Biotech Values

[biomaven0]

buy 2 June calls at 12

But likely those go to zero (or close to it) if Teva got approval. So hard for me to see how that is a conservative strategy.

Buying calls makes little sense to me here. There is unlikely to be an explosive move to the upside (chances are better for a slow and steady increase over a long period), whereas there could be to the downside.

Selling just out of the money covered calls is a better strategy in my view. So still bullish (you are net long), but the premium gives you more income and/or some protection on the downside.

Peter