Just a quick note: DNDN just took out 52-week high. We already have a butterfly spread on DNDN back from early Feb. See the link: http://fahadstockworld.blogspot.com/2010/02/dendreon-dndn.html
The spread has expanded to $2.60. Entry was $2.35. Not taking any actions and still holding the full postion.
Separately, we just had another bad 10-year auction. This is exactly what we expected and the TBT 47/50 call spread in March we did is now going for $1.75. We got in for $0.88 last week. That's a double people!! I got out yesterday and I would recommend taking profits here. Here is the original trade: http://fahadstockworld.blogspot.com/2010/02/taking-another-shot-at-shorting-us.html
Lots of good trades working here!!
About Me
- Fahad Khalid
- Chicago, IL, United States
- I have Masters in Business (Accounting and Finance 2003) from Michigan State University. I have been trading the market since 1998. Prior to picking up trading as a full-time career in 2008, I was a management consultant at Alvarez & Marsal and Conway MacKenzie for four years. I provided turnaround, crisis management and restructuring services to financially distressed firms. Prior to working in turnaround, I worked in Audit & Assurance at Deloitte & Touche for two years. Trading in the market has always remained my side business ever since I started college. 90% of the time, I trade through options. I love volatility skews and positive Theta plays. While I make a lot of directional bets, in general my favorites are to take advantage of high implied volatilities through calendar or butterfly spreads and vertical credit spreads. I never buy straight calls or puts and I do a lot of exotic multi-leg option trades.
Visitor Locations
