tampa,
Well, I din't give you all the story. For every share I bought, I sold a May 2004 $2.50 call option and pocketed the $.50 to $.55 that I sold them for. So, my cost per share is between $1.37 and $1.42.
Even I think Wave won't go that low in that short a time frame. If it goes over $2.50 by then, I make over 76% in a six month period.
Pretty good risk reward ration in my opinion.
CPA
P.S. That you guys who bought those options. ;-))