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ARNA had a low of 7.23 and a high of 8.24.
Once it got above 8.00 it went up when the Dow went down, and the reverse.
These stocks seem to move on their own accord.
I know ARNA is awaiting approval for one of their drugs in Europe.
I had just sold the damn $8 calls for 12 cents. THEN, not last week, or yesterday, or tomorrow, it went straight up.
I sold the $8 puts for 26 cents.
So, it can not go both ways, and close both above and below 8.00.
If it does, I'm out of the stock market for good and will invest in pork bellies or real estate.
Sold my NAVB for 3.98.
I gave it over a month to get near 4.55. It was 4.35 at the time that I bought, so I only needed a meager 4.5%.
So a 57 cents loss per share.
It was 3.78 earlier today. That may be a Friday-weekend FDA run-up.
If it falls back below 3.80, I'll re-enter.
I do have the August $4.00 call in case some miracle happens before today at 5pm EST.
If no miracle, they'll expire worthless and have a 55 cent loss per contract.
I've got OMPI, and DNDN, and ARNA, and they are easier to manage with weekly options.
I'm starting to feel that staying in NAVB may be the way to play right now. The biotech hedge fund players have pounded it down and have to be covering at this point, and once they cover, the stock will run back up into PDUFA, while the hedge funds set up to short it again at the approval highs. I still believe we'll see a high somewhere around $5.50 prior to PDUFA. If the FDA approves it early, then my theory goes out the window.
I bought some NAVB at 3.60.
I bought October $3.00 puts.
Let September 10th arrive soooooon.
I have some January 2015 $3.00 calls on NAVB. Nothing to do but let it ride.
AMRN is expecting NCE from the US Food and Drug Administration and the expected date was today.
It's 4:30pm EST.
Would you know if it is past the time of day when they FDA would make an announcement?
I read somewhere that if the NCE was not announced today, then shareholders would have to wait another month. That implied these NCE announcements are once a month.
Is that your understanding of the process?
treasurekidd:
Does the FDA make rulings on Sunday's?
DVAX is scheduled for Feb. 24th.
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