I think down. After the limited number of participants in the study. However the independent panel halted it for efficacy. I might take a 15c or something just in case by some degree it gets green light. Seems to run hard when it does. And relatively cheap. Also SI has been growing which if it does get the EUA could make it run as well. Good info from you all thanks!
the May 5p can be quite attractive too if you get a decent fill 0.05-.10. I imagine it gaps down quite hard on the EUA if denied .
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I took a couple 5p for may 20th and one call just in case It goes other way. Will just sit and wait now.
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I did the same. I’m fairly heavy into may 20 10p and gamble 5ps. Took cost basis out today and grabbed a single 10c on that big intraday drop as a hedge just in case it gets approval (unlikely). But the daily chart looks terrible and if it gets denial I don’t see why it wouldn’t drop below where it traded before the pump. Good luck and don’t forget to take profit on the way down my dudes
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https://twitter.com/culperresearch/status/1521190467102203907?s=21
No idea about this stock and I have no positions but always worth looking at the other side to ensure your bull case stands up to it.
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added various puts on this green
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Same I added to my 7.5p position
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hoping to see that 8.80 level break
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EUA results come out on the upcoming Tuesday, May 10th.
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EUA results come out tomorrow so hopefully we see some downward price action into the meeting.
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Reminder to take some profit today. I believe the meeting is this afternoon around 2pm. I’m not entirely sure when exactly their decision will get announced but they have ER on the 12th so it could get announced then. I exited all my 10ps for well over 100%. Holding gamble 5ps and a single 10c to ride whichever way this goes. Good luck
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The 5p have surprisingly not moved at all. Think the risk/reward is still quite good. Added more 5p at 0.10 . Closed out a small amount of the other strikes but ride most till the conference.
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Sounds like it has been recommended by the FDA to submit for EUA that their data was sufficient.
I was under the impression that they already had everything they needed to apply for EU submission. This seems like mostly a repeat of what was already known. Got back into 10p at open today
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Yeah I kind of thought it was a nothing especially to be up like it was.
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As you can see from SP they had an EPS miss and low revenue.
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Jeffries upgraded and says likely to get EUA this morning it looks like. Probably the reason for the pump.
Flipped the script here on my play on this one Friday on Jeffries news and likelihood of EUA approval Cut my 5p which moved really not at all and I only paid .05 cents for them. Also had a 10c may 20 as a hedge and that I had bought at .62. Sold it at 1.40. Then I watched that dip at open and grabbed a total of 15 June 17 15c. Cut half of those later in day to cover my cost. Now riding it out with 8 left that are up about 130%.
There is some decent si here but covering would be minimal as the volume is jacked to the tits. But still could create some upward movement. I’m gonna play this to the upside now as seems sentiment has changed in direction of positive bounced as much as 60 percent Friday and held up in AH so could be continued run up to the EUA and possible government procurement
They announced FDA resubmission for EUA this morning and the stock is pumping quite a bit off this news. I’ve been waiting for this to happen to reenter far out puts. From my understanding I still don’t see how it’s possible they get approval for a number of reasons:
Small international trial, placebo group morality rate makes no sense (45%)? This is higher than any Covid trial that I’ve seen by quite a bit. I believe stopping the trial early for “efficacy” will be a mistake. Only 150 patients at the time of trial ending. FDA has historically requested larger trials >500. I’m playing this as a denial/gap fill back down due to FDA requesting additional data/bigger study.
It’s pumping quite a bit and could very well continue higher as news spreads, so if you get in either wait for things to cool down or enter farther out positions. I took a starter September OTM put position.
Im all ears to hear the bull case here so if anyone has a better understanding then please let me know.
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