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Biotech / Medical : Teva Pharmaceuticals

TEVA 20.03

-1.1%

3:59 PM EDT

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To: Lance Bredvold who wrote (337)	1/9/2024 11:43:56 AM
From: Lance Bredvold	of 340

Sold at $9.40 but when the price did not immediately drop, bought back even more shares at $9.30. Not much gain. However, yesterday we were hitting a new high from 3/21 and up to $11.49. I managed to sell $11 calls on somewhat fewer shares than that last buy for $1.50. Since that buy happened in early Sept and these would expire or be called in mid June I either get a short term return of 16% in slightly less than a year if the option expires worthless. If it is exercised on the expiration date I will gain 34% over the same period. I'm happy with those results though they only apply to 20% of my shares. This is just good luck rather than intelligence since I did not have a good reason to believe the price would rise so much over the next 6 months. But many of my gains have come as the result of taking advantage of fortunate circumstances. I now enter an offer to sell another 20% at $12 for 1.25, also in June. All shares put at risk are in a taxable account with no remaining high cost shares available. So this gain will be short term in either potential case and will have to go against that last buy at $9.30--NO, that's wrong, I can choose (I think) to have them go against earlier trades at a lower buy point. I'll have to check with someone at TDA (I'm still not converted to Schwab and they say I will be in March) to see how to accomplish that if it is in my best interest. I'd still have a short term gain of $1.50 I'm sure, but the other $1.70 could perhaps be long term but against a price of $8.40 and $8.00 so over $3.60 long term. Mostly depends on whether I intend to sell more in the future. I guess the best situation is to have the calls expire worthless and then to sell the $12 calls to expire after September 24.

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