Just to point out that my experience on cover Sept $30 Calls..Last several days from last week I sold Sept 30 Calls for defensive move but this stock is acting very strong with Sept 30 Call selling very quickly with exceptionally high premium..I was able to sell 500 Calls above BID price every time I offered ...This is unusual for INCY option trading...I will not sell anymore CALLS....My feeling is something big is working near term and well financed trader is betting big. VERY BULLISH SIGNAL Look Call option interest.. GLTA
Good catch! My take on that is an insider is probably betting big on PC trial results. Wishful thinking by me, perhaps, but what else could one expect to move the stock that much. There has to be a good reason, people don't pay those kind of large premiums on next month's contracts unless they're expecting some kind of large catalyst.
Pharma, I agree 100%, this Call premium is too high for normal reasoning to bet on one month ...this is reason I sold cover CALLs for defensive move with uncertain Sept. month last week..not having current strength data to go with....I am not selling anymore cover call based on good strength today.
I think when overall market turn upward, investors will have to turn toward biotechs again with poor retail, tech, houseing showing this week....
Friday, 8/16...Sept 30 Call @$ .80 fee for $3.00 under strike price is unusually high premium is someone think you can make over $3.80 by Sept 21st... that is bullish confidence, somebody has to believe in big event coming before Sept 21st...it's not normal trend line appreciation target price