Revance Therapeutics Inc (RVNC)

[jmkobers]

I realized in Nov of last yr when decision was due it would most likely be delayed - probably at least 6 months. Ever deal with a bureaucracy?

I have played options since (mostly covered calls) in this long dead period, grabbing premiums for the 30 & 35 strikes which, month after month, continued to slide by. I believe the company selling via the ATM contributed to the tight 25-30 range. However, I think now is the time to pause the option strategy and await approval. I expect it by June at the latest. If it does happen, the option prices will rise substantially, at which time it might make sense again, albeit at higher strikes (40 & 45??).

Hope I am right, hope you are too (about the 10b especially), and if you are, screw options because it just won't matter.

Regards, Joe


PS - Dew. Hear anything? No? Me neither. It's a beautiful sound though. People sure had lots to say in summer '19