This is coming up soon. Price went up substantially today and after hours. Calls are expensive.
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BYSI has the potential to skyrocket if FDA approves. It’s a first in class drug so we will see massive profits if in favor of approval. Safe play is to sell before the decision, risky play is to ride the decision.
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FDA has been missing a lot of deadlines due to major backlogs and bringing stocks down with it… Caveat Emptor.
Too late hop on, on monday ?
Nope, decision date is the 30th. But while there is a big potential upside, be careful, Dec. calls will lose almost of their value (and they are expensive) if it’s not approved.
Or if it’s delayed. I closed my calls on Friday for +30%, just riding shares now.
It looks like BMY and MRK both have PDUFA dates on Sunday/Monday.
I’ve noticed the last two weeks that their options usually move around 100% with just a 1% gain on the stock. Plus both stocks have a small options chain. BMY only extends 10% for next week and MRK 30%.
I admittedly know nothing about their tests, the likely hood of approval or how much they could be expected to move on approval.
However, history shows that even a small jump on any sort of approval could be great for these options.
Just saying…if anyone wants to look into them. I’m buying some lottos.