What's best?, buy the stock, buy options or sell covered calls?
It depends on where the stock price is going. The options for Jan (16 & 17.50) are pricing in a big run in share price. Share price has to increase $4 and $5 respectively just to break even on those options.... Regarding covered calls; you could sell Feb 14's and pocket $3 now, with downside protection down to $11 if things don't work out like they're supposed to... I've got mostly options, but I'm thinking of just switching to the stock in case there's only a modest run on the news or if the market keeps MMR down...
Personally, on a highly speculative security like this, I'd much prefer to hold it long in the highest leveraged position possible, and that's in 2014 calls (I hold the $15's). It's pretty much an all or nothing proposition, they're right and the stock flies, they're wrong and it's over, or the stock just struggles along marginally able to hold its own.
Trading something like this is a pure crap shoot short term, it's all down to the news they produce. If it disappoints, the stock craters to single digits, otherwise the good news might already be priced in to some extent. Either way, I'd prefer not to be exposed unless the upside is huge, and you can only get that kind of leverage with long-term calls.