OSIP stopped out as a short within an hour, their new drug TARCEVA was not yet approved but its trading as if its going to be the next DNA big seller AVASTIN and it might either be NON approved or the next blockbuster and that overshadows any revenue issues. This is a biotech and like TKTX which shrivelled beautifully and GNTA which did as well, OSIP might still move quite a lot in either direction. I would still be a holder of the straddle.
Shorting OSIP at this point is like shorting the viability of the new drug and biotechs as we have seen on 5 occasions recently including IMCL and DNA move to a different drummer. There are much better shorting opportunities today especially in the nets and tech sector that is tanking consistently with SMH, KLAC, NSM, CSCO DELL expected to drop sharply at any overhead 20 ma(pattern failure and not covering until much later in the session. Don't fight OSIP, go with the obvious "short winners"
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