This is a risk tolerance question only you can answer, I think you can wait it out until Nov 1, only negative issue before Nov is the possibility Amarin received docs from FDA 2-4 weeks before public and something leaks out negative. Otherwise your probably Ok to wait it out, let option premiums drop a bit and revisit buying Puts hopefully cheaper due to stock price being higher.
Assuming you pay no worse then the current $2 for $14 Jan Puts you are worse case out at $12 and $115K profit after cost of puts, this assumes you have $70K to buy puts with without selling any shares.
If things go as most of us expect stock is $25 in January on it's way to $50 eventually and you lost $2 of profit by hedging.
The pain of seeing the profit disappear, in worst case scenario, is for you to decide how painful and how much risk, good thing is in almost any scenario stock likely stays above 6.70 basis you have just on current indication and potential could fire sale they could still sell the company for $12-15 a share.
YOLO is great, however, risking most of your investment money in one stock not smart, but it is the quickest way to get rich (and broke).
I have strict rules due to past history being burned on some individual stocks. If Amarin went to zero, realistically my life, happiness and future would not change dramatically, though it would suck to see money go but my good sized 401K is in the overall market, no Amarin at all so, I always have that to fall back on.
I'm 99.999% confident we get expanded label, 90% confident on patents since I have no skill there and knowledge is harder to find. I also know people outside the web boards (like in real life ha) that have way more insight into Amarin and FDA and they think it's going to end up better than I ever expected in the next year. Unfortunately the future is not guaranteed.
Best of luck on your decision.
