Sorry, what you're saying explains exactly how AFFY and CHTP are PRICED.
I did read all publicly available documents on CHTP, including the infamous report from Dr. Blank, which I believe is the only known negative document which explains market negative view on CHTP. Please give me a single other reason CHTP is below $5 / Northera should not be approved.
The bizarre situation is that the market actually accepted the view that Dr. Blank's report is bogus by giving CHTP 50% boost [after dropping to $2.40 level] on panel's recommendation. However, the market seem to be stuck at $3.50 or so. This is a completely artificial number. You may buy some puts for protection, but it just makes no sense for CHTP to stay at $3.50 long term. I'm actually bullish enough to think buying puts now is a waste of money, on that I may be wrong.
Well, actually that might be a great candidate for shorting in my opinion - AFFY had a great run from $4 to $12 over last couple months. I'd be reluctant to get into AFFY long at current price levels, but let's just hope CHTP should repeat the same feat.
Yeah, you might be nuts to jump in now. I still believe that there is some good upside potential upon approval, but if you arent already in, you've already missed out on huge gains. Then on the other hand....AFFY should easily shoot over $15 maybe up to $17/$18 on the day of approval, so there could be some big gains left. Its actually still has to fill the gap up over $20 so I'm slowly changing my mind.....maybe buying AFFY is still a good idea at this price. I'm in AFFY and CHTP and both will be getting big news within a day or two of each other.