Those that have followed my last few posts know I moved into options. Most of those options have been executed. With the recent pull back, and the "extra stock" in my account from the October massacre. Now is a good time to take a little off the table.
Your NEVER wrong to take a profit. 20% - 50% and letting the rest run means is a a good way to do it depending on if your on Margin and how many shares you own.
The FDA is notorious for Delaying an approval and asking for additional studies. If the drug gets approved but only under the strictest labeling, then that do could cause the stock to dip allowing a buy back.
If it spikes - you still win.
If your on Margin, I'd advise to get off margin, it's been an almost 100% run.
Evaluate your positions and decided what's best for you.
I held in October, and then started buying it down until I was broke and it still dropped beyond anything I'd imagine. A lot of traders are in this, don't get stuck, don't panic.