Call Spread on BIIB on 6/7/2021

Biogen Inc. (BIIB) discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases.

The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis. It also provides BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; and FLIXABI, an infliximab biosimilar referencing REMICADE.

In addition, the company offers RITUXAN for treating non-Hodgkin's lymphoma, chronic lymphocytic leukemia (CLL), rheumatoid arthritis, two forms of ANCA-associated vasculitis, and pemphigus vulgaris; RITUXAN HYCELA for non-Hodgkin's lymphoma and CLL; GAZYVA to treat CLL and follicular lymphoma; and OCREVUS for treating relapsing MS and primary progressive MS; and other anti-CD20 therapies. Further, it develops BIIB061, BIIB091, and BIIB107 for MS and neuroimmunology; Aducanumab, BAN2401, BIIB092, BIIB076, and BIIB080 to treat Alzheimer's disease and dementia; BIIB067, BIIB078, BIIB105, BIIB100, and BIIB110 to treat neuromuscular disorders; BIIB124, BIIB094, BIIB118, BIIB101, and BIIB122 for treating Parkinson's disease and movement disorders; BIIB111 and BIIB112 to treat ophthalmology related diseases; BIIB125 and BIIB104 for treating neuropsychiatry; Dapirolizumab pegol and BIIB059 to treat immunology related diseases; BIIB093 and TMS-007 to treat acute neurology; BIIB074 and BIIB095 for neuropathic pain; and SB11 and SB15 biosimilars, which are under various stages of development.

The company has collaboration and license agreements with Acorda Therapeutics, Inc.; Alkermes Pharma Ireland Limited; Bristol-Myers Squibb Company; Eisai Co., Ltd.; Genentech, Inc.; Neurimmune SubOne AG; Ionis Pharmaceuticals, Inc.; Ginkgo Bioworks; and Capsigen Inc. 

With potential news of the FDA's decision on its alzheimer drug, this stock should see an increase in share prices if it is approved.

We will be trading June 18th Call Spread

Last Trade: $286.14

Trading Range: $223.25 - $363.92

Trade Buy 1 June $285.00 Call at $39.75 Sell 1 June $300.00 Call at $34.00 For a net debit of $5.75 Profit/Loss Analysis Breakeven at $290.75 Maximum profit is $925.00 at strike of $300.00 Maximum loss is ($575.00) at strike of $285.00 Closing Summary Sold 1 June $285.00 Call at $130.00 Bought 1 June $300.00 Call at $110.00

Position closed on 6/7/2021 at price of $20.00 with a 247.83% gain in 0 days.

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