/biz/ - Business & Finance

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How much did you short them?

>>672877

>How much did you short them?

Um... 10000 shares @ $8.63?

>>672886
Strike price

>>672887

I'm not trading options, if that's what you mean. Or do you mean the total value of the trade?

>>672785

It will probably end the same way as CALA, GENE, etc, and CAPN in the future.

We are in one of the greatest biotech bubbles ever witnessed. The problem is that a lot of people realize this. OREX had 33% of the float short before this massive surge, which probably fuelled a lot of the run. New shorts entering in the short term take short-term losses, helping to perpetuate the mindless rally. You get retail pikers and the the uninformed buying into unrealistic future projections, and the stock looks as such.

My greatest trade to date was UNXL short from $37 to $13. Not biotech, but had the same trading dynamics and short burn. Patience and a strategy for averaging and taking losses is necessary. 10,000 shares is a lot of fucking shares. With this frothing biotech bubble, I would say $10 isn't out of the question. Sometimes these face-rippers can be relentless. There will be glory when this house of cards blows over, but you may have to endure some sodomy first. Good luck.

how much do you pay for interest per day to hold that short?

>>672926

Thanks m8, and I am indeed prepared to take losses in the short term.

>>672785
They aren't really in trouble with the FDA and their HQ is in a medical office in La Jolla. I've been long OREX from 4.50. Nice short you may get a point.

>>672785

NASDAQ is a fucking casino. These biotech IPOs making a fucking mockery of the medical industry. I remember one company and their unique selling point was they had bought the rights to change one atom in an antibiotic molecule with hundreds of atoms. They were valued at 1.2 Billion. What a joke.

Covered all the shares @ $6.76, and made $18700. Not bad for a 3 day trade.

>>675114

Nice profit shorty.

As a long we are on the opposite sides of the spectrum fundamentals wise. I was always too scared to short because it's a QUICK way to fuck your money up.

How do you find the right timing to enter as a short and the right timing to cover? Wait for bad news?

>>675114

Post a screenshot of dem gainz. Not doubting you, but it would be satisfying to see. Just saying

>>675015
Wow wish I had shorted a couple of days ago, thanks for the good tip. Got any other biotech plays?

>>672886
Nicely done.

I had a covered call for OREX. I regret not buying some puts.

>>675120

Honestly, I see this as a typical "Pump & Dump". OREX is a shitty company that got hyped up because of a controversial diet pill. I envy whoever went long when it was in the $5 range.

Anyway, shorting does have tons of risk (you can lose more money than you have, and if dividends come out you have to pay) but it's a matter of measuring risk/reward. But, generally, if a shitty company with negative earnings and/or a lot of debt is at or near a high point, it's almost always going to go down.

Also, I never recommend shorting big companies like Apple, Google, Coca-Cola, etc. simply because long-term investors love them, and they're not going anywhere.

>>675141

No can do. Not gonna lie, I have a lot of losing trades I'm in right now lel

>>675120

Also, >>672926 was very helpful, what he said about my trade holds true.

>>675162

DRRX looks interesting for a short. It has similar stats to OREX, just a smaller price. It actually has it's own building though, and I'm not in the trade myself. Still, looks like a good setup for a short.