Roll Gilead December Straddle
Roll Gilead December 2016 $72.50 Call Option (GILD_121616C72.5) into Gilead February 17, 2017 (3rd week) $77.50 Call (GILD_021717C77.50) up to $6.
Roll Gilead December 2016 $72.50 Put Option (GILD_121616P72.5) into Gilead February 17, 2017 (3rd week) $77.50 Put (GILD_021717P77.50) up to $5.
Rationale for trade:
Certain biotech stocks, such as Gilead are likely to respond to changes in the healthcare system brought about by Trumpcare. This trade has yet to develop fully, yet has an excellent chance to deliver a significant profit once the stock breaks up or down.
Disclosure: I own this option.
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