Biotech Values

[iwfal]

As previously noted, I think MNTA call writers are being penny-wise and pound-foolish and are deluding themselves by believing that they are not making highly consequential gambles about event timing.

I would suggest that everyone has:

a) different amounts of volatility that they can sleep with at night.

b) different liquidity and cash flow needs

c) different tax needs

...

Yes, some strategies are objectively foolish (because there is substantial risk of taking the entire portfolio down 90%) - but short of that I would suggest that it is just different strokes for different needs. E.g. writing calls is a way of lowering volatility in something that you see as promising - and for some people it is worth the vig to sleep better at night.

PS Never written a call in my life. Just don't think it is inherently foolish.