DESPERATELY need advice on POZN & CYTX PLEASE!!!!!
My portfolio ($50K to start, invested entirely in "call" stock options) has lost about 3/4 (75%) of its value in the last 3 weeks. My current holdings are POZN June $10 & $12.5 calls (down 70%) and some CYTX June $7.5 Calls (down 50%). I'm also down on May calls for ACUR and QCOR but those have dropped so low that it would cost me almost as much to sell them for $.05 as I would get in return so I'll just hang on and hope they turn into something.
Many of the posters in this forum seem to be extremely knowledgeable and more importantly, kind-hearted. I'd really appreciate it if you guys could let me know your thoughts on possibly selling those call options and buying AEZS, SNSS, ACAD or maybe something else. I know that none of you guys have a crystal ball and I wouldn't hold you responsible for anything you suggest...it's my decision....I'm just looking for your feedback and would be grateful if you could let me know which of the two scenarios seems more likely in YOUR opinion:
1) POZN gets to $13+/share and CYTX gets to $7+/share by mid June...making my calls worth something and allowing me to at least sell them back for half of what I bought them (instead of a quarter which is the case today).
2) SNSS, AEZS, ACAD, CLDX, BPAX and/or some other stocks you could suggest DOUBLE in value by mid June (after/during ASCO).
Thanks in advance for your help guys. The good news is that this isn't my rent or grocery money so it's not like I'll be on the street but the bad news is that this is my ENTIRE investment portfolio.
