Shared by
skipjackrick
-$50 loss. Lucky that the options held value. This stupid stock has a ridiculous valuation. I just don't understand it. I figured there would be sellers into this ramp. Nope, soak some more up here.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-04-08 09:46:00 | MAY15 15 25 PUT | buy | $0.7500 | long |
| 2015-04-08 11:25:00 | MAY15 15 25 PUT | sell | $0.7500 | long |
| 2015-04-08 11:25:00 | MAY15 15 25 PUT | sell | $0.7000 | long |
| 2015-04-08 11:25:00 | MAY15 15 25 PUT | sell | $0.7000 | 0 |
Comments
skipjackrick
$1.7B valuation being placed on this HAE phase 1 data. They didn't even include the data for the other doses.
Market potential is $600M tops.
And the overall market is giving this the thumbs up for a $1.7B bump? Just ridiculous. I didn't get caught because I took the puts. I almost shorted shares but wasn't sure how it would behave. Yeah that small secondary on this massive float barely even a dilution. I honestly think these buyers are going to get their dicks chopped off real soon. This is stupid.
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
Hey mate, this thing had a secondary offering today. Underwriters were trash, but it was just 7M shares on a 130m float. I was bearish as well, but when you see a stock running right out of the gate on a secondary, it's usually a very bullish sign. The entire secondary was probably soaked up today and it ramped up into the close as well, so I guess there is more upside to it.
We probably see additional corporate actions. I can't imagine someone buying into that POS on a simple Phase 1b. And it's not even an overcrowded short...