Replies to post #152207 on Amarin Corp Plc (AMRN)

[jfmcrr]

Later expirations are pricier, for good reason, than your Nov 2 calls. You've more than doubled your money. If it were me, I'd sell those and buy Nov 16 or later. There may well be a good runup in the next week, maybe more likely than not, but I'd play it safer with something like Nov 16 $25, even though they might gain less. With an unlucky market twist or turn, your Nov 2s could expire worthless.

I'm looking for a very probable nice bump up on Nov 12, and that's what I'd focus on first, then solid gains likely over the next several months. Just my opinion. I'm not an options expert, but Dan is, and he also mentioned he liked out of the money November 16s. Good luck.

I have a lot of experience at being too aggressive and losing money. Does that make me an authority in what not to do? If so, here's what I'm not doing; I'm not going too cheap or close. I'm buying stock with profits and coming up against margin calls for a concentrated position. I'm meeting the margin calls by selling stock and buying Calls. The object of the exercise is to maintain control of approximately the same number of shares after the sale; Sell 2000/Buy 20. I have Dec/Jan 17/18's and I'm adding to them. It buys me room to move on the concentration calls.

I'm expecting good news and expecting to see $30 soon and hoping to see $50 before the end of the year, or maybe $90 if I hafta. I'll live. But this is all built on leverage because I over reached and over traded getting here.

So I bought some time at nominal cost by going Dec/Jan and some cushion by buying in the teens instead of the 20's. I can stand a November hiccup that puts some kind of 2 or three week hitch in the action.

Yeah June 38s are around a buck and if we see $100+... , but it just ain't where I'm at just now. Maybe later.

[mrmainstreet]

Chas, what's your take on the SE breakouts? How do you see it shaking out for RRR and stat sig by category?