prior to approval. this will cause the stock to tank around 30% and then trade between 10 and 20 until they finally render a decision. the hedgies have sold too many options to the common folk (look at the may contracts outstanding compared to any other month). they'll want these to expire worthless, just like me.
ha ha, very clever. i, too, think approval is a lock, but not until august 15th. i've sold a buttload of may 10 puts and may 25 and 30 calls at ridiculous prices to the silly retailer investors. i just hope to be able to do the same thing next month.