Iovance Biotherapeutics Inc (IOVA)

[badgerkid]

GMH, regarding May 17 options. I had noticed before the earnings call that max pain was still sitting at $12 for next Friday. I had hoped that the news would be more than enough to keep the sellers from the move we saw on Friday. With that said, I do use options max pain as an indicator of where a stock price may trend towards on options expiration dates. It has its limitations but it does seem to be a good indicator with some regularity when options volume is high. If those sellers can close IOVA exactly on $12 or slightly below next Friday, they win big on all those contracts that will expire worthless (some of the $12 calls are mine which should have been a clue that they might be worthless next Friday). I'll add more shares, but I won't be buying any calls for the time being as the big boys continue to win that game.

I've gotten back to my original plan of selling puts and accumulating shares. I sold some $11 puts for Jun and Sep on Friday. I have a core position of shares and a few trading shares that I'll sell calls on from time to time, but the future still looks great so I see no reason to worry even though that's my habit.

I agree that the sell off looks overcooked a bit, but such is the nature of markets when news is good and incredibly supportive of the future but not earth shattering at the moment. I feel more confident in what this company is doing, but stock price movements like we saw on Friday will test your mettle.

Best of luck to you and thanks for your willingness to share your thoughts and research on this board.

Good luck to the longs.