So far I have 10 contracts @ average cost of $10.85. As you can see I am slightly down on my position. I will watch how it trades next week before adding more calls. I would not recommend strike $40s as it is too far out. Stay within $12.50 and $25 strike. And make sure you are hedged.
Here is what I am doing, I am holding May $12.50 Calls. If the stock runs up ahead of the event to let's say $25, I will buy May $20 Puts to hedge. I don't like spreads goint into binary events as it limits your gains. I did a similar play on ESPR and I did very well on that trade although I took my profit a little too soon.
That's the air coming out of shorts, they are so nervous that they keep releasing the air.
smelky, do you know if the abstract that will be presented on March 20th will be made public before March 20th? I understand all abstracts are made public 2 days before the presentation, is that true?
You guys can give thumbs down all you want but that does not change the fact. You can go to ICPT investor relation and read it for yourself.
Study 009 data before the end of March is another huge catalyst.
Hope you are right. Next week will be interesting, Genfit may release their data plus ICPT presentation.
Sentiment: Strong Buy
Wally ... I read the propectus and you are right about the lock up expiration, around March 23rd. Damn, this puts another twist to the story.
And if you are referring to the secondary that just closed on Feb 9th, I doubt 1 million shares will have any significant impact to the share price IF you are right with the March 23rd expiration date.
This is the dumbest post I have seen in a while.
1) Why would the brokers be so kind to the insiders for them to sell at high prices? Why didn't they do the same for GPRO, BABA, TWTR, CYBR and many others. Your thesis is totally flawed.
2) Lock up expiration was on April 9, 2013 so I am don't know what lock up you are dreaming of ?????
ICPT will rocket up big time, if Genfit successful, then I am not sure how ICPT will react.
Any thoughts ?
abalest1: why is Genfit trading so weak going into the big event? Today, share price was flat on below average volume. Usually stocks run up in anticipation.
Does this mean PCYC shareholders have the option to take all cash ??????
"The deal will consist of about 58 percent cash and 42 percent AbbVie common stock. Pharmacyclics stockholders can elect cash, AbbVie stock or a combination, subject to proration, the company said in a statement".