Never thought we would be below double the pre-results price of 2.30, but here we are. Maintaining my long position, but worried that shorts and dumpers are manipulating the market price. Like it or not, this definitely affects the price increase or decrease due to future catalysts. If the company decides to dilute, I can see the price dropping into the upper 3s, which seems absolutely ridiculous considering we have a safe, .001 p-value, ph3 drug in an untapped market. Management needs to stop the bleeding with a CC that indicates the direction they will be taking in the next few months.
Peron is a worthless idiot, the low in my opinion near. I see them taking it down to 4.30 maybe next week and selling heavy Dec $5 puts. The volume was already picking up on them. Once they are happy with their stock accumulation and put selling I see a swift rise back to $5 the week options expire. Smart money is accumulating and selling puts, dump money like peron will be buying those Dec and Jan puts which will expire worthless.
I've sold then Dec $5 puts for 50 cents and the Jan 4 puts for 25 cents. I've accumulated the march $3.5 calls because I believe real good news, either partnership or accelerated approval, will become announced by mid March when those expire.
Disclosure: I'm up $650k and sold out at an average of $6.10. I reentered at 5.15 and have been accumulating on the way down.