I went short at $15 and bought $15 April Puts at $1.2. I covered the next morning at 13.7's and got the puts away yesterday at $2.50. Could have been a bit more patient, but a great trade nevertheless.
Friday, 30 March 2012
Affymax Inc (AFFY) - Classic Sell on Approval Trade
Affymax Inc. (AFFY) won US approval for Omontys on Tuesday. The stock has had an almighty run-up and approval was expected - a great combination for a sell on the news trade.
I went short at $15 and bought $15 April Puts at $1.2. I covered the next morning at 13.7's and got the puts away yesterday at $2.50. Could have been a bit more patient, but a great trade nevertheless.
I went short at $15 and bought $15 April Puts at $1.2. I covered the next morning at 13.7's and got the puts away yesterday at $2.50. Could have been a bit more patient, but a great trade nevertheless.
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