This is a sad day.
Our run of no losses since 2011 is broken. There is no defense against fraud.
When CLDN stopped a trial on one of their drugs, that was no big deal. Not all drugs will work out and we saw it as a positive sign that the company was being responsible and not wasting money on a failed project.
The Options Oracle kept looking and it appeared that the insiders were buying. That was a fraud. Therefore we are joining a class action lawsuit against them.
This stock could go to zero, and as you know, we consider safety first.
Our hope is you only put 5% of your portfolio in this position as we did.
Here is the link to the lawsuit.
Summary of Trades:
CLDN ~ Sell
CLDN @ $1.25
Cost basis $7.50 per share.
Premiums collected: $1.55 per share
04/21/2015 Sell To Open CLDN May15 7.5 Put $1.55
Celladon Corporation, a clinical-stage biotechnology company, focuses on developing cardiovascular gene therapy and calcium dysregulation. The company’s lead product candidate includes MYDICAR that uses genetic enzyme replacement therapy to correct the Sarco/endoplasmic reticulum Ca 2+ -ATPase 2a enzyme deficiency in heart failure patients that result in inadequate pumping of the heart. Its MYDICAR product is used to treat patients with systolic heart failure, diastolic heart failure, and advanced heart failure, as well as to treat pulmonary arterial hypertension and arteriovenous fistula maturationfailure. The company is also developing membrane-bound form of Stem Cell Factor for the treatment of cardiac ischemic damage; and compounds for the treatment of diabetes and neurodegenerative diseases. Celladon Corporation was founded in 2000 and is headquartered in San Diego, California.
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