Put Options on NVO on 9/6/2016

Novo Nordisk A/S (NVO) is a European healthcare company.

The firm engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide.

It operates in two segments, Diabetes and Obesity Care, and Biopharmaceuticals.

The Diabetes and Obesity Care segment provides insulins, GLP-1 analog, obesity, and oral antidiabetic drugs, as well as other protein related products comprising glucagon, protein related delivery systems, and needles.

The Biopharmaceuticals segment offers products in the areas of haemophilia care, growth hormone therapy, and hormone replacement therapy.

The company markets and distributes its products through distributors and independent agents in North America, Europe, Japan and South Korea, China, Hong Kong, Taiwan, and other countries. Novo Nordisk A/S has a collaboration agreement with the Langer Laboratory. 

Shares habve formed a bearish "flag" formation following several developments for this company. The company's long term CEO said he is retiring at the end of 2016. Last month, the company said they lost a "sizable" contract for its top-selling insulin NovoLog. At its latest earnings release, the company lowered its guidance for the full year. Lowr share prices are expected for this stock.

We will be trading October 21, 2016 Options.

52-Weeks Trading Range: $45.36 - $59.00

Last Trade: $45.80

Trade Buy 1 October $45.00 Put at $1.00 For a net debit of $1.00 Profit/Loss Analysis Breakeven at $44.00 Maximum profit is unbounded Maximum loss is ($100.00) at strike of $45.00 Closing Summary Sold 1 October $45.00 Put at $5.00

Position closed on 10/4/2016 at price of $5.00 with a 400.00% gain in 28 days.

Updates

10/4/2016 10:34:44 AM

We are taking profits on NVO $45 Put options. Closed at $5.00.

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