Went long XBI yesterday morning. BioTech ETF

Didn't there use to be thread about emerging biotech where a doctor on the board would review names? whatever happened to that?

Would love a BioTech discussion. I have several positions including $SRPT $PRTK $AKAO $AUPH and looking to get into $TGTX $SGMO $CARA

PBI with a nice quarter. When they crashed, I bought a few long term calls. Feeling better today!

cgh1999 said:

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PBI with a nice quarter. When they crashed, I bought a few long term calls. Feeling better today!

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Yeah, when posting that one as a sleeper long trade it was noted that it might take a few quarters for improving small business environment to work its way into the revenue numbers. Starting to see that come to fruition and if Congress can pull their heads out and get capital gains tax changed then it will fuel growth.

cgh1999 said:

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PBI with a nice quarter. When they crashed, I bought a few long term calls. Feeling better today!

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Did a little happy dance this morning when I saw the news. Bought a chunk after the crash a few months ago as a longer-term hold after seeing folks talk them up here and because I liked the dividend.

oldarmy1 said:

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cgh1999 said:

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PBI with a nice quarter. When they crashed, I bought a few long term calls. Feeling better today!

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Yeah, when posting that one as a sleeper long trade it was noted that it might take a few quarters for improving small business environment to work its way into the revenue numbers. Starting to see that come to fruition and if Congress can pull their heads out and get capital gains tax changed then it will fuel growth.

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Do you still think PBI has potential to get to $20 with the right business environment? I may sell some covered calls before that on the way up. Just curious if you still feel the same way as before.

oldarmy1 said:

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Pretty easy support and resistance levels on the macro markets. That's 600+ points of movement between the support/resistance line to consider entering and selling trades, options, etc.

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hey Randy, curious why you picked the recent high vs. the all time high from Mar1? volume based? you think we peaked already, feels like it's building value here and wants to at least approach that high

that's just my random thoughts, I gave up trading on what I think I know is going to happen a while back, just curious your take on it?

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as for me just hands in pockets now, no sense at the moment taking undo heat forcing a trade with VIX wallowing around all time lows (remember folks VOL is kind of a mean reverting animal and eventually up here or especially higher, people are going to start taking more profits or at least buying protection and either way/or both VOL's gonna lift to some degree if only for a bit)...waiting for just a decent pullback or some event to spike some volatility if just temporary and jump on a new entry (either a toe in the water or little bigger if move is decent enough) . . .i can win up down or sideways and wouldn't be too worried doing my thing at these levels b/c I can still go far enough away but with just a little bump in vol it would definitely burn a bit holding something with such piss poor entry (LOL look who's finally taking his own advice )

nm ...glad I'm better at trading that using the intrawebs

Did anybody else get caught with their pants down on FNBC?

Glad I didn't have too many shares. Traded a few waves, but the last one got me!

PBI paused exactly at the filling of the gap back to January 31st. It's almost too easy to see it coming when the stock spikes like this. That gap fill now must push through and top $16.50 to have a full on stock reversal.

You can see the support in the $12's and any of those shares should be sold, if you originally purchased your major holdings in the $14's like I did. I dumped all the additional shares purchased in the $12's on the gap fill and sold $15 covered calls out to June on 25% of the primary holdings.

Markets looking to retest trend highs and should that breakout PBI will follow on with a test of the $16.50 resistance.

Ranger222 said:

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Would love a BioTech discussion. I have several positions including $SRPT $PRTK $AKAO $AUPH and looking to get into $TGTX $SGMO $CARA

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BioTech with a pretty rough day overall. I kept my stop pretty tight on XBI so I got stopped out today for a few % loss. I'm also in FOLD and IMGN. I will be out of FOLD if it falls much further. IMGN had a nasty 10% drop but large moves are pretty typical in this one. I'm up a pretty good bit so I'm looking to add more around $3.50 by the end of the week. SGMO looks pretty interesting, as well. May buy some

NVDA proving I'm still a gambler - Sold the May 12 100/109 strangle for 5.03 - break even after earnings tonight will be $95-$114.

My X, JNPR, and CMG trades from 4/26 are boring and chugging along. X and CMG are about 40% to my close point while JNPR is down just a bit. Full disclosure: these trades are a small part of my options portfolio, I typically have ~15 positions open when I can find them.

HOW DO YOU FIND THEM? SCREENER?

Basically what I want to do is start with a core position in equities (SPY, DIA, IWM, QQQ), bonds (TLT, TBT), gold (GLD, GDX, GDXJ, XME), oil (XOP, XLE, OIH), dollar (FXE as a dollar inverse), and international (EFA, FEZ, EWZ, EEM, FXI). I won't have a position in all of those, but I want to get exposure to each for diversification. Right now, volatility is super low so I don't have anything in open in equities or dollar. Other than that I'm leaning long Gold (GDXJ, XME), short oil (XOP), long bonds (TLT), and short international (EWZ). With the current low volatility environment this is only around 1/4 of my portfolio. I'd like the core to represent >1/2 of the portfolio.

In individual stocks I'm mostly filtering for liquid underlyings, high IVR (>25, this filter is available in TOS and TastyWorks) with no earnings coming up in the next 45-60 days where I want to sell the options. Once I find a stock I'll make an assumption on direction and then sell a strangle (or an iron condor for expensive stocks) biased to my assumption. If I'm heavily biased in one direction then I'll make a more defined trade (I sold TWTR Calls on May 3). Most of these stocks hit my filter immediately after earnings when the volatility is still pretty high. Right now these positions make up around 3/4 of my portfolio.

Earnings trades like NVDA and other's I've mentioned previously represent a very small percentage of the portfolio.

NVDA with monster AH move.

redsox34 said:

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NVDA with monster AH move.

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Still within my break even points - we'll see where it opens up in the morning.

Nice! Came back into the range! I hope you are able to cash out, although I hope semis remain hot as I'm in SWKS haha

Holy poop! I was heavily, heavily invested in NVDA. I was sweating it profusely with these earnings since I was so one sided. Things do work out for the best every once in a while! I'm back out of NVDA now, with only a little bit invested in them. Time to get more diverse!

Volatility hadn't dropped enough at open to close for break even so I ended up taking a $250 loss on the trade. I plan to spend the rest of the day scalping NVDA trying to get that back - already $50 towards the goal.

Edit: Also sold a June 16 110/125 strangle for $3.85. Profit target on this guy is $192 which will make me even steven combined with the scalping.

Ragoo said:

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HOW DO YOU FIND THEM? SCREENER?

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tastyworks has a great built in screener by several metrics but namely for options traders it makes it really easy to find underlyings with high IV rank, of course then you can go in and see if it's liquid enough (usually about 1 million volume/day is a minimum, minimum nickel b/w bid/ask spreads etc)...but anyways it's a great tool they offer and one of many components they build in to their platform to facilitate the style of trading they teach at tastytrade (an online broadcast and the best online options education resource and it's totally free w/ great access to the on air personalities in communicating questions/comments)

even if you guys aren't into options you owe it to yourself to get the better commissions and top notch customer service/platform


tastyworks
real quick no hassle application and quick fund through ACH

I'm not the type to sell things, but I do wholeheartedly with this b/c they've literally changed my life and asked nothing for it, other than the goodwill of spreading the word which I obviously love to do. It takes putting in the work to learn and apply, but tastytrade provides the resource to make yourself a consistently profitable, self-directed trader/investor and tastyworks allows you to apply it, with the technology and commission rates that range in a cut of overhead around 60% in some cases around the 80% mark (zero closing costs is a true game changer).

colonialag said:

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Working on that Tesla, I see

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LOL nah I'd trade it for an F-150...actually I'd be happy for the Chicago Food Package

but honestly, for years I've been shilling for these guys to my friends for free (with no incentive) just to pass on the goodwill they've passed to me for free ...it's legit life changing stuff if people put in the work/learning to manage their own money and in a way they don't have to be right on direction of a stock or the market

also they are offering free 2 years of their Bob the Trader app (built into the software) with an acct funded at least $2000 (before it was about their only revenue stream an optional subscription, but you could get everyone's trades for free, just if you wanted the big cheese, Tom Sosnoff's you could pay for that service)....I liked it a lot when I was starting b/c I could see the how and why of particular strategies and how the traders rolled things when trades went against them.... really cool where you can see the trades of most of the on air personalities and a few other traders, if you like the setup you can actually duplicate the trade in the click of a button, and if you want amend it from there and or obviously do as many contracts of it as you'd like....even if you don't do the trade their way it's another great tool to see what underlyings have some juice to them (especially in times like these with VOL this low)

Bob The Trader Redemption

pretty decent down move today if you've been keeping powder dry

ALRIGHT NVDA YOU WIN! I conceded and closed the strangle after this morning's move took back everything I scalped yesterday.

Gator2_01 said:

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ALRIGHT NVDA YOU WIN! I conceded and closed the strangle after this morning's move took back everything I scalped yesterday.

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LOL lose a battle not a war, good job by you, that's 1/2 the game....but you got some stones playing naked options for earnings...I get it juiced vol and the vol crush play the next day but really easy to get bit hard if move isn't understated, whole reason I do what I do and do it well is b/c outliers are rare vs. high odds of them happening like w/ earnings but lots of guys like you do it and do it well ..hats off to you and your brass ones

I've got 100 shares of NVDA from 98.68. Assumed 130 would be problematic from a round number standpoint. Don't like that it closed at 126.5 so I'm hoping it pops back over 127.60ish and then gives it another go. Looking for 132-136.

Bought the 120C at 2 and foolishly sold them at 3.4. HoD they were 10+.

oldarmy1 said:

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i would've killed myself tbh if i did that

I don't know. You can also look at it from a more general perspective in that anyone had the opportunity to buy shares of pretty much any company at any point and so you can't beat yourself up (or kill yourself) for not seeing the big winners.

Maybe he had a little better view, but it ain't that different. I suppose private shares are a different thing, but money is money.

I sold 1/2 of my NVDA at 118, thinking it had probably maxed out. It didn't! I sold my other half at $129. I'm thinking this is all the "fast money" propping NVDA up in the mean time. The fast money will get out soon enough and the price will level out and I'll get back in.

X kept moving against my Put, so I bought it back at a minimum gain and reset by selling a June 23 18/21.5 Strangle for $1.38 and a June 30 17.5/21.5 strangle for $1.46.

redsox34 said:

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brd79 said:

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redsox34 said:

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Its approaching channel support and a 30 RSI. looking to hold around 2 months.

Got in at 7.33

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T&P's

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Back above BE in UNG a little over a month into trade. We will see.


Purchased GLUU & FOLD this morning.

GLUU is definitely a speculative trade but is right at a flattening 200SMA. Its done well above that in the past. Have a 2 ATR stop set.

FOLD is right above 200SMA with a bullish MACD monthly crossover and a 42% short float.


Anyone else have any recent trades?

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Still holding UNG. much longer than anticipated. Trying to stay patient. up ~7% right now.

GLUU has worked out nicely so far. 9 month highs, +20% from entry, gonna let it run and see what happens

FOLD with a 7% day today to put me at BE. missed my stop a few days ago by only 12 cents. This one cant seem to get moving, in either direction. will keep sitting on my hands though.

redsox34 said:

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Ranger222 said:

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Would love a BioTech discussion. I have several positions including $SRPT $PRTK $AKAO $AUPH and looking to get into $TGTX $SGMO $CARA

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BioTech with a pretty rough day overall. I kept my stop pretty tight on XBI so I got stopped out today for a few % loss. I'm also in FOLD and IMGN. I will be out of FOLD if it falls much further. IMGN had a nasty 10% drop but large moves are pretty typical in this one. I'm up a pretty good bit so I'm looking to add more around $3.50 by the end of the week. SGMO looks pretty interesting, as well. May buy some

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SGMO has almost doubled since this post (one week).

Naturally, I didn't buy any.