Replies to post #35820 on NorthWest Biotherapeutics Inc (NWBO)

[TZOR]

Correction, the $15 puts selling at $7.20 have $1.20 of extrinsic value and $6 of intrinsic value. I initially typed $8 of intrinsic value and that is incorrect, it it actually $6

[gnawkz]

Just one quick clarification, I think you meant to say $6 of intrinsic value vs $8. Guess someone REALLY wanted those PUTS.

My thoughts below:

This is a VERY strange straddle and hard to interpret.

The "Ask" bid for all of the July Calls are priced at $0.25 from the $11 strike and above. Thus, it makes almost no sense to me to purchase ANY STRIKE above $11 as they all cost relatively the same. Considering there is obviously a higher probability of hitting $11 then $15 and the cost to acquire both are equal, this action confuses me. The correct straddle purchase on the Call Side should've been at the $11 strike.