ELN blew all our profits!
It’s worse now as they just got more bad news on Tysabri as two more patients got PML in a study and that was the fear that originally killed the drug and knocked the stock all the way down to $3 and change a couple of years ago. So total disaster on those now and we’ll probably make a killing plaing it in the DTP but not in this portflolio, where we’re just screwed. Coming down from $35, I’m not sure a full butterfly would have fared much better and I’ll give some thought to taking long puts in the morrning to begin a leg where we can sell puts but if we can get out with $3K ($1.50 per share), I think we should just walk away from this one.
AAPL is fine and BIDU is high but either they are wrong or GOOG is wrong so we’ll see. FSLR flwe down into the close, back at $284 and on track after all that. We’re still up 75% on the puts and they are still a rip-off to buy out. MA we did buy out the caller of and now we’ll wait, hard to say they didn’t bounce when the whole market tanked:
|Description||Type||Cost Basis||Opened||Sale Price||Closed||Days||Gain/Loss $ %|
|4 Aug 2008 160.00 AAPL CALL (APVHL)||SC||$ 1,960.00||7/24/2008||$ 2,590.00||7||
|4 Aug 2008 165.00 AAPL CALL (APVHM)||SC||$ 1,810.00||7/23/2008||$ 2,830.00||7/24/2008||1||
|6 Oct 2008 160.00 AAPL CALL (APVJL)||LC||$ 9,700.00||7/21/2008||$ 7,200.00||10|