Celsion Corporation (CLSN)

[sdtrond]

I did buy some Oct calls, but those were back when the company had said the results would be by end of Sept. They are in doubt now, and I think too risky. I'd rather pay the extra premium and go Nov or Jan.
But the shares theselves are still so cheap that they present the best value, IMO.

You are correct, selling calls here is a fools game except if you have no desire to see whther HEAT works or not - if you simply buy CLSN now and sell the Oct $2.50s you'd make a "freaking awesome" return annualized.

I would say that in the event of an interim success (yes, still unlikely, but I peg it at about a 20-30% chance), selling calls at whatever bumped price we see would be a good strategy. In other words, if we bumped to $17, selling Jan $20s would be a good play. Or, selling DITM calls at $10, and expecting a pullback, buying them back later.