magic journal of doom

sold 10 June 22.5,15 strangle of ACOR@5.6. This is a very high probability winning trade according to my standard even more so then the GTXI and so far GTXI have been a very lucrative trade . Also I still have a bullish speculative position in GTXI. The May puts will be close before Friday and I'll unwind the rest of GTXI by no later then May 23.
 
closed out the 15 May put. now I'll sit back and relax till Friday. the ACOR position is going to sit for a week or two also. I wont be doing much until the GTXI position is unwind. More research and reading.
 
two days before May exp. day and I have no May options to worry about. I am gonna head out to the range for a few buckets. My short iron really need some work lately. and the volatility in the stocks near exp doesn't concern me.
 
nothing going on today just sitting around. my position have been the same for a few days now, nothing much to report. I was trying to get a filled on the GTXI 22.5 Jun calls but nothing came of it. going to be a hot weekend!!!!
 
Almost forgot this, I want to post at least a weekly account info so I can plot my equity curve when I get enough months down and see my progress. as far as how much I want to make or where I think the account will be, I have no idea. The goal is to make as much as possible without increase in the risk I take. I'll stay with the risk management style that I have in place and see.
 

Attachments

wow large collapse in vol today of ACOR I am trying to buy back the strangle at 3.75 remember I sold it for 5.60 not even a week ago. This was not unexpected as I indicated in an earlier post.

bought back the GTXI 15 June put for 1.55 thats a +$350.

update: bought back the 22.5 calls of the strangle, waiting to get filled on the 15 puts.
 
finally my ACOR 15 june puts are filled @1.55. I am finally out of my ACOR strangle @3.70 with a gross of +$1900. At the end of the day, I will try to get back into a straddle of ACOR at the 20 strike. I believe the vol crush is not finish, So I am planning to get in for another week. The result for the phrase III is not likely to be announced for another 2 weeks, thats my best guesstimate per the conference called.

I am still long on the GTXI june 17.5 calls. I will close this out by Friday if the announcement of the trial is not out. I am losing big on time decay. I might have to roll this into a call spread to recoup some premium.
 
The market is taking a dump right now but the section of the biotech I am looking right now is 95% green. This is exactly why I like biotech it is mostly independent of the overall economic views.

I have an order for a strangle 60/40 on MGYN and a straddle 20 on ACOR. no fill since market open.

GTXI is moving up with volume today. I think the PIN news is coming within the week and hold the 17.5 call steady.
 
got the the short strangle filled on 10 60/40 MYGN@3.75.

got filled on one leg of my short strangle of ACOR. the 17.5 puts@2.3 and a partial filled of the other leg, 1 25 calls@1.25. I'll wait for the other 9 to get filled at or better price tomorrow.

ready for hump day!!!
 
You must log in or register to reply here.
Back
Top