Put Options on MNK on 4/22/2019

Mallinckrodt plc (MNK) develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally.

It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.

The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.

It offers H.P. Acthar Gel, an injectable drug for various indications, such as rheumatoid arthritis, multiple sclerosis, infantile spasms, systemic lupus erythematosus, polymyositis, and others; Inomax, a vasodilator to enhance oxygenation and reduce the need for extracorporeal membrane oxygenation; Ofirmev, an intravenous formulation of acetaminophen for pain management; and Therakos photopheresis, an immunotherapy treatment platform. 

Shares have formed a bearish "flag" and lower share prices are expected for this stock.

We will be trading May 17th Put

Last Trade: $18.23

Trading Range: $11.65 to $36.65

Trade Buy 1 May $19.00 Put at $1.75 For a net debit of $1.75 Profit/Loss Analysis Breakeven at $17.25 Maximum profit is unbounded Maximum loss is ($175.00) at strike of $19.00 Closing Summary Sold 1 May $19.00 Put at $5.10

Position closed on 5/1/2019 at price of $5.10 with a 191.43% gain in 9 days.

Updates

5/1/2019 10:04:32 AM

MNK May $19 Put option closed at $5.10

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