FDA Plays

[jrbritt]

Very high volume from AVNR on Thursday. 16.8 m traded and avg is 4m a day. I was lucky enough to buy some calls in the morning that closed the day up 40%. Lots of short interest in this one so maybe the move was attributed to shorts closing positions. Some are anticipating script #'s from Nuedexta to be released in May so maybe some shorts didn't want to risk good numbers or maybe a lot of longs coming in expecting good numbers.
Not really a defined catalyst here so I am skeptical to take much of a position but I will keep an eye on it this week. I like Nuedexta sales long term but I don't know that many scripts have been written in such a short time after launch. Some of the numbers being reported from AF are on par with expectations but it will all come down to how market views the data when released.

I'm in with just 20 September $3.50 calls @ 0.60