PLX Options Plan for Profiting Through 5/1/12 PDUFA
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[...] has a PDUFA on 5/1/12 (Next Tuesday) and I plan on playing around the event. I have already filled my 5, 7.5, 10 “Butterfly,” but this is what I plan on doing post approval. You can view the video HERE. It is for members [...]
[...] long-awaited PDUFA date for PLX is on Tuesday (5/1/12) and I have no position other than my 5, 7.5, 10 Butterfly. If it does get approved, I will be shorting and buying puts because I believe it will run-down [...]
Are those naked calls you sold or do you have the shares to back them up?
I do not have any shares to back them up. But if I sell the 5, or 10 calls.. I will cover the 7.5′s the same day. (Just incase more news comes out)
When you say “Long” a Call, did you buy the call?
And “Short” a Call, you sold the call?
When did you make these transactions, so we can compare how well the options have performed? i.e. at 8:01 am, the $5 call is at $2.55 vs $1.325
Do you plan on selling the options to someone else if the options price increases, or do you plan on exercising the option to buy or sell the stock and then sell/cover and realize a profit from that?
When I say I am “long” a call, yes I purchased the call.
and when I am “short” a call.. I did just that. I shorted the call (i.e a negative position)
I made the $5.00 call purchases on: 3/7/12 (Bot 4 at 1.25) and on 3/19/12 (bot 5 at 1.40)
I can either hold till options expiration and you will see the totals seen in the game plan. Or I can sell/cover them as it spikes and runs down. I have personally not decided yet.
Hope some of this helped, let me know if you have any other questions.