30-Apr-04 11:42 GNTA Genta: Genasense FDA review not overtly negative -- Schwab SoundView (8.48 -5.95) -- Update --
I don't think he/she has a choice but to defend the stock since he/she initiated coverage yesterday with an outperform rating.
I read the FDA summary that you linked and it sounded pretty darn negative to me. Of course, they didn't say the drug killed all the participants, I guess that would have been more negative. As I read it, basically there was some minimal positive response but nothing outstanding. I wonder when that FDA summary was posted, because the stock dropped a lot after it appeared here. Of course, that might have been riskarb bailing...;-)
Would anyone consider selling the May 5 puts here for 0.5? If excercised, it discounts share purchase down to $4.50 which is a price not seen since Dec 1999.
Blue, I think I'm done with them too. Sure the extreme implieds are enticing. But as Mav pointed out in another thread, they often underestimate the actual volatility. So it does really just come down to gambling, and I'd rather go to Vegas for that given the free drinks. By the way, anyone still following OSIP? Down to 71 and change as we speak. Anyone who feels bad about GNTA should just imagine the poor bastard who covered his OSIP short at $95.
Naaahhhh. Don't think twice about it. It was good to have the chance to score. I knew the risks going in and I decided to do it, just like everyone else here. Had I been able to put it on right, I would have had about a 1:7 or better risk reward. I'll take those any day, keep posting away - that's what we're here for...to learn and try to score. We all knew it was no better than 50-50 and it was going to break hard...I just thought we'd have another day to square things up. We all get bit sometimes.