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

[Fermion]

I think we will be fine. All we need is a tiny bit of good news in September and it is back over $22.

If it drops below about $15 then I am going to load up because it will get bought out.

 

[NW-Bound]

I don't know if they need a change in management or the world needs a change in the way drugs are valued. It is kind of hard to grasp that a company who is making drugs to treat HIV and COVID is trading at PE10 and a car company is trading at PE1000.

The market always has its reasons.

Come to think of it, Tesla has actual sales and some bitty profits. There are a few EV startups that are valued in the billion dollars, at the valuation level where Tesla was not too long ago, when the latter already sold cars. And these startups still have no factories. A few are still working on their prototypes, let alone a production model. Buy, buy, buy... The EV market is where the dotcoms were in 2009. They are not making money yet, but they soon all will. Buy, buy, buy...

 

[Speed Racer]

Goodyear is down the past couple of days due to some political controversy, might be a good time to swoop in and make a quick 5%

Up over 4% today. Too bad I didn't have any extra cash lying around.

 

[Born2Fish]

I just did the same, but only got $2.25. Cost basis down to $15.55.

Same play this AM at $2.25.

 

[brokrken]

Did a buy/write on SGMO $12 September calls. Net debit $10.50. Did something similar last month with the $11s and they got called, but still made the premium and cap gain. So, we'll try it again. Unfortunately, this one is not very volatile, so you have to do a ton of shares to make any money.

 

[Fermion]

Did a buy/write on SGMO $12 September calls. Net debit $10.50. Did something similar last month with the $11s and they got called, but still made the premium and cap gain. So, we'll try it again. Unfortunately, this one is not very volatile, so you have to do a ton of shares to make any money.

$0.28 is not a lot of premium, but hey, it is something I guess.

I am not selling ITCI calls until it gets back to the $20 area. I think it gets bought out soon if it continues this low but it is hard to guess the timing...it could be many months.

 

[brokrken]

$0.28 is not a lot of premium, but hey, it is something I guess.

I am not selling ITCI calls until it gets back to the $20 area. I think it gets bought out soon if it continues this low but it is hard to guess the timing...it could be many months.

Agree. My thought was, if it doesn't get called I picked up a few steak dinners, and I still own the stock, which I don't mind, and if it does get called, I make 14%+ in 3 weeks or so.

We shall see.

 

[bobandsherry]

$0.28 is not a lot of premium, but hey, it is something I guess.

I am not selling ITCI calls until it gets back to the $20 area. I think it gets bought out soon if it continues this low but it is hard to guess the timing...it could be many months.

Heh - I've been flipping my original shares with covered calls @ $25. Not a lot of money being made now, but in just a little over 2 months I've collected $7.50/sh in premium, so if it should get bought out at $25 or above I'll end up with $32.50/sh. If buyout is $30/sh, I'll be ahead, if it's above $32.50 I'll have missed some of the premium on the buyout. Hopefully nothing happens until after the Sept call expires

And the covered calls I have at @$19 will definitely have left money on the table there, but still have made me a good return for a month. But also flipped shares along the way to pocket some gains too. This little guy has been interesting to play. Appreciate you calling this out for one to do some due diligence on

 

[Fermion]

Yeah well I could have made it a lot easier on you guys if I had just told you to buy Tesla at $1100 or whatever it was a couple months ago.

 

[bobandsherry]

Yeah well I could have made it a lot easier on you guys if I had just told you to buy Tesla at $1100 or whatever it was a couple months ago.

Heh - had others tell me to buy, I just can't get my head wrapped around the valuation. Dummy me as it turns out, if I put my investments in Musk's hands I'd be buying a private island right now..... I keep waiting for the house of cards to fall, but continues to climb.

 

[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.

This guy (CRBP) hasn't set the world on fire, but it's been bobbing and weaving and up over a buck since I had mentioned in back in June. I've done OK with it. I usually pay no attention to the Put, but it caught my eye today. You can sell a $5 Put for Sep18 for 95 cents. This is currently trading at $8.80 (up 3% today), so way out of the money and pretty healthy premium, not usually seeing premium like that. If the shoe should drop, I'm OK with owning this at a net of just around $4/sh, so I'm OK with putting 95 cents in my pocket for 3 week hold. Anyone see something I'm missing with that trade?

 

[brokrken]

Bob, that makes sense to me. Some of these short term way out of the money options are priced a little nutty. I just sold NVDA $640 calls that expire this Friday for $0.85 and they are $82 out of the money.

 

[Fermion]

Dang SGMO and ITCI are down. I don't have any SGMO right now but sure am getting tempted. I have probably too much ITCI but still expecting a pop in September, or a buyout offer this fall.

 

[brokrken]

Yeah, huge drop for SGMO today. Any idea why?

 

[Fermion]

Yeah, huge drop for SGMO today. Any idea why?

The only thing I can think of is it doesn't begin with T and end in A.

I think there was some general biotech down news (another discussion on high drug costs) and maybe something from a competitor.

 

[bobandsherry]

Bob, that makes sense to me. Some of these short term way out of the money options are priced a little nutty. I just sold NVDA $640 calls that expire this Friday for $0.85 and they are $82 out of the money.

Always nice to squeeze a little juice from your holdings and still keep what you have. But, with NVDA even $82 out of the money may not really be out of the possibility of hitting that strike price NVDA is another stock I should have bought, but honestly never could justify the valuation, guess 98x PE isn't unreasonable these days. But that pales by comparison to TSLA which is "only" 1282x PE. Time to throw fundamentals out the window and just go with speculation. Continued good luck to you.

 

[brokrken]

Always nice to squeeze a little juice from your holdings and still keep what you have. But, with NVDA even $82 out of the money may not really be out of the possibility of hitting that strike price NVDA is another stock I should have bought, but honestly never could justify the valuation, guess 98x PE isn't unreasonable these days. But that pales by comparison to TSLA which is "only" 1282x PE. Time to throw fundamentals out the window and just go with speculation. Continued good luck to you.

I also would be scared to buy at these valuations. I was super lucky and bought it back in late '09 or early '10 for like $10.

 

[bobandsherry]

I also would be scared to buy at these valuations. I was super lucky and bought it back in late '09 or early '10 for like $10.

Yeah, I have a friend who did the same. He's smiling all the way to the bank, just like you

 

[Sunset]

This guy (CRBP) hasn't set the world on fire, but it's been bobbing and weaving and up over a buck since I had mentioned in back in June. I've done OK with it. I usually pay no attention to the Put, but it caught my eye today. You can sell a $5 Put for Sep18 for 95 cents. This is currently trading at $8.80 (up 3% today), so way out of the money and pretty healthy premium, not usually seeing premium like that. If the shoe should drop, I'm OK with owning this at a net of just around $4/sh, so I'm OK with putting 95 cents in my pocket for 3 week hold. Anyone see something I'm missing with that trade?

CRBP just dropped to $2.30, I was just following it due to your post.

 

[Fermion]

A heads up on CLSN (Celsion).

I have been in and out of this bio for several years. It has issues, but also has some lottery ticket potential and is trading dirt cheap (near cash on hand). I bought 20,000 shares this morning at $0.78. They arranged some financing at $1+ per share (or more) with no warrants (I hate warrants).

The issues are their phase III trial for a heat activated cancer treatment is showing futility although there is some argument the data is not mature. I am not very hopeful on this but they do have another unrelated drug in trials for ovarian cancer which is showing results. This coupled with decent cash on hand and the super discounted share price makes it a discarded cigar butt which I think could be worth a puff or two.

Best case here is they find out the data was better than the previous analysis and the HEAT trial is allowed to continue, or the ovation study for ovarian cancer goes well and they attract a buyer. Some similarities to Endocyte here although not as deeply discounted as Endocyte was.

Could lose your investment here easily so if you follow me down this rabbit hole, be prepared for that.

 

[brokrken]

If I were you, I'd sell it for its current $0.85, take my $1,400 and run!

 

[Fermion]

If I were you, I'd sell it for its current $0.85, take my $1,400 and run!

I can't even be bothered to click a mouse for $1400 anymore...too much effort.

 

[aja8888]

I can't even be bothered to click a mouse for $1400 anymore...too much effort.

Plus paying the taxes on the $1400.....

 

[Fermion]

Plus paying the taxes on the $1400.....

Nah this is in my IRA. It is up 240% this year, thank goodness it is a Roth too!

 

[bobandsherry]

CRBP just dropped to $2.30, I was just following it due to your post.

Yeah, saw that. It was interesting. This showed up this morning:

https://simplywall.st/stocks/us/pha...ice-is-up-343-and-shareholders-are-delighted/

And then an hour later the news came out on their clinical test. I would not have thought it would have been trimmed that much. Last time this dropped below $4 was back in 2016. Good news is they still have results to report on another of their drugs for CF. Hopefully not a bust like this. So in mean time, rolled this out to December, picked up a bit more premium too, and will see if this recovers before that.