Underlying Asset: DENDREON CORP
Underlying Asset Ticker: DNDN
Option Type: Put
Option Strike: $15
Expiration: April 2007
Quantity (Contracts): 10
Buy Date: 04/17/2007
Purchase Price: .45
Sell Date: 04/17/2007
Sell Price: .50
Net Profit (not including broker fees): $50
% Return: 11%
Cumulative Net Profits: $50
Comments:
This was a mistake and I was lucky to even make this amount back. This was more of an emotional trade without reading any of the charts or taking into account the premiums of the option. This stock was featured in tradingmarket.com's article "7 Options You Need to Know." This company skyrocketed. Take a look at its chart. It was at $5 for a long time, shot up to $25, pulled back to the teens. I got in too quickly and realized almost immediately this was a bad idea. Plus it didn't help that within 10 seconds of purchasing this option,
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