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Covered call strategy is working well so far with the low historical volatility (stock staying flat) and high implied volatility (amount the stock may move). This causes the option premium to be extremely overvalued. If you sell this premium against your stock stays flat, you can pay yourself while waiting for news to move the stock.
My positions
Covered call strategy
Bought the stock at 2.65 and sold January 4.00 calls against the shares at .40. I’ll buy them back today at .05 for a .35 gain essentially lowering the cost of my stock down to 2.30. I will sell Feb calls on the next pop at resistance to continue bringing in income and lowering the cs it’s of my shares.
Long term equity appreciation strategy.
Trades made in April 2021
14 APRIL Bought 20 contracts of Jan 2023 2.00 calls at 1.60. This cost me $3200.00
22 APRIL Sold 20 contracts of Jan 2023 19.00 calls at 1.30. This paid me $2600.00.
Max risk (loss) $600.00
1.60-1.30=.30
$ 0.30 x 20 contracts = $600.00
Max Gain $ 16,000 if SENS is above 10.00 on expiration.
$10.00-$2.00= $8.00 x 20 contracts=$16,000
Breakeven SENS stock price on expiration: $2.30. There is a $20.00 increase in profit for every penny the stock is above 2.30.
I’m considering buying back the 10.00 calls soon in anticipation of a rise in stock price and selling them again at a higher price if the stock pops. They are trading .50 right now which would cost me $1000 to buy them back for a $1600 gain on those contracts.
Will continue to update the trades as they occur.
Good luck traders.
#SENS ?? FDA approval expectation and swing trade idea! what is the price target for the catalyst!
Senseonics Holdings Shares Spike Higher; Co Reiterates FY21 Guidance; Sees FY21 Global Net Revenue To Be In Middle Of Guidance Range Of $12M-$15M
4:48 pm ET January 4, 2022 (Benzinga) Print
Senseonics Announces Business Updates
Senseonics Holdings, Inc. (NYSE:SENS), a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced operational and financial business updates.
Operational and Financial Updates
Substantive review with the FDA for the PMA supplement for the next generation Eversense 180-day CGM system is nearing completion, all queries raised have been answered and a decision regarding approval is expected in the coming weeks
Designing plans with Ascensia Diabetes Care for a smooth transition to the 180-day system in the U.S., pending FDA approval, including:
Marketing campaigns to highlight the availability of system upgrade programs for patients and to increase overall patient awareness
Payor engagement regarding reimbursement and coverage transitions
These plans are being designed with a goal of minimizing the impact to patients, providers and sales, taking into account the expected use of existing inventory in Q1 2022 and initiating transition to the new product in Q2 2022
Reiterating 2021 financial outlook expectation for full year 2021 global net revenue to be in the middle of the revenue guidance range of $12.0 million to $15.0 million
"We understand that the FDA is at full capacity managing the backlog of COVID-19 related filings creating longer than expected review timelines. We are confident a decision regarding approval of the 180-day system will be made in the coming weeks as the FDA continues to clear out the backlog," said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. "In 2021 we integrated operations and coordination activities with our commercial collaborator Ascensia Diabetes Care. A thoughtful go-to-market strategy is being designed to target a smooth transition to the 180-day system while providing uninterrupted service for patients, providers and payors. We are excited to advance long-term solutions for people with diabetes as we continue to aim to make the new 180-day system available in the U.S.."
About Senseonics
Senseonics Holdings, Inc. is a medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM systems, Eversense® and Eversense® XL, include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.
Forward Looking Statements
Any statements in this press release about future expectations, plans and prospects for Senseonics, including statements about Senseonics' expected net revenue for the full year of 2021 and the full year of 2022, the timing and outcome of the potential decision on the 180-day Eversense system from the FDA, the timing, effectiveness and readiness for launch of the 180-day Eversense system, the ability to collaborate with Ascensia Diabetes Care, the ability to smoothly transition patients, physicians and payors, the impact of existing inventory and transition timing on financial results, the ability to manage such impact, and other statements containing the words "believe," "expect," "intend," "may," "projects," "will," "planned," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: uncertainties in the regulatory approval process, uncertainties inherent in the commercial launch and commercial expansion of the product, uncertainties in insurer, regulatory and administrative processes and decisions, uncertainties in the duration and severity of the COVID-19 pandemic, and such other factors as are set forth in the risk factors detailed in Senseonics' Annual Report on Form 10-K for the year ended December 31, 2020, Senseonics' Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 and Senseonics' other filings with the SEC under the heading "Risk Factors." In addition, the forward-looking statements included in this press release represent Senseonics' views as of the date hereof. Senseonics anticipates that subsequent events and developments will cause Senseonics' views to change. However, while Senseonics may elect to update these forward-looking statements at some point in the future, Senseonics specifically disclaims any obligation to do so except as required by law. These forward-looking statements should not be relied upon as representing Senseonics' views as of any date subsequent to the date hereof.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220104006026/en/
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
#SENS ?? FDA APPROVAL coming in weeks! Business update! Should you get before the FDA approval?
I fear you may be correct. Dilution will likely keep this one low
I appreciate the suggestion. I will wait till Jan then dump it hopefully at 4.50. I think FDA won't matter with all the shares outstanding now.
Have you considered selling covered call options against your shares.? Today I sold Jan 4.00 calls at .40 against my stock I bought in june at 2.65. That 4.00 ceiling seems tough to break through. Might as well take advantage of the overpriced option premium.
The way the ceo. Has increased the shares. Diluted the price I'm just looking to get out of this thing. In the $4 range. I'm So, tired of hearing about the FDA approval. Which frankly, I don't think it's going to matter. There's so, many shares out there now. Not wasting another, year on this garbage
Put in a order thru Etard today for 5,400 shares and it takes 14 different transactions to fill the complete. Is the A/S that slim here?
Without the FDA approval. Its not going to explode. This has been based on this for over a year.with earnings possible and it could explode. But, without that approval. This thing is just going to languish on and on and on.
I’ve been holding for a while but it looks like time to add shares. I see a huge breakout ready to happen. Good earning news, upcoming FDA decision……..This stock could explode!
“We are encouraged by the excitement demonstrated by patients and HCPs for the 180-day sensor in the US and we are pleased with the progression of the review and are hopeful the FDA will reach an approval decision in the coming months based on the positive PROMISE Study results. We look forward to launching the new system shortly after approval.”
#SENS ?? Earning next Week! FDA approval and Price target! Should you buy now or wait?Price analysis??
It's quite obvious that the FDA approval is being held up from one of the other diabetes companies because they don't want to see sens go up that quickly. There's no other reason this nonsense about covid holding things up is an absolute ridiculous excuse.
So you see it hitting last high 5.56? The FDA is way too slow for . since its being used in Europe already.
SENS...$3.20...Bullish Harami Cross Reversal Pattern to the Upside...Back in with a starter on this Pattern...
Last move failed to Break/Hold that $5.50 Double Top...Looking for that Break/Hold on this next Upside move...imo...we shall see...
Chart... https://schrts.co/iajrANpn ...
georgie18 Saturday, 07/03/21 12:27:59 PM
Re: georgie18 post# 671 0
Post #
696
of 729
SENS...$3.51...Bullish 3 Gap Downs Reversal pattern to the Upside formed on this Overbought Retrace...
Previous $2.08 range alert saw a move to the $4.50 range...Took profit on that move and back in on this Reversal Pattern...
Break/Hold the $5.50 range Double Top takes SENS to Blue Skies Territory with No Topside Resistance...imo...we shall see...
An impressive alliance...
https://www.ascensia.com/partners/
Institutional holdings have doubled in the last year...
https://fintel.io/so/us/sens
Hmmm, not sure why the Big Boys want this to be independent...
Just took a brief look on the technical (only):
1. Still the dailies are in downtrend. And strangely the weeklies remain in uptrend. Kind of a contradictory status. Yet unresolved technically.
The P&F Pattern still indicates Double Bottom Breakdown as of on 24-Sep-2021. No change in price chart patterns
I do not know about the Fundamentals of this stock. I am very much involved in my stocks and doing fine.
October could be a real challenge in the larger stock market, in general.
I understand it's not a good feeling that you have. It's a personal challenge. I hope you make your decision based on your knowledge of the company using both T/A (in the short term) and the Fundamentals for the long term.
GLTY
Any thoughts for October on thisstock.? is going to start going in the green again. cuz I took a bath for this month on this stock. I'm wondering if this is just a bunch of BS
on this company. I know that we all have been waiting for the FDA approval but, obviously they're a bunch of old people that can't find their way in the dark.
Thank you very much for the update I appreciate it immensely. I will hold it to the end of the year or when the FDA news comes out hopefully we can get a short squeeze all the way to $25 a share which would be fantastic
Ralph11,
The Technical view alone shows this is not a trading stock imo.
End of August it had a golden cross and both the 50 & 200 sma are in uptrend. Looking good.
The Fundamentals appear promising. The 52 week range $0.3497 - $5.56 Today's closing price $3.59 up $0.10
The volume/price dynamic was interesting and a bit puzzling to me.
The Weeklies indicate in uptrend whereas the Dailies still indicating a downtrend, for about 2 weeks this being the third week. That seemed strange to me from a technical perspective and it coincided with the larger market downturn because of the Chinese news. A short term situation as of now.
Yet, normally the Dailies lead the Weeklies into an uptrend.
My selling was based on it only in one of my accounts. I am pursuing more attractive yet riskier stocks.
SENS share price will depend on new developments and progress with the company.
I wouldn't trade this stock based on the short term fluctuations to catch small profits at this time and at this price level.
Cheers & GLTY
I bought 1000 shares today at 3.56pps. Total of 10k shares. Any opinion on range to exit or hold till FDA announcements?
Most appricate it
Ralph11,
I am following the signals and I will let you know about the timing.
I still have shares in my second account. I need to do the checking.
I think it may take some time given also that the larger market environment has challenges.
Cheers and GLTY
You were correct on dumping. Wonder when it will reverse.
Dumped my SENS shares in one account as the P&F Pattern indicated today a Double Bottom Breakdown. Taking small profits only.
It appears the downtrend seems more likely for the short term.
I will wait until it changes.
GLTA
Ralph11,
Technically the Dailies have been in downturn since Sept. 8th for the last 6 daily sessions of trading. That was a change since my last post.
It was disappointing to me. I also thought of selling my positions in 2 accounts.
However the Weeklies remained in uptrend even as of today. That means the Price/Volume dynamic is negative for the last 6 sessions as of now but whether that will drag the Weeklies as well appears questionable at this time.
For the upturn the Dailies must be in harmony with the Weeklies. It's the Dailies upturn in a week that leads to the Weeklies confirming the upturn.
In case the Weeklies change to a downtrend, then it may take many weeks or months to get to a change to an uptrend. The breakout in the P&F Patterns on Aug. 26, 2021 had been aborted on Sept. 8th by the Dailies.
The Dailies lead the Weeklies for a confirmation of the uptrend. Unless the Dailies bring in the Weeklies into a downturn.
We may know more which way the trend will follow soon in the short term.
We shall see.
Cheers and GLTY
We need FDA approval sooner than eoy.
I'm holding thanks LRD !
Hold on. Sens is going to take off. Very soon
My long term strategy:
Buy ling term calls on a dip. When the stock pops and reaches resistance, sell short term calls and let them expire worthless, collecting premium and lowering the cost of those long term purchases until they are free riding.
Trades:
Apr 14 I purchased Jan2023 2.00 calls at 1.60
Jun 11 I sold weekly calls at .40 that expired on Jun 18 netting me max gain and lowering the cost from 1.60 to 1.20.
The option chain on SENS is priced for a .50 move in the stock price between now and September expiration. I’m planning on selling the 4.50 calls for .40 or higher again this week in hopes they expire worthless.
Why are they loosing so much money if the 180 day is approved in Europe, and they have a sales force over there?
Good for you Ralph11,
Today, P&F Pattern Ascending Triple Top Breakout on 26-Aug-2021.
Go SENS!
See Chart
https://stockcharts.com/freecharts/gallery.html?SENS
Cheers & GLTY
PS: I have shares in two accounts.
It's all the way up to $6 by the announcement of the FDA approval. After that it will be double digits. I am so glad I didn't sell. When they show two quarters off of big sales from the approval it probably will be bought by the big boys.
SENS is technically in good direction. Appears first to conquer 4.
Both the Daily and Weekly are in harmony in direction price up move.
We shall see.
Cheers and GLTA
Really nice day here on Friday…looks like the market may be anticipating some good news we know is coming soon.
Well it missed on earnings. So, why am I still owing this stock? I guess waiting for the approval. Which I heard all the excuses. I will till end of year . Then take it at a tax loss. With this stock I can have time to buy it back.
I added in the dip in the $2.80 range, glad I did.
Back above $3. The climb to $4 should not take long. Buy more here or buy calls?
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