I loaded up on 4/20 $2.50 calls last week when they sank to $0.05...

I have no idea what will come at the presentation.

Those are going for super cheap at 8 cents

oldarmy1 said:

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IrishTxAggie said:

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Not sure. There was no scheduled call for tomorrow that I'm aware of, but I believe they are supposed to present at a conference in Europe this week. Towards the end of last year, It was floated that Jazz Pharmaceuticals was interested in acquiring and the price floated was in the $14-18/share. Jazz has the licensing agreement in the EU for FOTIVDA. They could be trying to get a buyout agreement in place before the new Phase 3 readout catalyst because if the readout is as everyone suspects it should be, AVEO could see $7+ very quickly and a buyout would be imminent from there.

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Well if there is a conference tomorrow and you really think something big coming grab some April 20 $3 options. One thing we know is there were over 9 million shares traded Friday and today less than a million, so the larger buyers certainly did not take profits.

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That is some high IV on those options...

Ugh another large sell off to end the day...

klsmith89 said:

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Ugh another large sell off to end the day...

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Trumps lawyers office just got raided by the FBI. This could get ugly really fast.

FriscoKid said:

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klsmith89 said:

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Ugh another large sell off to end the day...

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Trumps lawyers office just got raided by the FBI. This could get ugly really fast.

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https://www.cnn.com/2018/04/09/politics/michael-cohen-fbi/index.html

Quote:

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The FBI raided the office of Michael Cohen, a personal lawyer and confidant of President Donald Trump, The New York Times reported Monday.

Stephen Ryan, a lawyer for Cohen, said the US Attorney's office for the Southern District of New York had executed "a series of search warrants and seized the privileged communications" between Cohen and his clients, according to the Times.

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Shocker...

Up next on " how the Trump turns"

SoupNazi2001 said:

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The market had already turned well before that story came out. It is a volatile market and the bounce failed. Not every move has to be explained by news although it makes some feel better if they can rationalize the price movements. More important than that, the Chinese President has a major speech tomorrow and could stoke the fire more. Makes sense to stay risk off until his response and tone is known.

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Oh I agree. I was watching charts the whole day. But, this news and Xi tonight could make for an interesting morning.

SoupNazi2001 said:

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The market had already turned well before that story came out. It is a volatile market and the bounce failed. Not every move has to be explained by news although it makes some feel better if they can rationalize the price movements. More important than that, the Chinese President has a major speech tomorrow and could stoke the fire more. Makes sense to stay risk off until his response and tone is known.

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And, you are absolutely right about the bounce too. It's sticking around the cliff again. A big bounce would have been good if you wanted it long.

I was having a hard time reading it in the morning. Looks more clear now though IMO.

Xi mentions some vague conciliatory promises to open China to investment, stop forced agreements, lower vehicle tariffs. Not sure Trump buys it but I believe futures are up.

Link by chance?

https://trib.al/8ceInP9

Thanks

Xi saying the right things. Hopefully setting the stage for the real work to begin behind the scenes to tackle trade differences issue by issue.

Futures +250

I think it's short sighted to think that they're not willing to give in some. Xi doesn't want the unrest while he's seeking to have the term limits lifted in China and they have far more to lose than us in a trade war.

IrishTxAggie said:

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I think it's short sighted to think that they're not willing to give in some. Xi doesn't want the unrest while he's seeking to have the term limits lifted in China and they have far more to lose than us in a trade war.

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I tend to believe you.

If we fly tomorrow that's fine by me.

GE back above $13.

Be a very interesting day. Do markets break the short term resistance below mid-channel and come up for air above it? Or is this, combined with recent volitilaty, an upheaval short clearing move ahead of a breakdown?

We have China providing the juice bounce and plenty of government hawkish moves going on; not to mention Trump's attorneys office being raided, with Trump clearly pissed off this morning.

Should he start firing Sessions and others the fuel to the downside will make China fireworks a Party Popper (see what I did there?)

I shorted the S&P Futures spike above short tetm resistance at 2651 just to carry into opening. Make me cover markets!

GE major support crystal clear. Resistance not as clear so you typically take the candle portions and, sure enough, they show where true resistance sits. On momentum stocks can move outside the range which is why it takes volume and follow through for confirmation.

S&P couldn't reach pre-market highs yet. Short covering opening to 2649.50 and DOW hit above +400 before the short covering fun ended. Now its up to actual buyers believing in a rally.

Staying short with the pre-market 2650.85 shorts until/unless the markets want to make me cover - or give me 30 points.

Speculative trade on TRX. Mining stock. Trade simply based on chart.

Thank you S&P. You cost me exactly 1.2 points loss while sending all call options smoking upward. Hedge closed

It snapped quick...

Zack testifying in a bit. Will be interesting to see how hard he gets pressed.

leoj said:

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Zack testifying in a bit. Will be interesting to see how hard he gets pressed.

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I saw where facebook donated to something like 45 out of the 55 committee members in which he is testifying. So I wouldn't expect C.uckerberg to be grilled too hard.

OA, what's your strategy on SN with days like today... up almost 12% but you have it doubling in less than a year.

Do you take some profits then hope to buy back at a slightly lower price and start all over?

what say you said:

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OA, what's your strategy on SN with days like today... up about 10% but you have it doubling in less than a year.

Do you take some profits then hope to buy back at a slightly lower price and start all over?

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Yes, thats what I did but albeit with $WRD. They are a pure eagle ford shale play, I like how they operate. I bought at $11.50 last year, held and then they've gotten into the low $20s earlier in the year. Sold part and still held, watched them go lower to $16's, bought more and am planning on holding longer term.

Basically....hold a core group of shares and then acquire and sell throughout the swings to make some profit on top. I'd just make sure to sell in a LIFO style and hold the shares with lower cost basis.

what say you said:

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OA, what's your strategy on SN with days like today... up almost 12% but you have it doubling in less than a year.

Do you take some profits then hope to buy back at a slightly lower price and start all over?

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sell covered calls, close at 50% profit, repeat

Lurker here... out of curiosity how much cash do you day traders typically have in these daily transactions? 50% profit looks great but 50% of what?

BoilerAg10 said:

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Lurker here... out of curiosity how much cash do you day traders typically have in these daily transactions? 50% profit looks great but 50% of what?

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You can sell a covered call and pocket the premium, but if you don't want the time limit to run out you can buy the option back.

So if you sell the call for $1,000. You might buy back to close the options for $500.

So you are still $500 up (or 50% of the premium).