IMGN

IMGN had some bearish troubles this past week with the 15+ million share offering.  Worries of shareholder dilution saw a big pullback to just south of 10.  The 10 puts may hold this week but that may be dependent on larger macro issues.  If PUT this week, hold for a gap-fill back to south of 11 over the next few weeks.

Happy trading...

COT PT @ 19

Cott Price Target Announced at $19.00/Share by JP Morgan

August 17.50 calls showing interest for a long call.  Next few months of PUTS have descent premium for a bullish sell!

Happy trading...

BOX

So nailed it yesterday on BOX 26s.  opened at 1.05, box above 26 today as expected.  These are the equities we trade!


If you missed our call, it's relatively safe to sell July 26s.  This is a stock we wouldn't mind holding if it got put to us.  Much like when we were trading OKTA at 40...


Happy trading...

BOX June 26 Strike Puts

We called May Box 22 Puts well.  After the "good" earnings report box pulled back today.  Closing at 25.75 in the AH.  Analyst came out with hold to buy and a PT of 30.  I'd say the June 26's at 1.05 are a good bet.


Happy Trading...

ANF Puts

ANF 23 Strike @ .60 for Friday, 1 Jun.  Really good volatility for Friday on both calls and puts.  Not a bad covered call setup.  They report Friday.

Happy Trading...

FEYE--Breaking Our Rules

We have been a fan of selling puts on strong stocks but this time we revisit an old and profitable friend--FireEye.

We went long calls on FEYE in this recent pullback.  Specifically the $20 Strike, 2020 LEAPS.  We are not entirely sure on the latest note selling for call buybacks but we do know the company is clearly doing the right things to turn profit.  Also, CNBC reported:

"In March, TheStreet's sister site TheDeal reported that cybersecurity firm FireEye Inc.(FEYE - Get Report) could be an acquisition target for Cisco.?

Happy Trading...

IMGN Puts Continue to Pay and SYMC should start

Closing out this months 10 Puts on IMGN that expire Friday.  These last couple of months have been great but I think we've been riding some other coat-tails as the June strikes have almost no OI compared to the 10K+ of recent.


SYMC was hammered after the internal audit but appears it may be overblown much like the BAH crisis this past year.  20 PUTS are looking good.


Happy Trading

BOX May 18 22 Puts

Box held well after today's sell-off.  ER is not until after 18 May and as highly rated as BOX is, selling puts at the 22 mark for .75 makes sense.


Happy Trading...

This Week's PUT Looks

MAY:
AA: 58, 58.50
IMGN 8, 9 or 10 ER is 4 May
GE 13, 13.50, 14 looks to be bottoming
TWTR 30's
MSFT high 80's
AMD 10

Happy Trading...

IMGN 40% profit so far 16 Apr Sell to Open

IMGN is driving higher, futures are pointing to another strong open tomorrow.  Play it safe and close tomorrow late or hang-on and go bold!

I was expecting a little more volatility in these PUTS but they are being held with some serious open interest in the 8's and 10's... Today there was some ridiculous trading at the 8's.

Looking for the next trade!

Happy Trading...

Believe in Drugs -- IMGN

It looks like Immunogen in back.  Positive Phase Is, more licenses, more products and wider reach.  Looks like IMGN should sustain current levels while waiting for mirvetuximab soravtansine to report study findings by early 19.

20 Apr 10 Puts are B .80 A .90 with huge OI  >14000.  If you believe in the reports this should make a nice returns next week.

They are talking next week, doesn't appear to be reporting on anything... 

http://investor.immunogen.com/news-releases/news-release-details/immunogen-announces-presentations-aacr-annual-meeting-0

April catalyst already reported: https://www.biopharmcatalyst.com/calendars/fda-calendar

Happy Trading...

Campers World (CWH)

I got into Campers World at IPO and sold shortly after.  This pullback is based on their acquisitions not business...  High analyst buy rating.  Good volatility on the Jun/Sept calls but they are out of the money...  30 strike puts in sept are looking good, and before this pullback has great fundamentals...

If it does get put to you, your holding a good stock w/ dividend.  I'm looking towards spring/summer purchases to show continued revenue growth.

Happy Trading...

Naked Puts

So, I have been out of time most days lately but I still trading.  I've been a fan of naked (cash-secured actually) puts with the market volatility holding good stocks back or bringing them back below support levels.  The volatility has been crazy lately but the ups and downs make selling puts on quality name equities fairly rewarding.

I've been trading OKTA, FEYE and now DDD.  OKTA 40's, FEYE 16.50s and DDD 12s.  Looking at AMD next.

So basically look for stocks you know, look at their average trade support and sell puts where you are comfortable on these pullbacks.  Nothing like a Presidential tweet to make the next morning a great trading day.  Example, and I missed this was Thursday evening's tweet that rocked the futures.  FEYE was at 16.36 in the pre-market after a rocket move the day before.  Unfortunately when I left the gym it was back into the 17.50s.  Another reason to skip the gym.

Happy Trading...