"... simply being long the stock is apparently not exciting enough for some of the readers on this board." Oh, come now, Dew: That's disappointing, particularly because it's disingenuous.
I'm sure you know the options game as well as anyone, even though you more or less disdain it, and you know that a lot of options plays--selling married calls, for example--are certainly not meant to be a recipe for "excitement". Quite the contrary, it's a risk-reduction technique, as well as--at times--a way of generating remarkable gains without taking on excitement (risk). The only reason I mention it here from time to time is that a lot of people are unaware of the possibilities and only think of options in terms of buying calls (which will usually generate enough excitement--and losses--to satisfy anyone but a determined masochist).
Stocks held by the enthusiastic are the best plays along this line, and MNTA fits into that category right now, and has ever since approval. It's been fully three months since that approval, and it has been relatively easy to sell calls on shares two or three times, at handsome premiums, to those afraid of missing out on an "abrupt rise" and/or wanting to take advantage of such an event. In my case, I've collected just over $2.65 a share in premiums on expired (and about to expire) calls.
Personally, I have to wonder at anyone willing to pay anything for the right to buy a $16.35 share at $18.20 for only the next two weeks. To me, that's just another instance of failure of the "efficient-market hypothesis", and one which should be taken advantage of.
As far as buying calls making any sense here--obviously I think it doesn't, since I'm selling them. However, those seeking "excitement" (through the measured loss of money?) may see it otherwise, I suppose.
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