Go look at the 20s high in MNTA - it came the day of the patent ruling against SNY. The stock spiked to low 20s and then reversed down 30% in a few hours with shorts pounding it. It bottomed a few weeks later in the high single digits, recovered to mid teens and then collapsed to 4s. The shorts get it right more often than not given all of the hurdles to success in BP.
And one could have played ZGEN correctly. It would have involved shorting the calls and shorting the puts noticing the noise of the longs and the noise of the bears. I was ready to pull trigger, but fresh off monoline guarantor losses, I held back.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.