Idenix Pharmaceuticals (IDIX)

[io_io]

IDIX $3.69 - <"a real shellacking today...">


Ok, probably time to take profits on my Puts.

I have DNDN call options too (March) and I like to buy offsetting Puts on something else, as then market movements are likely to magify one or the other. While the DNDN calls have struggled, in this case my Put choice was IDIX, and it has paid of with a 6-bagger at this moment.

Actually if IDIX recovers to anywhere near $5, I would consider the @2.50 puts as a super-cheap sporting possibility.

Why ? Well I expect that the inevitable IDIX financing later this year will be around the $2.50 price-point.