doesnt it. step by step. Now we have resistance overhead around 4.50/4.60. yesterday it was around 4.88. a 60 cent plunge today. another 60 cent or 50 cent drop from 4.50 resistance arrives at the 4 dollar target . and plenty of time to happen this week. Hopefully insty buyers will jump in again at 4 dollars.
sometimes, Gator, I hate when youre right. lol
but right here at 4.30 is the 50% Fib retrace target. the 62% target is the 3.80 area
.... and is the news cycle basically waiting about 3 or 4 months for trial results. several technical roller coaster waves like this can happen in that much time. buy low/sell high dont forget to take some profit at the tops.
October is definitely the right month for speculation on the binary outcomes. They could release data by July but there's a chance the expiration comes and goes before a release. Current IV for October is 150 but it will creep to 200-225 by late June lifting option prices. I like experimenting with options strategies. I just did a risk reversal selling 5 October 2.5 puts to help buy 5 October 7.5 calls for .50 per reversal contract. If we have a negative outcome on both studies, the stock will go to about 1.25 so this strategy is risking 1.75 x 500 to gain potentially far more.