Sell Your Options in Novo Nordisk

Nicholas Vardy

Nicholas Vardy has a unique background that has proven his knack for making money in different markets around the world.

With the market rallying sharply yesterday, and our Danish biotech play rallying 1.9%, you enjoyed partial recovery in the value of your $120 June Novo Nordisk call options (NVO110618C00120000).

Because “implied volatility” is such a big component in the value of these options, I am recommending that you sell your options here.

Now, it’s going to be at a loss compared to your buy price way back on Feb. 16. But yesterday’s sharp jump does allow you to salvage some more value before the options expire this Friday, June 17.

Hold on to the stock for now, as NovoNordisk (NVO) has proven to be one of our better defensive plays in the market downturn.
 

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Global stock markets can't seem to catch a break. After six straight down days, the markets rallied last Thursday, only to give back their gains with a sharp drop on Friday.

With the market down a whopping six weeks in a row, this is the longest negative stretch for the Dow Jones Industrials since 2002 and for the S&P 500 since 2008. The NASDAQ is now negative for the year, while the S&P hangs on to a slim gain of 1.1% year to date.
 
I continue to

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