Put Options on AMRN on 11/28/2018

Amarin Corporation plc (AMRN) focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States.

The company's lead product is Vascepa, a prescription-only omega-3 fatty acid capsule, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.

It is also involved in developing Vascepa for the treatment of patients with high triglyceride levels who are also on statin therapy for elevated low-density lipoprotein cholesterol levels.

Amarin Corporation plc sells its products principally to wholesalers and specialty pharmacy providers through direct sales force. It has collaboration with Mochida Pharmaceutical Co., Ltd. for the development of EPA-Based drug products and indications. 

Shares have formed a bearish "head and shoulder" and lower share prices are expected for this stock. Note the 50-day moving average shown in brown.

We will be trading December 21, 2018 Put options

Last Trade: $17.25

Trading Range: $2.35 - $23.34

Trade Buy 1 December $15.00 Put at $0.80 For a net debit of $0.80 Profit/Loss Analysis Breakeven at $14.20 Maximum profit is unbounded Maximum loss is ($80.00) at strike of $15.00 Closing Summary Sold 1 December $15.00 Put at $0.70

Position closed on 12/21/2018 at price of $0.70 with a -12.50% loss in 23 days.

Updates

12/21/2018 9:52:04 AM

AMRN $15 Put sold for $0.70

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