After some serious weakness in biotech stocks in general, GILD has seen a nice run post earnings. But it’s running hot and coming into some resistance, so I’m expecting this stock to cool off a bit.
I’m going to take a bearish fly in GILD. This is 1/3 of a position.
Sell to open Jun 77.50/85 call spread for 3.05
Sell to open Jun 77.50/70 put spread for 2.05