September was all about Medivation, Medivation and Medivation. I went in big on Medivation by going long the stock and short Puts. Fortunately, everything went as planned as this deal closed on 9/27. A bit annoyed that I am still waiting for the cash to hit my account. I had modeled the cash to hit my account by September 30th (It now looks like it will hit my account on 10/3).
One arb play that has consistently given me a headache is Rite-Aid (Ticker: RAD
). This is one that I never seem to get right. I’m currently out of the position after getting shaken out for the third time. I think Rite-Aid is just not meant for me!
I’ve closed out my remaining arb plays such as Virgin America (Ticker: VA
) for the time being. It’s been such a good year that I just don’t want to start forcing trades. Although, I am keeping a very close eye on LinkedIn (Ticker: LNKD
) and believe that this deal has a good shot at closing by year end.
I’m planning on taking it a bit easy for the remainder of the year.
Well, that’s what I say now…
2016 Performance Year to Date = +24.86% with the running monthly returns as follows: