$SRPT SRPT If this baby gaps up tomorrow I'm going to go short if it spikes up into a whole dollar, then I will have my resistance right above that
Shooting for an .08 ($8) debit fill here. It's a lotto trade (which I hardly ever do), but I think that the drug will ultimately not be approved. The potential profit is $795/contract, but that's if the stock goes to "0." Additionally, it will only "play out" if there is news prior to expiry. Otherwise, it'll stay way up here.
IV at 303% when historical volatility barely makes it to 200% makes this trade a pretty easy one imo. There's a very minimal chance that a gap would find higher values of $40 - or less than $4. Anyway, I'm not holding this options once the theta fat is gone. Sarepta Therapeutics: Patience Will Not Be Rewarded Stock Falls, Janney: 'Stay on the Sidelines'
... for a 2.85 ($285)/contract credit. This will complete an Aug 26th 10/35 short strangle worth 4.15 in credit ($415)/contract, which I'll shoot to take off at 50% max profit. Because I already had the 10 short put on, this doesn't cost me any additional buying power. This will also give me some protection to the short side, since I think that this is more...
Mmm. Must have gotten busy and not posted this one. In any event, I legged into these two sides separately, the 8 first and then the 40 after it ripped somewhat higher. The whole burrito was worth 5.82 in credito. Closing out here for a 4.60 debit nets me $122/contract in profit. This thing is "wicked illiquid", so I figured I get while the gettin' was good ... .
chart gets interesting at $24 from a technical perspective. Watching.
... for a 1.30 ($130)/contract credit. I probably could have worked for a better fill by $5-$10, but wanted to get this last trade on before the close. Metrics: Probability of Profit: 86% Max Profit: $130/contract Max Loss: Undefined Buying Power Effect: $100/contract Break Even: 8.70 Notes: I'll look to take this off at 50% max. It's a trade, not an investment ... .
Seems breaking up a symmetrical triangle, money-flow in strong. Waiting for a big announcement, so we took some speculative Option calls. For trade we took some Jan17- 30 call for $6
Chart is not looking bullish or aggressively bearish, needs to start building higher lows if it wants to fill the gap to $30.
Although there are some warts on this particular trade (namely, the reason why SRPT tanked today) and the fact that liquidity in the options is not that great, I couldn't resist getting over $100 credit on a short 6 .... . Metrics: Probability of Profit: 65% Max Profit: $125/contract Max Loss: $475 (the strike price minus the credit received). Notes: Some price...
Cup and Handle. Monitor upside breakout or Handle break down out of bull flag.
We've been watching SRPT consolidate for a few weeks now between the 35 fib extension support level and 38 resistance level. We've been building our position with $40 calls, adding on drops into the 35 area. Yesterday, we saw the stock top 38 on the open only to end the day down +4%. With this morning's announcement, we gain a timetable for risk, which makes it's...
We're seeing consolidation forming above 34.88, my entry point from last week. Today's 5% decline doesn't seem completely out of line, given today's tape and broad selling. The 35 handle held, and today's lows stayed above last week's lows. I'm using today to buy more and still targeting 42.00.
This stock had a stock split without splitting it split about 50% due to bad earnings...it has now found support on the 200 dma. This offers a good entry should you take the risk to buy here. However it may be best to wait until it breaks out to the upside or downside to take a trade long/short. The potential on breakout to upside is back to the 40s could take...