Given what we have seen this year in terms of program trading, I would not be surprised that larger institutional investors might use leverage afforded by these options to try to gain control of shares at a more attractive entry point. After watching the trading the week of July 23, it became clear that significant resistance countered any upward price momentum. However, these strategies are easier to implement in a environment where uncertainty exists (what are the sales, will Teva get approval in the near future, etc). Some of these uncertainties will get worked out with time and investors will get more comfortable with the uncertainty. In the mean time dips provide opportunities. While it does not seem like it based on the share price, there is much less risk in MNTA then there was two months ago.
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