I mentioned having bought puts on MRK, MCK and LULU some time back.

Just wanted to share some recent developments. MCK ..lol..look at the daily chart. As for MRK, I thank Z for helping to shape my trading paradigm forever!

On Oct 18th : Citigroup upgraded Merck (MRK) to a Buy from Neutral (that's when I knew my puts would really make some money)
https://www.benzinga.com/analyst-ratings/analyst-color/17/10/10192709/boosted-by-keytruda-citi-upgrades-merck-to-buy-for-the-

The firm's Andrew Baum upgraded Merck's stock from Neutral to Buy "for the first time," with a price target boosted from $65 to $72.
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Then premarket earnings report/conference call came out yesterday Oct 27:

https://seekingalpha.com/news/3305367-merck-logs-ugliest-day-six-years-q3-revenue-miss-shares-6-percent
Merck's (MRK -6.3%) Q3 revenue miss, though modest at 2.1%, is weighing on the stock. Shares are down on triple normal volume.

Many eyes are on cancer med Keytruda (pembrolizumab), the company's fastest growing product. Sales were $1.047B (+194%), slightly behind Bristol-Myers' Opdivo (nivolumab) at $1.265B.
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Followed by.... news release after day session ended (nothing was mentioned during conference call on this issue)

Merck (NYSE:MRK) shareholders now know the main reason behind today's selloff. After the close, it announced that it has withdrawn its marketing application in Europe seeking approval to use Keytruda (pembrolizumab), in combination with pemetrexed and carboplatin, for the first-line treatment of nonsquamous non-small cell lung cancer (NSCLC), a large potential market being hotly pursued by a list of competitors.
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I so luv this game ! :) ROFLMAO !!

dc