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    The Biotech Trader Lounge

    I can't keep track of all of our conversations across the 5 or 6 threads we started about trading biotechs so thought I might start up yet another one

    Remember back a few months ago I mentioned a little stock called OxiGene? (OXGN) It did a reverse split a few weeks ago to get out of the penny stock status and then traded around $1.51 to $2 for awhile but this week has exploded to $3 and climbing (up another 50% today). Anyone have any more info on why?

    I had 5000 shares at $0.21 but sold them awhile back for $0.26...kind of wish I had held now lol. (I do realize that would be only 500 of the new shares btw).

    #2
    Yes, it somehow ended up on my yahoo watch list and it's up 54% today. . .amazing stuff. . .wished I had been invited to that party.

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      #3
      No clue on OXGN.

      But, I like this topic. Biotechs I'm holding:

      AGEN
      ARIA
      AVII
      FOLD
      MSHL
      NEOL
      NVGN
      TELK

      Probably not particularly useful since you don't know why I'm holding them, but hey it's the weekend...

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        #4
        AFFY has taken off again! I got in several days ago at $6.30 (a bit early since it dropped near $6). Maybe this is the start of a decent run!

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          #5
          Originally posted by KTP View Post
          AFFY has taken off again! I got in several days ago at $6.30 (a bit early since it dropped near $6). Maybe this is the start of a decent run!
          I was able to sell my covered AFFY calls this morning. Locked in a reasonable gain and 10 days for it to fall back out of the money. A good day indeed!

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            #6
            Originally posted by Slug View Post
            I was able to sell my covered AFFY calls this morning. Locked in a reasonable gain and 10 days for it to fall back out of the money. A good day indeed!
            The call options expired worthless. A couple of days later AFFY is back over 7 and I've sold them again. I like having a low priced range-bound stock that I really don't care about owning. If I get called, I can just buy some more when it goes back down again.

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              #7
              Look for Generex to hit it big.

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                #8
                Originally posted by Slug View Post
                The call options expired worthless. A couple of days later AFFY is back over 7 and I've sold them again. I like having a low priced range-bound stock that I really don't care about owning. If I get called, I can just buy some more when it goes back down again.
                I know it is not a biotech but I did the same thing you are doing with Nokia

                I bought 2000 shares at 6.50 and later in the day sold Oct $7 call options against the shares for $0.60 each. Kind of like AFFY, I don't really care about owning the stock, but the downside is pretty limited at 6.50 (would have to drop to 5.90 before I lose money on the trade now).

                AFFY was down a bit today. I might get back in again if it dips to my usual buy price ($6.15). The stock trades like an ATM machine.

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                  #9
                  i am a huge bagholder in cvm -_-

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                    #10
                    Tomorrow my AFFY options expire worthless again *fingers crossed* Hopefully by another quick run to 7 so I can sell'em again.

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                      #11
                      I call bounce time on ACUR at 3.79... has had a nice rundown from the 6.80 high after approval. Target would be 4.30-4.50 ish. Looks to be double-bottomed... no position.

                      g

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                        #12
                        The options are really thin on ACUR. I'm waiting and watching. Any chance Pfizer would just by them or have you examined the deal terms?

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                          #13
                          Originally posted by Slug View Post
                          The options are really thin on ACUR. I'm waiting and watching. Any chance Pfizer would just by them or have you examined the deal terms?
                          I have never seen a buyout after FDA approval... the pumpers are always calling for it (AMRN buyout at 25 (when AMRN was at 18)) but it is just a bunch of BS.

                          g

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                            #14
                            Originally posted by gambler2075 View Post
                            I have never seen a buyout after FDA approval... the pumpers are always calling for it (AMRN buyout at 25 (when AMRN was at 18)) but it is just a bunch of BS.

                            g
                            I know! Everyone always talked about Avanir getting bought out but nothing came of it. I did make almost 100% gain on that stock recently trading the $2.50 options. I got really lucky buying them at $1.00 to $1.20 and selling them all at $2.05. Almost got back in the other day but am scared of the market right now.

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                              #15
                              DRRX and PTIE apparently get a CRL, at least that is what one pretty reliable source says. No PR yet.

                              g

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