No putting lipstick on this pig.
music selection: “Sweet Caroline” — Neil Diamond (So Good! So Good! So Good!)
weigh-in: 203.4 (1.4) – back on the wagon
I opened a diagonal call on Celgene (CELG) on 15AUG2017. I had high hopes of earning a decent income while slowly building strong capital gains. Since that time, CELG has had a promising new drug fizzle out in clinical trials and has reported a down quarter that included lowered forward guidance. The share price has taken a beating.
My long call CELG190118C00055000 was purchased for 78.90 a share. I discovered after returning from FinCon17 that I was stopped out and then some. I sold this morning for 47.55. I book a 3,135 short term capital loss.
In positive news, the UVXY puts are performing well and are nearing my exit target. I should book around 2,700 in gains with an annualized return over 100%.
Devour your prey raptors!