EDITORIAL
The Market is shifting for various reasons and with my top bio positions in CVM, IMGG and CEMI playing well, I didn't mind keeping some SPY puts as downside protection while like we see sometimes biotech ran up. Should the broad market take off or these biotechs give back gains, the SPY puts will be sold asap. Actually closed CVM today because although it can be proclaimed by many to have upside potential, I've been told by others, that other the facility's certification without other earthshatering news it will be a long time till phase III is done. So if you 'carry' this position consider closing it upon that facility's certfication announcement. This is like the usual sell on the good news we've been seeing. CEMI and IMGG are still looking good throughout, but I could take profits at any time.
Again, please understand playing SPY options is for the very experienced only. Some hedge funds will often have short positions to cover if needed, this is advanced stuff and you should do further research.
Disclosure: Long CEMI & IMGG
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KrustyDusty is not a professional investment advisor, but is currently ranked by Covester an independent investment management system, as #1, having the highest annualized rate of return amongst thousands of other investors. Covestor independently verifies all trades through account brokerages daily. The information is only an opinion. Sign up for our stock alerts/newletter to follow all TapeBeat.Com news and recommendations.
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