Momenta Pharmaceuticals, Inc. (MNTA)

[semi_infinite]

I am somewhat surprised by the commitment of the call spread buyer to hold on till this week as I expected a rapid decay in prob of anything happening by expiration. Yet here we are. Only 300 max or so of the 12 call contracts were closed by my guesstimate and 5000 is left. This will be an overhang on the stock whenever it goes significantly above 12. CEO has stated his guess of Dec/Jan as likely date of FDA action and I am curious how he arrived at that because the option market is unwilling to price in any event through June.