Thanks DonDon. You're trying very hard to win the Top Post of Year award. You definitely get an "A" for effort.
I love when "investors" think they understand the options market. First, one needs to understand for every HGEN option sold there is a buyer of that option who has incentives that are the exact opposite of the seller. The fact you think the sellers of the $2.50 puts who sold them for $1.00 and thus, have a potential basis in shares at $1.50 need the price to move to $2.50 by July 15th is comical. On the other hand, the put buyers, have every incentive to get the price as low as possible given they need HGEN under $1.50 to make any money. One can argue a put buyer might be hedging a long position, however, nobody hedges downside risk on a stock trading at $1.60.
You're also talking about very puny total dollars at risk in these option trades.