Optibiotix holding reaches 100,000 shares

There was never an ambition to get to 100,000 OPTI:Optibiotix shares until recently. I think it was when I passed 90,000 the glimmer of that idea started to form. There's no way I would have done it without the absolute fire sale that's going on at the moment though.

When OPTI went back to 46p, and when I saw SBTX:SkinBioTherapeutics being hammered almost in sympathy, I decided the potential rewards for getting in at these prices were worth some sacrifice.

It was a painful sacrifice, as I've been building a position in CAML:Central Asia Metals for a long time, and it's the best run company in my portfolio. However, looking at old purchases I realised that if I had kept each purchase on a separate line in my spreadsheet, about 2,000 shares worth would be in profit now.

So although on paper I made a loss of £278.48 (6.9%) by selling them now, that's only because my paper losses on the remaining shares would be significantly greater without the ones purchased at a much lower price.

That's how I justified the sale to myself anyway.

I also offloaded all the commission charges for buying the shares onto today's sale, so the remaining 3,000 are free of purchase commission when judging performance.

This liberated £3,776 as ammo for OPTI and SBTX.

I only wanted to get just over the 100,000 target for OPTI:Optibiotix shares, so bought 3,000 at 46p costing £1,391.95. This brings the weighted average in my SIPP down to 66.4p.

Where does this leave me overall?

I have 100,023 shares costing £66,196.14 at a weighted average of 66.18p if you include all the commission charges. Unfortunately they are only worth £42,974.04 so are losing £23,222.10 (35%). That's really, really painful, but I still believe this is short term pain, as there's nothing that has changed my outlook and excitement about being part of this company.

I've wanted to increase my holding in SBTX:SkinBioTherapeutics for a while, as despite already owning a good chunk courtesy of my OPTI:Optibiotix shares, it's likely those will be converted to a cash dividend at some point, and SBTX may be too expensive to buy by then.

I managed to snap up 16,983 at 14p costing £2,389.57 with commission.

I'll keep a tight hold of these, as I'm convinced they will become profitable as soon as this blip passes, and given we're expecting news of a deal soon, they could rapidly increase in value. I'll aim to trade my ISA holding on peaks and troughs, as that's only 7,285 shares and I'll feel more able to risk being out and missing a surge if I still have a long term holding. The ISA shares cost me 19.5p and are 32% down, so it will be a wait till I can sell them. More evidence that I'm crap at trading!

The week is continuing my portfolio misery, with a drop of £5,937 so far. That's enough to cross the combined cash injection line so is utterly disastrous. All I can do is hold on and wait. I've made all my moves and some painful sacrifices, so let's see if it was worthwhile...