Amarin Corp Plc (AMRN)

[bravo33]

Just took a quick look. Jan'14 7s and 10s look decent, and if you believe in Vascepa then just about any Jan'15 (goes up to 22 strike) is worth looking at. Best Jan'15s for my money are 15s and 17s - but you need to adjust your buys based on how aggressive or conservative you want to be. Right now I own Jan'14 6s, 10s and 15s as well as Jan'15 8s, 12s, 15s and 17s (equally distributed).

Sure, if you own Jan'15s and we're so fortunate as to see a BO, say, January 2014, then the premium will run right up so strike plus premium are within pennies of the BO price. It will stay there unless counterbids come in. As long as your Jan'15s with premiums paid are at or below the BO price you're in the money and can close calls to cash out. There are others on this and other sites more learned than me on options but I think that answers the question.