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Earnings premarket tomorrow.
Holding jan23 2.50puts at .46. I expect more downside over the next few months.
Long term puts paying off nicely.
I am. Just waiting for the next pop to sell some short term calls against my LEAPS.
16sept 10.00 and 7.50 puts doubled in value today.
You are correct in your strategy. If you sell them at .80 and it closes above the strike you keep the premium. If it closes below it you are put the stock at a cost of 1.70. If it closes ATM you may or may not be put the stock. You could close your contract for a few cents though. Whenever I am put the stock, I then sell covered calls against it until you are called out. Then go back to selling puts.
I typically only sell puts out three months because it takes so long for the premium to decay if you go out longer in time.
My favorite long term hold.
Holding 2024 2.00 calls at .30
Holding stock at 1.83, selling covered calls against them on pops.
Senseonics Holdings' Elevance Diabetes System Secures Coverage Under Elevance Health; Shares Rise
8/3/22, 11:18 AM
11:18 AM EDT, 08/03/2022 (MT Newswires) -- Senseonics Holdings (SENS) said Wednesday that US insurance company Elevance Health has agreed to provide coverage for the Eversense continuous glucose monitoring system.
The device is designed to continually measure glucose levels in people aged 18 and over with diabetes for up to six months. It is meant to replace fingerstick blood glucose measurements for diabetes treatment decisions.
With the Elevance Health coverage, over 45 million people across 14 states would be able to add the Eversense system to their health plans, Senseonics said.
Shares of the medical technology company were up more than 16% in recent trading activity.
Sorry I wasn’t able to respond quickly.
That’s decent premium on those May 3.00 puts. They already gained .20 in profit over a week. I think it is still good premium to sell at 1.22. I probably would not buy the May calls unless I was expecting news or an event regarding the company. With the stock trading so low the only calls I’ll buy are LEAPS.
I understand your reasoning for going out that long in time. I use this strategy to buy stocks short term but in a case like SENS where it’s a penny stock it’s difficult to collect premium out of the money with short term strikes.
I don’t know the answer to the buyout question. In all the years I’ve been trading that situation has never occurred to me. Probably would be best to ask your broker.
My strategy to selling naked puts is short to mid term time frames, typically no longer than 45 days.
Update on Positions. New option position.
I rolled the Jan 2023 2.00 calls into Jan 2024 2.00 calls. It cost me .30/contract to execute this trade.
Option positions
Bought Jan 2024 calls 1.02
Wrote March 4.00 calls .42
When the March calls expire my adjusted cost on the 2024 calls will be .60 (1.02-.42)
Still holding my covered stock
Bought stock 2.25
Wrote March 4.00 calls .42
When the March calls expire the adjusted cost of the stock will be1.83. (2.25-.42)
Brilliant trading. Trading spreads has some advantages but one drawback to buying options outright.
Higher probability of a winning trade.
The stock doesn’t have to move as much, or in some cases not at all to make a profit. Also the stock doesn’t have move as far to make 100% or higher gains. .
You can be wrong about direction and still not lose equity as quickly and salvage losing trade with less losses
A drawback is you are limited on gains
I like using this strategy to buy stocks after huge sell offs. The volatility is cranked up so the options get super overvalued, increasing the probability of them expiring worthless . It may or may not be a win/win especially if the stock is below 1.70 on expiration.
As far as your Jan 2023 10.00 calls go I would guess your position ( not sure what you paid) is down significantly but don’t have any good advice on them other than to hold or add if you think the stock will make it back to recent heights in a short to medium timeframe. Or dump them if you don’t believe the above scenario.
Wrote 20 March 2.00 puts today at .30.
If SENS closes above 2.00 on March 18 I keep that premium. If SENS closes below 2.00, I’ll own the stock at 1.70 on March 21st.
Update on positions
Stock fell today on news.
This week I wrote March 4.00 calls at .42 (they peaked at .60) against my stock and against my LEAPS.
Now holding
Covered Stock
Stock price 2.25
Written calls .42
I’ll be buying theses calls back at .05 or lower which will adjust the price of the
stock down .37-.42 to 1.88-1.83 price.
LEAPS
Holding purchased 23jan 2.00 calls .72
Wrote (sold) March 4.00 calls at .42. I plan to buy these back at .05 or lower reducing the cost of the LEAPS down to .35-.30 cost
I hope approval is soon. Best of luck.
Update on positions
Covered call strategy. My Jan 4.00 calls expired worthless effectively lowering the cost of my shares .40 from 2.65 to 2.25 cost basis. I’m hoping FDA approval moves the stock well. With earnings approaching coupled with FDA expectations, option prices will be highly overvalued which makes writing them very profitable with increased chances of making winning trades. I hope to be free riding all my original shares by the end of 2022 with this “hands off my shares”approach.
LEAPS
Covered half my wrote 2023 10 calls (sold at 1.30) at .40 and hope to buy back the rest today around .45. If so I will effectively lower the cost of my Jan 2023 2.00 calls to .72 from 1.60. Hoping to free ride them by writing short term calls against against them.
Also looking at purchasing Jan 2024 2.50c at 1.60
I bought back half of the written Jan 10 calls this week at .40 and will probably cover the rest of them today at .45. Then I’m going to wait until after the stock Runs (hopefully) then write some weekly and monthly calls against my stock and LEAPS. . I’m hoping the stock gets up around the 5.00 range again to make these trades.
I am considering adding LEAPS too but like the 2024 expiration period better they are only .40 more than the 2023 2.50c
Good luck with your positions.
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.
I saw that post but I typically don’t respond if there’s nothing specific. Without knowing which strikes he sold nor the price he sold them, there’s not much to contribute.
I think that article is somewhat misleading.
The implied volatility on your the option chain may be high however it does not really suggest a much ch if anything in relation to the stock movement based on several factors.
1 The option chain has a 2.50 strike difference and the underlying is below the lowest strike.
2.The option chain is highly illiquid. Using these metrics on this type of almost no option trading is highly unreliable.
3. The open interest in all the chains suggests the stock is not primed to do anything spectacular.
I fear you may be correct. Dilution will likely keep this one low
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.
You called me a lizard????????. I did deserve it since my screen name was Stockzilla at that time. Luckily when my pick (APYM) hit 10 bags you let me back in. Those were the good old days.
The rescheduling is what concerns me.
excellent DD. I am still holding some stock at .33 sold some at 4.20 and some 2023 2.50 calls. Been selling monthly calls against them and am close to riding free on those LEAPS.
Ive been personally researching this treatment for this disorder since 1979 as I am a lifetime chronic patient and have been active in educating patients on the efficacy of tis treatment since the late 80’s.
I chaired the 2014 annual Clusterbusters Headache Conference in Nashville and Steven Hurst was invited to speak that weekend. At that time he was CEO at Savant and he also held the BOL-148 license at the time.
What concerns me most is federal approval to treat patients with these substances. I think that is what will make this stock move more than any trial results. This part is just my opinion. Regardless of the outcome of the company I am most happy that the word is spreading and helping patients. Making some money in the process is an added bonus for me.
https://clusterbusters.org/report-2014-conference/
Last Spring, the company stated that the cluster headache clinical trials would likely be the first to be released.
I hope they stick to this plan as there is tons of anecdotal evidence of the efficiency of using psychedelics to treat cluster headache disorders. I personally know hundreds of patients who have been introduced to these treatments and there are thousands more who have used them for years to treat the disorder after finding little to no relief through the medical community.
Albert Hoffman synthesized LSD while trying to find a treatment for headache disorders. We already know it works better than anything. T
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.
I sold a quarter of my shares at 4.99 from .32. Riding the rest free.
Started accumulating Jan 2023 2.50 calls at 1.27. I expect to sell short term monthly calls on moves to resistance.
ind Medicine Posts Q2 Loss of $36 Million
8/13/21, 4:10 AM
04:10 AM EDT, 08/13/2021 (MT Newswires) -- Mind Medicine (MNMD), a psychedelic medicine biotech firm, reported late Thursday a Q2 net loss of $36 million.
The company's net cash used in operating activities stood at $12 million for the quarter ended June 30. Total assets as of the end of June were $194 million, including $157 million in cash.
Shares in the company fell 1.6% Thursday in after-hours activity.
Price: 3.1000, Change: -0.01, Percent Change: -0.32
Hi sorry I missed your question last week. If I have covered calls, I typically hold he stock until I am called out of the position. In this case I am not familiar with the stock but looking at the chart it is difficult to determine support and resistance levels, so I would not trade it in that fashion.
To answer your question, it is possible to sell your stock while holding the naked call if you have level 4 trading authority from your broker. However I do not recommend ever selling naked calls. If the stick rallies you risk a margin call and the possibility of unlimited losses. Instead if you want to e it the trade consider buying back your call prior to or simultaneously when you sell the stock to remove that risk b
Thank you for the info as well.
Vasoconstriction is thought to be one of the reasons psychedelics treat headaches so well. Dilated blood vessels in the brain is the causation of the pain when they enlarge and push against the Trigeminal nerve.
My wife also deals with glaucoma symptoms and cannot dose either. Anything that dilates your pupil should be avoided if dealing with glaucoma. Good luck in your treatment.
Many begin self treatment at home with .5G of psilocybin every 3-5 days until the headaches go into remission. There are some headache medicines that block the effects of psychedelics so you need to stop those meds for 5 days prior to treatment. Some get relief in several treatments and some take longer. Many of us keep a journal to find the dosage that works for us. We are all different. Most use psilocybin because it is easy to grow at home and patients can get a years worth of meds in one grow period. If LSD is ever approved it will be lifesaving, but until then self treatment is a choice for many sufferers.
Next week I go see my Neurologist, Dr Brian McGeeney, who is working with our organization and is the annual keynote speaker at the CH conference. He is an advocate for headache sufferers and has published a co you pile of articles on using psychedelics for treatment of migraine and CH. I’m looking forward to discussing his thoughts on MNMD.
The first LSD trial planned to be completed is the treatment of cluster headache. This trial will show a extreme high rate in reduction of the number of attacks, an increase in remission period lengths and a surprising amount of aborted cycles Its effectiveness in aborting single attacks is comparable to imitrex without any of the dangerous side effects. There is nothing that comes to ending the cycles like psychedelics end them.
I have been involved in researching psychedelics with a patient group of several thousand self medicated patients for the treatment of this disease for over fifteen years, we know this treatment works better than any treatment available . The FDA is also aware of the preliminary findings of a pilot study at Yale using psilocybin to treat the disease.
Many patients say LSD works even better than psilocybin for the disease. I agree with them.
FWIW I began self treating this disease (CH), since the 1970’s and it’s the only treatment I have tried that works. I’ve tried over 30 different meds to try to treat this and none compare.
There’s a reason they wanted to complete this trial first and it’s because the results, while not published yet are already known.
Yea where is Barks Mouthalot?
For less than 100.00 and a trip to a few local stores, they can be grown in the home year round.
My first anniversary as a shareholder is June 9th. I do not trade penny stocks but when the clinical trial using LSD was announced , I bought with the knowledge that I was involved with the group of pioneers who first began successfully treating cluster headaches with psychedelics nearly twenty years ago. As a group of over 7500 patients, we know this treatment is the best option at stopping the attacks. That means we know the outcome of this trial will be successful. It will also be the first of many successful trials out there. Mr Hurst was trying to help us back on 2014.
I haven’t traded an otc stock in 16 years. I’m an option seller so when I mentioned MMEDF in our group I was heckled. My .33 initial investment is just waiting to be put in their faces some day.
One day in the future, they will say, “Remember that Malone guy talking about MMEDF at .33? I wish I had listened to him. I knew him when he was a nobody. He’s still a nobody but I knew him then too.”
Weeeeeeeeeee-d
It took us twenty years to get those phase 2 clinicals going. Mr Hurst attempted to help us seven years ago. MINDMED is lucky to have him on their BOD.