GNTA high IV

Discussion in 'Options' started by AngusP, Apr 28, 2004.

  1. AngusP

    AngusP

    GNTA has IV that makes OSIP look like a dullard - around 260% for ATM calls. Press call for 08:30 tomorrow. I can't stomach paying that much for anything. Any ideas on how to play this? Currently standing aside.
     
  2. Cancer rocks! Looks pretty wild ... ohh for some inside skinny!!
     
  3. I am familiar with the GNTA's antisense drug. I wouldn't be suprised to see a double in this stock come May 3.

    FWIW, I have recently taken a large long-position in the shares.
     
  4. Why pay $5 for the calls when you can buy the shares for $16? If you'd consider a 30-lot(in options); simply buy 1000 shares. You won't carry quite as much delta, but zero vega-risk in the shares.
     
  5. When does this thing hit the fan?
     
  6. tomorrow they release data at the oncology conf,; FDA advisory meets on May 3rd.
     
  7. bubbrubb

    bubbrubb

    i would wait and short based on approval - too dangerous to take a position either way ahead of the meeting...efficacy is marginal at best...

    with a $1B market cap, this guy is priced for perfection.
     
  8. thanks risk. it's getting hammered today. time to double up?
     
  9. I am long too much for comfort. From what I hear the efficacy is excellent and the off-label applications are tremendous. I would wait for the release tomorrow before adding to positions.

    FWIW, the atm straddle is trading at $8... Positive news is not priced into this thing. GNTA is a double if they get FDA advisory approval on May 3rd(IMHO).
     
  10. Getting hammered again, have they announced anything yet? Haven't seen anything but selling seems to be pciking up.
     
    #10     Apr 29, 2004