am holding some and haven't just swing traded it for a few dollars profit.

 

[Fermion]

Sold the ITCI this morning for enough profit to push me over 30k!

Currently in all cash, with a 1100% gain before the 2 year anniversary of this thread.

 

[brokrken]

What made you buy the puts? I mean I was also looking at SPY when it crossed 320 and thinking...wow, this market is really ignoring everything isn't it?

Fermion, it was exactly what you said. The market is making no sense. unemployment is 13%+, earnings are way down due to the shutdowns, which means valuations are soaring. At some point, earnings and the health of the economy have to mean something. My guess is that after Q2 earnings (which I think will be a bloodbath for most companies) that reality will finally sink in. This is why I bought the Octobers. However, on another thread some folks who liked the idea thought maybe December or January puts would be better since that would allow the election to unfold. In any case, I think we are in for a retest. I'll make some trades in the meantime, but I also have quite a bit of dry powder ready to go when it happens.

By the way, thinking of buying NKLA puts. This company isn't very close to bringing a product to market and is just riding the coattails of Tesla. Thoughts?

 

[Fermion]

By the way, thinking of buying NKLA puts. This company isn't very close to bringing a product to market and is just riding the coattails of Tesla. Thoughts?

NKLA is just a stupid company, right? They have fooled people into a $28B market cap with no product, no sales, and as you said, just riding the name.

The problem I have had is you can never predict how long investors in such will stay stubborn stupid, so puts are risky.

 

[brokrken]

Just put in a bid on some August 55 Puts. We'll see if someone grabs it. I don't plan to hold this until then, and will probably dump it on the first big down day. Agree, though, it is risky considering the point you make about stupid investors.

 

[Fermion]

OMG a Jan $60 put on NKLA costs over $40!

That is some real confidence there in the company.

By comparision, a Jan $80 put on Merck costs $9

 

[brokrken]

OMG a Jan $60 put on NKLA costs over $40!

That is some real confidence there in the company.

By comparision, a Jan $80 put on Merck costs $9

Yeah, it's nutty. My bid on the August 55s is $29 and probably won't get executed.

 

[Fermion]

I just bought back into ITCI cheaper than I was holding it yesterday. Nutty!

 

[brokrken]

Felt left out, so I just executed ITCI at $19.50

 

[Fermion]

Good buy ITCI at $19.50.

My current holdings (other than the free stocks) are 400 shares of ITCI and 400 shares of SGMO. $17,800 in cash ready to catch some bargains.

 

[brokrken]

Fermion, have you ever considered FOLD? Another one that has a current drug in the market that has accelerating growth in sales, with expectations of $1B annually by 2023 for this one drug. Also has a great opportunity with one of their trials in Phase 3 right now. Also has $350M in cash per 3/31.

 

[Fermion]

No, I have never looked at FOLD.

Just a brief skim of it now shows a few good and bad things.

They do rare and orphan drugs...not super exciting for major bucks or buyout opportunities vs a company working on NASH or ovarian cancer or similar.

Net cash of debt is something like $150m for a company with a $2.5B market cap.

Contrast this with ITCI which has a net cash of debt of over $400m with a $1.4B market cap (and ITCI did a raise at $29 recently, so is trading at quite a bargain to that price that people were willing to pay a few months ago).

Again I just did a quick glance. It may well be that FOLD is a great buy.

 

[bobandsherry]

Fermion - Looks like the pot has just been simmering on ITCI and SGMO, so has been good play for a few flips and make a few $$$. Any feel on CRBP ( CORBUS PHARMACEUTICALS HLDGS I COM)? I have a very small # of shares of that one, but it's been on a steady increase over the past 3 months.

 

[brokrken]

Dang, FOLD up 20% this morning. I had a buy order in yesterday that didn't get taken. I always try to get too cute with my purchases. Will be looking for some NKLA puts again today.

 

[Fermion]

Haven't had time to look into Corbus but a brief glance and it looks intriguing. They are very close to a phase III decision it seems? Getting low on cash but they don't have a high burn.

 

[Born2Fish]

Dang, FOLD up 20% this morning. I had a buy order in yesterday that didn't get taken. I always try to get too cute with my purchases. Will be looking for some NKLA puts again today.

I have done the same with ITCI - trying to squeeze out more than what the market is giving me.

On a different note, APA is a pretty good short term trade with the ongoing volatility. Been buying in 500-1000 share lots. Same with OXY, NBL.

 

[Fermion]

I have done the same with ITCI - trying to squeeze out more than what the market is giving me.

On a different note, APA is a pretty good short term trade with the ongoing volatility. Been buying in 500-1000 share lots. Same with OXY, NBL.

Me as well. I sold my ITCI and SGMO this morning and now am at $31,000 in cash. Will definitely rebuy both if given the opportunity.

This doesn't always work though, because sometimes you get left behind.

 

[brokrken]

Me as well. I sold my ITCI and SGMO this morning and now am at $31,000 in cash. Will definitely rebuy both if given the opportunity.

This doesn't always work though, because sometimes you get left behind.

Just got executed on my sell order of ITCI at $22.50. Nice little short term flip.