I'm long by way of having sold 240 Nov. $5 puts for an average price of $1.90 pre-PIII announcement -- and thought briefly about selling more on account of the premium still so high, now at $1.10 today -- so I'm not worried about this short term silliness. This stock will be much higher one, two and several months from now and the entire approx. $45K in premium I collected on this trade will booked. Good luck to longs; stay patient and you'll be rewarded. As an aside, I sold my puts when the stock was at $4.07 and then dipped almost to $3 on the secondary news. the story didn't change then, I stayed patient and rewarded. the story HAS changed since then, only gotten better, and the stock will be much higher soon. remember, this great story is in tact, there's little risk now that the great news is out. be smart about b.s. like, "DaVita doesn't trust the trials" or some unknown firm has a research note out. same silliness dropped the stock the night before the results and those that bought into the paranoia and fear, lost money and profits that occurred the very next morning on the PIII news release. so, be careful and exercise some common sense here. the stock is poised to head much higher.