We are recommending the following to our February 2013 cycle portfolios.
We are recommending a credit spread for our Portfolio #2 in the following issue.
CELG - Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes various therapies to treat cancer and immune-inflammatory related diseases primarily in the United States and Europe. The companyÂ’s commercial stage products include REVLIMID, an oral immunomodulatory drug for the treatment of patients with multiple myeloma and myelodysplastic syndromes (MDS); VIDAZA, a pyrimidine nucleoside analog to treat various subtypes MDS and acute myeloid leukemia; and THALOMID for patients with multiple myeloma, and for the prevention and suppression of the cutaneous manifestation of erythema nodosum leprosum recurrence. It also offers ABRAXANE to treat metastatic breast cancer; and ISTODAX for the treatment of cutaneous and peripheral T-cell lymphoma. The companyÂ’s preclinical and clinical-stage products comprise Pomalidomide, a Phase III clinical trial product for the treatment of myelofibrosis and multiple myeloma; Apremilast, a Phase II and six Phase III trial product to treat psoriasis, and psoriatic and rheumatoid arthritis; CC-11050 to treat chronic inflammatory conditions, such as cutaneous lupus erythematosus; and Tanzisertib, a Phase II trial product for the treatment of idiopathic pulmonary fibrosis and discoid lupus. In addition, it develops Amrubicin, a synthetic anthracycline molecule; PDA-001 that is in Phase II trial for the treatment of CrohnÂ’s disease, multiple sclerosis, rheumatoid arthritis, and sarcoidosis; and Sotatercept, a Phase II trial product to treat renal anemia, as well as CC-223, CC-115, and CC-122, which are in Phase I trials for the treatment of solid tumors, non-Hodgkin lymphoma, and multiple myeloma.
We are recommending the following specific credit spread.
Put credit spread = Bullish put spread.
ADJUSTMENTS FOR TOMORROW.
PORTFOLIO #1 ACTION:
We will be closing out the HFC 49/47 Call spread tomorrow for a NET DEBIT of $1.80.
The current BID/ASK is $1.80 - $2.00 and as usual look to split the BID/ASK if we can't get a $1.80 fill
No matter what we will be closing this position before tomorrow's close.
In regards to the sell off today in STZ, we will HOLD the position tomorrow and over the weekend as today's action may have been a little over done. We will advise how to handle STZ over the weekend.