#Fuzzy Biotechs
Big move in Biotechs this morning after talking about some positions over the weekend–definite pain in EXAS/EXEL/GWPH/CELG. I’ve got two fuzzies in EXAS, one was hedged and DITM, one was unhedged. Luckily my vow to really try to not overtrade these paid off today since I didn’t jump the gun on managing the DITM hedge on EXAS. So I was able to BTC the Jan 12 55 calls for 50% gain (.70 vs 1.35). EXAS pre-announced quarterly earnings, they are presenting this week at the JPM conf, so continued volatility this week is expected.

CELG: I used the AS-BB osc. to cover my hedge for $2300 profit and eventually reset the hedge. BTC Jan 12 107 c for .40 (sold for 2.70), STO Jan12 105c for .76. CELG is now my oldest fuzzy with a total collected hedge now of $4100.00 (yesterday’s report was wrong-cell ranges were missing on my spreadsheet formulas). The synthetic line is $110…so hedging has absolutely saved this position (though it still has net loss). I have collected 1.72 OVER the initial trade debit. Earnings coming up.

QQQ: I shut it down for net $1171 profit. My rolls have been sloppy, I’d like to reset with the tighter put that I’m using now on indexes. In my weekend work, I show QQQ with lagging strength over SPY.

SPY Unhedged Fuzzy: Added Feb 273/273/269 for 2.51 x 15

DIA Unhedged Fuzzy: Added Feb 252/252/248 for 2.17 x 15