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Biotech / Medical : Arena Pharmaceuticals (ARNA) -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (2216)	2/20/2014 7:09:04 PM
From: wolfgangrene	1 Recommendation Recommended By Justinfo Read Replies (1) \| Respond to of 2274

Thanks OX. If I have one specific trading failing, it's that stubborness of holding til 'death do us part'. Still holding some JNPR calls, expiring tomorrow. Bid 0, ask .02. But, life is uncertain. A few years ago I bought some puts on a pharma. I can't remember which. I probably paid .25 per contract a week and a half before expiration. The day before exp. the bid was zero, ask was .02 and I put in a market sell so I didn't have to even think about it on expiration day. Friday morning I couldn't log into MBTrading (which is why I don't use them anymore). At about 10 AM, Tony at Tradersmarts emails me asking don't you have those XXX (whatever puts). I said probably not, I put in a GTC market sell. He says, 'To bad, they had an FDA rejection, it dropped 8 bucks overnight. I called the trade desk at MBTrading. They said, no we didn't sell your puts because of a price discrepency. They were now 3.50 per put instead of no bid. Well, I screamed 'SELL AT MARKET AS FAST AS YOU CAN !!!!!" Not too often, but once in a while you step into the pot of gold at the end of the rainbow by mistake.