Actually just the opposite, the Call activity has been much higher, much more across the board (strike prices and months of Sep and Oct), and much more consistent for both Sep and Oct. Hence, not much of a negative from an option standpoint and a very positive activity with Call purchases. Bashers/Shorts should be much more worried due to the Call activity with not much Put activity nor consistency.
I think you're seeing a lot of activity both ways, as one thing the serious traders think, is that there will be MAJOR movement one way or the other. I wouldn't be surprised that the same traders are working this play both ways.
Iwin, again can you drop some knowledge on me. Why is NAVB going to be different than IRWD yesterday. With such a low amount of institutional ownership and a stock price under $4 dollars do you still believe we're going to jump on approval? I'm not worried about the long run, this stock is a strong buy, but are "lab tests" sexy enough, no matter how much better they are compared to the current ones, relative to new potential blockbuster drugs to entice the institutions to buy? Thanks