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LOL! The hand is watching - just got this message from admin:
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Thanks for the suggestion, raf. I just installed the app and yes it loads messages lightning fast next next next next…. But navigation sucks. If you follow a link to an earlier message then “back“ doesn’t take you back to the page where you were but back to the list of messages which does not include message numbers until you open each one individually. Lack of message numbers in the list makes it difficult to find the same point, especially for switching back and forth between the app and the website.. I think this one is still in beta.
I would still recommend the app for rapidly reading through a long list of messages to catch up. And there’s just that if you click on a link you’ll have a hard time finding your way back.
Thank you. I read it and will refer to it when I talk to my doctors. In my case. I think they will agree that I don’t have significant CVD risk factors and my T2DM is at the very mild end of the scale, so bleeding Is the greater risk, especially considering that I already had one macular bleed and one eye is damaged as a result. The liver clinic has already cleared me to stop aspirin and the next step will be to get my retinologist to prescribe Vascepa. I get monthly labs as a transplantee and will look for any differences.
Yes, corrected by my following post since it was too late to edit when I saw it.
As long as you are aware of the possibility of early assignment it can be a good thing. If a put spread way overshoots the high target I’m happy to close out at a small premium and if a call spread way overshoots the target I’m happier to get the cash into my account from an early assignment. If a put spread goes against me and I get an early assignment I can sell the shares and sell the puts again.
I think it’s technically a 48 hour line. So the 22nd would be within the guideline.
30-something/20-something. I was just being obscure about the actual numbers. My example used 39/29. I have a reluctance to declaring option trades precisely in real time because I think that’s similar to saying you have a stop loss order at a certain price. It sets up a target.
Tasty, you don’t think outside the box. What box?
IDan, the rationale for spreads at least for me is just to set up a high reward to risk bet, where the same reward potential reward would take much more capital/risk using a simple option or shares. Nevertheless I have bought and still hold January AMRN calls because of the extraordinary potential here.
Aargh! Too late tto edit that.I put the buy and sell reversed. I should’ve said sell the 39 and buy the 29. The example works fine if you just replace the words buy with sell and sell with buy.
You set up a spread in your trading software or on the brokers website to sell the higher-priced put and buy the lower-priced put.
For example:
Buy 100 XYZ January 18, 2019 $39 put @ $15.00
Sell 100 XYZ. January 18, 2019 $29 put @ $7.00
Price of spread $8.00
Cost of trade $80,000.00 Credit not including commissions
Cash or Margin required $20,000 (difference between the $10 spread and the $8 premium received)
Note: the entire spread $100,000 is reserved cash or margin until the trade is closed or the risk is relieved by repurchasing the higher-priced put.
Maximum gain $80,000 less commissions
Maximum loss $20,000 plus commissions
I am doing my part. Starting with my request to UCSF liver clinic that I could stop aspirin and start Vascepa, and could the question be referred to one of the surgeons, preferably one familiar with Vascepa.
This conversation is with one of the PA-C's whom I have known for many years.:
Their reply:
RE:about aspirin
Message body:
It is not a topic that our surgeons would specialize in. We all recommend fish oils to patients for the many benefits that it has cardiovascularly, lowering triglycerides and decreasing inflammation (amongst other benefits).
For management and prevention of eye disease you are best served by discussing with ophthalmology.
Fish oils do not have the anti thrombotic/ anti plateley effect of aspirin which is why aspirin is used post transplant. That said, many
of our patients are off aspirin for many reasons (from brain bleeds to easy bruising to stomach upset) so it is ok to be off in your case as you have no history of liver thrombotic events. And as mentioned earlier: the risk is not zero but it is small.
I replied:
Vascepa is not fish oil although it is a purified derivative of fish oil. It just had topline results released from a large CV outcomes study. The reduction of CV risk was earth shattering. With the moa of reducing inflammation It is highly relevant to surgical practice and I recommend highly that you watch for the NEJM article to be published next month. The study breakout will be presented at AHA on Nov 10th. Fish oil has been proven in several studies to have no benefit for CV risk. Vascepa reduced risk by 25% for patients on statins and for diabetics.
Their reply just now:
RE:about aspirin
Message body:
Great data! So great to avoid statins when possible.
I hope it helps with the macular degeneration. It should as this type of chemicals (fatty acids/ omega 3/ EPA) have been successful with retinal health.
No issue from the liver transplant end for you to use this.
I will look for and share the NEJM article. Thank you Mr. x!
Yes I know I left out details, but wanted to highlight Vascepa for further attention.
And if we lose (ITC investigates and we lose there) I will expect Amarin's ace legal team to kick some ass in court again. FDA caused this mess and they will have to fix it, voluntarily or otherwise.
K/W, thanks for the link. I added it to the message sent to the liver clinic at UCSF although I suspect that if the paper doesn't have NEJM's imprimatur it will be dismissed.
Yes, Parnassus is where I was gutted and put back together. Spent 10 days in IC. Nobody had asked me about drug tolerance before the transplant, so they gave me 1000 mg of Prednisone after surgery. I experienced a fascinating drug psychosis from the overdose, like the smart part of me watched the other part having a bad trip. I kept telling them I had been poisoned but they didn't get it. They were about to do an MRI and spinal tap when my sister mentioned that I seemed to be having a bad trip. Light finally went on and they brought me down. Nevertheless, I praise that place all the time, in spite of the day I felt like I was the guy hung like a beef carcass while the other guy had my liver. I got over that and I'm still vertical.
Retinadoc, thanks very much for the reply. Fyi, my daily aspirin is already low-dose (81 mg) and has been since 2000.
Btw, the ophthalmologist who gave me my one and only Avastin injection forgot to ask me if I was taking any aspirin. Bloody eye.
Amarin is a special case, the rare one, and your argument for calls and call spreads is hard to refute in this case. What I have found in my experience is that the put spread generally offers me a lower b/e and/or a wider margin, therefore a safer bet and/or a more profitable one. And finally, yes, put spreads are my personal rut because I have done well with them.
Btw, yes I know the long leg is long volatility, and I look at the comparative iv's between the long and short legs at various strikes.
The calculus changes as the spread widens, but for one example I don't need $7 margin for $7 put spread. Need 1.20 if premium is 5.80. If the put spread and call spread have the same risk reward I choose the put spread because as price rises the sold put declines in mark where the sold call increases in mark. So if the price moves in my favor I can exit easily from the sold put.
I always prefer to sell volatility and only buy when IV is relatively low. But to be clear that 30-something/20-something put spread has a 4:1 reward:risk, and I did compare the call spread -no contest. The big decider for me is the ease of exit with put spreads. I rarely hold to expiration, taking the half loaf when it is offered, because too many times holding out for the whole loaf yields no bread. Recently I closed an ARNA 45/50 call spread at $3, cost basis $1, and at expiration is was worthless.
I made my bullish bet for the week after presentation. I think it's generally a bad idea, like a stop loss order that invites triggering, to disclose, but I sold a 3x/2x put spread.
just being sarcastic. presentation is on Saturday. I expect and hope for volcano on Monday
I am a 75 yo wm in good health: BP and lipids good, mild T2 well controlled by repaglinide and small doses of long acting and rapid acting insulin -> A1c 5.9, history of liver tx in 2000 and one macular bleed in late 2016 leaving left eye with peripheral vision only. I have asked UCSF liver tx advisor if I can stop daily aspirin and start Vascepa. I will ask the same question of my retinologist when I see him in December. Is there any special authority I should cite while we are still before the NEJM pub? I fear that both UCSF and my retinadoc will need educating before consenting.
Your reply, should you choose to make one, will not be considered medical advice. Thank you.
Actually I don't think the stock price will even wiggle during the presentation. :)
If you are sure that the pub is being reviewed now under NDA then do you think it could be published in the NEJM weekly issue immediately following AHA. Like how long would such a publication normally take for review?
Edit: Never mind it seems the question was answered in subsequent messages. That would be awesome if we could get concurrent publication. AHA = Shock! NEJM = Awe!
Could easily be an all stock or stock and cash deal. Remember shares received in a TO do not create a tax event; iow, capital gains are deferred until sale of the new shares and long term status is preserved. This would allow us to spread out the realization of gains and generation of tax liability.
Max pain is different for each mm. It is the minimum payout forced by covering all the short puts and all the short calls in the mm's book. It can easily be between strikes. The common definition throws all option sellers into one basket, much like a topline result, but the breakout numbers are what matters to each individual mm as I understand it.
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oops
It would be an understatement to describe that as a bullish opinion. Wonder if JL owns a piece of that outfit, or is at least their KOL.
nevermind
Speaking of AMLN. the afternoon before their acquisition announcement I sold my entire position at eod, expecting to re-enter a shares and options position the next day at what I expected to be a better price. :(
Lizard spit!
On a similar note, the afternoon before DNDN's quantum price leap to mid-20's and then higher I entered a limit sell order that filled 80% before the close. At least I had some shares left to sell on the pop and convert into ARNA and MNKD.
I did not make those mistakes again.
“Be Nice to Each Other Day just got cancelled.”
Well that’s good because in light of your comments about work, you’re fired.
Always the sell sider, you may hit singles and you may hit many singles, but you’ll never know what it feels like to trot the bases, much less how that feels In a really big game when you’ve been the underdog all season.
You’re referring to the fact that you can withdraw your contributions but not any amount of gains before you reach eligibility for withdrawal without penalty. This is because you already paid taxes on the contribution amounts.
I have never made or lost money in the market on Saturday.
JL, I have read all your arguments and I have even used them to enlighten a few family and friends. I don’t think you’re wrong. But I have also read the arguments of the suits and they make some valid points about what it takes to accelerate a massive ship to ramming speed. The best part of this is I don’t have to decide who’s right or where in the middle we will end up. I can watch it unfold. I’ve made my bet and I’m not folding.
And I tip my hat to you.
A lot of us are going to have larger tax bills this year and in coming years thanks to AMRN. but that is from passive income. Those of us who work for W-2, 1099misc or any self-employment/partnership income are paying FICA and Medicare withholding taxes and maybe we wonder what the payout looks like compared to the pay-in This article addresses that question:
https://www.politifact.com/truth-o-meter/article/2013/feb/01/medicare-and-social-security-what-you-paid-what-yo/
The only restrictions I have ever seen are that you must be at least 59 1/2 years old and the Roth account must have been opened for at least five years. After that withdrawals are tax-free.
It seems there is a club here which I would never be interested in joining or be welcome in if I were interested. The walls directed around the club might appear to be intended to keep others out but in fact they are prison walls.
When advising about the significance of $108,000 in tax liability you have to weigh that against the multiple of gain expected in the principal. For example, what if the remaining 192k now tax free in the Roth account multiplies to be worth $1 million? The $108k tax paid doesn’t look so offensive anymore
What is it about Princeton’s post that makes you suspect his or her forthrightness? After a very brief intro the poster offered a synopsis of tax considerations for IRA and Roth IRA accounts. He did not make any argument about valuation, ability to meet demand or any other FUD topic. I think maybe too many of us are too jumpy and too ready to accuse newcomers of being disingenuous.