Boimmunomabman, Carl shook up Imclone pretty good, and Mylan Labs; they were not too much bigger than IMGN. I think an activist investor is what is needed because Dan and his cronies don't worry about us little guys, and the institutions will only vote with their feet, not force this management to get it together.
BTW, I am trying to get my feet wet in options. Any recco's on IMGN options?
best option play depends on your outlook. If you think price will not move up that much, I would sell the Jan 12 put. If you think price will go up, but not soon, a longer dated near, or in the money call might be best. April calls are not overly expensive. Not a recommendation, but IMO some decent plays here.