market speculation for October

[disneysteve]

In at 6.51 on AFFY.

You beat me. I got in at $6.54.

[Slug]

Selling the AFFY Feb 8 covered calls for only .25. Come one come all.

[KTP]

Might take another look at Vanda (VNDA). It is being manipulated right now as it is trading very very close to cash on hand (market cap 230 mil, cash on hand 200 mil). They also have a drug already approved and going to market.

It is kind of similar to affy in that they both have large cash reserves...

[Slug]

I've watched iloperidone for about 5 years now. That's Fanapt, the Vanda drug. It's been a dog for a long time. 4,000 Rx in June and 6,000 in Sept. is not the kind of uptake curve you want in the atypical anti-psychotic market. However, none of this matters in this class because the pricing is so good 6,000 Rx times 30 pills per script times $10 per pill is almost $2M per month in gross sales. Gross to net is probably .8 or better so net sales is roughly 1.5M/mth. $18M/yr is a rounding error to most of the drugs in this class. With generic risperdal already available and not much patent life on the rest plus ever-increasing payer pressure, the good life in the atypical antipsychotic market with regards to price is coming to an end. That said, I have no idea where VNDA goes from here.

[Slug]

Selling the AFFY Feb 8 covered calls for only .25. Come one come all.

Up ~10% now in AFFY. Still trying to sell these calls.

[Slug]

And....back to where I bought it. Unfortunately no takers on my calls. I might pick up a few hundred more if it continues dropping this morning.

[Slug]

Doubled up @6.59. Maybe I'll be less greedy on me covered call prices now.

[KTP]

Doubled up @6.59. Maybe I'll be less greedy on me covered call prices now.

Did you see what happened to Orex today? Nasty!

[Slug]

Ouch. That's actually worse than Borders saying they are going to file for bankruptcy next week. Glad I've touched neither.

[Slug]

Sold some AFFY 6 April puts in yesterday's sell-off. We'll see how it goes. What are you doing Gambler?

[disneysteve]

You beat me. I got in at $6.54.

Got out of AFFY today at $7.20. Of course, as per my usual luck, it continued right past that level but I'm not complaining because it could also have dropped back to $6.

Made a 10% gain in 7 weeks. I'll take that.

[gambler2075]

Got out of AFFY today at $7.20. Of course, as per my usual luck, it continued right past that level but I'm not complaining because it could also have dropped back to $6.

Made a 10% gain in 7 weeks. I'll take that.

Way to hold... at least you didn't get shaken out from 6.25 to 6.05...

[Slug]

Selling at $7.60 now. Thanks for the note that it had moved.

[gambler2075]

Made a 10% gain in 7 weeks. I'll take that.

Is that more than a mutual fund gets you?

g

[disneysteve]

Selling at $7.60 now. Thanks for the note that it had moved.

You're welcome. I actually had an open limit order at $7.20 so I didn't have to follow it. One reason I don't do more trading is because I don't have the time to watch things well enough.