Biotech Trade Update

Playing with the house's money.

Playing With The House’s Money

In a trade alert a couple of weeks ago, I wrote about a microcap biotech with a promising treatment to aid cancer patients.

That biotech stock was BioLineRx (BLRX 0.00%↑) and the trade was buying the $2.50 strike calls expiring on September 15th for $0.10. When we posted that, BLRX was trading about about $1.38; on Friday it closed at $2.02, and those calls last traded at $0.35, after the company reported better-than-expected earnings. 

Assuming that call option trades at a similar price on Tuesday, subscribers will be able to sell some of their calls for a 350% gain, and play with the house's money with the rest, as we await the potential FDA catalyst scheduled for the end of the week.