Amarin Corp Plc (AMRN)

[mclim]

Simple strategy that worked for me constantly for AMRN in building up shares.

when we shoot up rapidly, i sell off some (most i ever sold was 20k out of 100k+ shares) and then wait. Surely enough it goes back down.

On the down down days like Oppenheimer $7 target or ADcom announcement, i would buy Calls (mostly leaps) and some shorter term calls or do credit put spreads. Surely enough, it goes back up and it usually doubles or even triples. Then i sell the calls and convert to shares. If it goes up from there, great! my shares are very happy.

For example:
When we shot up to 24 and change right after 16-0 votes, i sold 20k shares and waited. surely enough, dumb oppenheimer caused it to go down big. I bought bought back 20k shares, and then bought 1000 contracts of last friday's 22 strike at 70 cents. sold half at $2, and other half is converted into 50k shares. I will sell those for it seems like 27s to possible more, making 8 fold possibly. then slowly i add to my base shares on morning dips that always occurs.

this has allowed me to roughly double my share count so far in a year from 70k to 140k shares.

On the following days when ADCOM was announced, i was fortunate to pick up 1000 calls for 2021 $15 calls at 6.50, and that is now well over double as well. (i posted all of these trades in stocktwits live) if you feel like checking up on me.

That said, I will stop doing this as I found out last friday i coulda been xxxxed had we received CRL and i was on hook for 50k shares exercised at 22. Of course i was 99.9% sure we would receive good news, but after discussing with many people, it isn't necessary to take that big of a risk with a portfolio this size. Maybe i grew up too poor and am too gready. but having multi million is kinda changing me now.

From here and on, i will just hold the leaps and shares as i think big dip days are over.

God bless!