Biotech Values

[Rocky3]

$GILD. Closed out the first set of in-the-money options bought in Feb-April. Profits ranged from 10% (the 80s) to 220% (the 62.50s). Total was about 110% return. Exercised half of the 62.50s so that I can hold some for long term tax treatment (maybe). Next set of options (60s) due 01/15 and some more due 01/16 (60s and 70s). May buy some Nov. 80s or 85s if we see a correction back to the 80s. May also buy more 01/16s if there is a bigger correction. Still think that it is a least a $112-120/sh stock. Big issue remains pricing for all-oral from both GILD and ABBV. We will know the GILD within 60 days, but the biggest issue (for both companies) is the ABBV pricing. JMO.