Anavex Life Sciences Corp (AVXL)

[EarthBard]

Again, hard to believe - 250 contract bid of May 17 option $5 @ 0.05

This contract almost never has a bid 30 days from expiration let alone 2 days before expiration.

So someone out there is willing to buy the right to purchase 25,000 shares worth of stock for $1250 on the insight that the stock will be at or above $5.05 (to break even) in just 13 trading hours?

That implies a +$1.60 gain or better yet $0.12 per hour until market close on Friday.

I know not every one out there follows the AVXL option market like I do using a coveted call strategy, but that type of premium % for an out of the money call this short time from strike is outrageous!

It points to a either a huge price explosion in the next two days or a large options buyer who has just plain gone off their rocker and wants to give money away on a 2 day pipe dream.

We will know within a few hours of market opening.

Crazy,

EB