Wednesday, January 11, 2012

More Inhibitex

I sold my remaining holding in Pharmasset, Inc. (Ticker: VRUS) today and used a portion of the proceeds to pick up more shares in Inhibitex, Inc. (Ticker: INHX) at ~ $24 per share.

It’s been a wild ride in 2011 as I got hit quite badly with the special situation plays in Big Lots (Ticker: BIG) and Gen-Probe (Ticker: GPRO). I went in pretty big in those positions and got killed when there were no deals. That was definitely an unpleasant learning experience… I placed a too big of a wager on an uncertain situation. Fortunately, I managed to dig myself out of the hole and basically ended flat for the year. It would have been a great year if it wasn’t for those two big losers. Going over my trades, ~ 71% were profitable. I would like to maintain this goal going forward. You are never going to be 100% profitable on your trades. The end game is simply to make money.


At January 20, 2012, Blogger Retire@60 said...

past couple of days INHX has been going down and lots of option activity in feb. any insight or thoughts.

At January 23, 2012, Blogger Money Turtle said...

I don't see much happening until BMY receives the go ahead from FTC. From my notes, I have February 7th as the HSR expiration date. This arb play will pretty much mimic Pharmasset, but with a bit more volatilty. I've been adding at the current levels.

At January 23, 2012, Blogger Retire@60 said...

thanks.. I did some covered call with feb 26, and the open interest has been constantly going up for a week. I am guessing they are anticipating a higher bid.

At January 25, 2012, Blogger Money Turtle said...

Thanks for the options info... I started selling some Feb 26 calls as well. Lots of people speculating on a higher bid.

At January 27, 2012, Blogger Retire@60 said...

even the may 20 puts are trading at a premium. sold some today, hopefully the deal closes and i keep the premium

At February 06, 2012, Anonymous Anonymous said...

Thanks for the tip on Inhx, got in a little after yourself, but was a very safe gain. Waiting for more gems.



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