I'm still averaged in at $4.77 and grabbed a stack of puts Friday. Now I'm hedged, like I was when Direct data came out last year. If it goes up I'll make less, though I won't lose, but if it goes down from here, which I think is more likely than not, I'll protect the appreciated value of those shares. I think others would be benefitted also by this strategy and that's why I divulged it.
It's too easy for this to go down on the slightest disappointment/fear. No ORR could be one thing that does it. Low reimbursement #s and lack of forward guidance on sales in Germany could be another. Do I think the stock should be worth more than $12 right now? Yes. Do I think for one second the market will agree before 2016 if there is no halt for efficacy to the Ph III? I don't. But it's just one man's opinion.
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