Tuesday, April 1, 2014

Portfolio Allocation - 3/31/14

Here is my month and quarter end (3/31/14) portfolio allocation.  For simplicity, unless otherwise noted, all positions are long call option positions.

KERX - 57.4%
ARIA - 30.9
XLF - 5.2
SPPI - 4.8

Cash - 1.7

Monday, March 3, 2014

Portfolio Allocation - 2/28/14

Here is my month end (2/28/14) portfolio allocation.  For simplicity, unless otherwise noted, all positions are long call option positions.

KERX - 53.4%
ARIA - 34.8
SPPI - 6.3
XLF - 3.9

Cash - 1.5

Sunday, February 2, 2014

Portfolio Allocation - 1/31/14

Here is my month end (1/31/14) portfolio allocation.  For simplicity, unless otherwise noted, all positions are long call option positions.

KERX - 55.5%
ARIA - 31.1
SPPI - 7.6
XLF - 3.9

Cash - 1.9

Tuesday, January 14, 2014

Some trades before expiration

A few of my call option positions are going to expire at the end of the week, and two of those three will almost certainly expire worthless.  But I needed to trade the one that still had value, so I did that today.  Specifically, I pushed my position in the Financial Select Sector SPDR from Jan 2014 to Jan 2015 (and doubled it's modest allocation in the process).  I also added to existing positions in Ariad Pharmaceuticals and Spectrum Pharmaceuticals, although at different strike prices than my previous calls.  I funded these moves by selling one quarter of my position in Keryx Biopharmaceuticals.  Keryx is now a bit less than 50% of my portfolio, which is still higher than I would prefer, given their risk profile.  But at least the portfolio now has better balance than the past few months.  And all remaining positions of value don't expire for a full year, leaving plenty of time for these stories to play out in 2014.

Thursday, January 2, 2014

Portfolio Allocation - 12/31/13

Here is my year end (12/31/13) portfolio allocation.  For simplicity, unless otherwise noted, all positions are long call option positions.  This month's allocation percentages are still abnormally skewed towards KERX, due to the steep drop in ARIA months ago.

KERX - 62.9%
ARIA - 29.2
XLF - 2.8
SPPI - 2.6

Cash - 2.5

Sunday, December 1, 2013

Portfolio Allocation - 11/30/13

Here is my month end (11/30/13) portfolio allocation.  For simplicity, unless otherwise noted, all positions are long call option positions.  This month's allocation percentages are still abnormally skewed towards KERX, due to the steep drop in ARIA last month.

KERX - 68.2%
ARIA - 21.3
SPPI - 4.4
XLF - 3.2

Cash - 2.9

Sunday, November 24, 2013

Waiting for catalysts to rebalance

Several of my biotech holdings have upcoming catalysts.  I'll be using any positive news (and associated gains) to rebalance the portfolio, since it has become very skewed toward a single holding. Last week's gains in Ariad Pharmaceuticals helped to ease the misallocation a bit, but I'll still look to better balance the holdings in the coming months.  As for my lone ETF holding, it continues to gain as the broader markets (and specifically financials) have advanced.  I'll have to decide how much exposure I want to that ETF before my calls expire in January, and allocate capital appropriately.

Friday, November 1, 2013

Portfolio Allocation - 10/31/13

Here is my month end (10/31/13) portfolio allocation.  For simplicity, unless otherwise noted, all positions are long call option positions.  This month's allocation percentages are abnormally skewed towards KERX, due to the steep drop in ARIA this month.

KERX - 73.7%
ARIA - 12.3
SPPI - 6.8
XLF - 2.6

Cash - 4.6

Wednesday, October 9, 2013

Rebalancing after the plunge

Today's huge drop in Ariad Pharmaceuticals is very disappointing, and prompted me to make some trades to rebalance the portfolio.  I trimmed one third of my position in Keryx Biopharmaceuticals, as it had grown to more than 90% of the portfolio after today's plunge in Ariad.  I used the proceeds to rebuild my Ariad position, this time in calls that don't expire until January 2015, and at a low strike price.  This will allow me to capture any possible rebound in Ariad in the coming year.

Tuesday, October 1, 2013

Portfolio Allocation - 9/30/13

Here is my month and quarter end (9/30/13) portfolio allocation.  For simplicity, unless otherwise noted, all positions are long call option positions.

KERX - 58.9%
ARIA - 33.5
SPPI - 3.5
XLF - 1.0
SGYP - 0.9

Cash - 2.2