Biotech Beat Down..Time to Buy?

Tim Biggam

Biotech Beat Down..Time to Buy?

By Tim Biggam — Author

The portfolio scalped $1400 on Amgen (AMGN) calls yesterday, and re entered a long position to position to profit on a pop in Amgen and Biotech generally.

Amgen has been down 7 straight days, is trading at the highest IV level of the past few years, and is deeply oversold from a 14 day RSI perspective.

Will look to trim out of the position on a rally, putting the portfolio back to all cash and up about 11 % on the year.

Tickers: AMGN

Posted to Options & Volatility on Sep 29, 2015 — 8:09 AM

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{[comment.author.username]} {[comment.author.username]} — Marketfy Staff — Maven — Member

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Tim Biggam