look at the April calls .10 to .20. By April they should know whether a generic drug for dacogen will be used. If there is none we may push back to $3.10 to $3.20 range thus making no money for the seller of covered calls. But from now to then it could go below $2 making money on your calls before going up. Either way they win.
They shorted the shares back in the $3.40 mark. They also bought many put in $2.50 and $3. They also was selling many $2.50 and $3's extended out till Jan 2013. No matter what you do they will beat you, because the casino alway wins at the end.