After taking quite a few wins off the table, I still hold losses in the portfolio. All remain on hold, though, with plenty of time remaining on most.
One of the big winners still being held is the GILD January 105 put. We now show a gain of 48% on the trade and continue to hold. Believing the stock could easily fall to retest prior $92.50 support, not only am I recommending a hold on the put, I’m recommending an additional put on the name.
Consider buying to open the GILD February 2015 97.50 put up to $5.60.
Also consider buying to open the Sanofi (SNY) June 2015 47 call up to $3.50. The well-known stock plummeted on the CEO ouster and is wildly oversold. Once the company puts a new CEO in the front seat, we’re likely to see a further reversal north.
As Warren Buffett has taught us many times, be brave when others are fearful.
Ian L. Cooper
Forgotten Profits