Looks like ASND facing resistance at 36, but holding gain today while other techs losing some ground which is a good sign. News about BT switch sales not really news. 50 lousy switches?? I think I could buy 50 switches, no? Potential, I know, to sell more. Also, while reading through ASND news earlier in week, read some analyst comment about ASND possibly making new product announcements soon (a necessity in his opinion), and possible new contracts, which should also give a nice boost until earnings. Too many positives for this stock right now - add analyst upgrades, window dressing period - has me worried more than ever for that possible bomb ASND has on occasion dropped on me and fellow longs.
Possible strategies I'm considering to hedge myself: sell some ASND Apr 40 calls. Don't like this one not because I'm afraid of losing on upside on ASND, but if a bomb is dropped, the 2 or so points I make per contract will barely cover the losses from a possible 5-6 point drop in stock. Other strategy: dump ASND towards end of week at 38 (from further run-up I expect due to window dressing), and buy Apr 40 calls a few days before earnings announcement. Because they would be very close to expiration, and assuming volatility is about where it is now (possibly lower in coming weeks, but higher as it approaches earnings), I think I can pick them up pretty cheaply. I don't think ASND will cross 40 until earnings are confirmed on April 16th. Please someone give me some ideas. ASND isn't exactly a MSFT you buy and forget in your account knowing it will double in 2 or 3 yrs. Need advice! |
