1/20/14 Update

Took a pretty big hit on AMRN Jan $2 calls last week.  I, along with many AMRN folks, did not see the double delay. My 5k game plan was simple; load up on AMRN Jan 2 calls knowing I will either lose premium if negative outcome OR have a multiplier if positive outcome. I am still bullish on AMRN spa. The FDA would have issued a CRL at this point. Anyways, there are so many blogs on the AMRN debacle so I’ll save my breath. I sold the calls for more than 50% loss.

Net loss of $2000 on the AMRN play.

Total Account after AMRN: $3200

My next play is a non-biotech, PLUG. I have purchased 150 Feb $6 calls for .10 ($1500 outlay). The chart looks hot and the retail hopium is off the charts. I am looking at a price target for sell trigger of 4.75-5.25

plug

I will be watching closely so as to preserve value and not let Theta degrade this play. If it doesn’t move this week, I will exit.

5k

 

One thought on “1/20/14 Update”

  1. Just my two cents, PLUG might move this week after Mr. Marsh return from China trip. Judging by the photos posted on FB he’s having a good time. Should have some positive PR this week, considering how nervous he was during the last biz update. No position on PLUG though, might re-enter in the next few days. Good luck!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>