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Option Addict

The first hit is always on the house.

GETTING MY HANDS DIRTY

Let’s play a game of Turd Roulette. I’ll kick off a focus group this week for those like myself, with nothing better to do.

Here are my top few findings so far from my trash bin search…

$IDRA

$CBAY

$ATEN

$VNET

$GRPN

I’m starting with a round of poo, before I go total shit list.

What’s your best idea here given the genre?

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ENTER THE TRASH PHASE

Mid-May is where I like to adjust my approach to sniff out the shittiest stocks I can find and use them to fund my summer activities.

Today, I am starting with $KNDI, which is right in line with my China theme, and is on the cusp of breaking out.

Over the next few months, when you see some tickers that instantly make you want to vomit, you’ll know why I’m pursuing this as a strategy.

Bon App├ętit.

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I CALL GAME

My long in $PBYI just paid off big time this morning. Closed half at $63 from $32, leaving the other half for early retirement.

May 22, 2017 10:08 AM ET (BZ Newswire) — Press Releases

Puma Biotechnology, Inc. (NASDAQ:PBYI), a biopharmaceutical company,

announced that the U.S. Food and Drug Administration (FDA) posted briefing

documents on its website in preparation for the May 24 Oncologic Drugs

Advisory Committee (ODAC) meeting scheduled to review PB272 (neratinib)

for the extended adjuvant treatment of HER2-positive early stage

breast cancer.

ODAC is an independent panel of experts that evaluates data concerning

the efficacy and safety of marketed and investigational cancer

treatments and makes appropriate recommendations to the FDA. Its

comments are not binding, but are considered by the FDA in its

decision-making process.

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BUYS INTO THE WEEKEND

As discussed in After Hours with Option Addict last night, I bought $BIDU calls at the open. I’m still holding the position I bought on 5/4, which expires next week. That hold pretty much had me shitting my pants on the regular this week.

I also picked up $PI calls and loaded into some $SNAP.

I’m stepping into these longs knowing there’s a 50/50 we revisit the lows of this week. Not the best odds, but I like what I picked up that much.

My week could have been insane had I waited for the washout to buy my weekly calls. I’ve added $COF, $EDIT, $BLUE, $BAH, $SFUN, $KNDI, $VNET to my watchlist next week. We’ll discuss these set-ups at the close today.

Have a good weekend,

OA

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EYEBANGING BRAZIL

The names $EWZ, $PBR and $VALE have come up recently in discussions about Emerging Markets.

I have no desire to have any exposure to Europe right now, despite Barron’s telling me what a great and crowded long this is in the market right now.

Speaking of which, I closed out my Feb $FXE long yesterday.

I do like Brazil though, and today’s action seems like the perfect reason to step up and invest.

I’m rooting for a market selloff into the weekend. If that’s the case, I’ll start with some shares of $VALE for the long term.

Anyone buying into this stuff today?

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