@JackRab I'm long the stock (FOMX) for about 2 years now - think they have a great future but see nothing immediately to move it. There isn't supposed to be any "big" news until at least June or July. I sold the calls for $2.70 against my shares (yesterday) - how could I not take that? I'm long term but if they take my shares at $10 and I get the addtl $2.70 so be it..........if it blows up I'll be upset - it's a risk I have to take cause the premium is just too high.
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@xandman @Robert Morse Looks like it was a short play of some sort - FOMX gonna be down big today with bad news.
Yep, down 40$ from 9+ to 5.40... 4.40 low. Bad test results. So that IV was almost correct... ATM april straddle was about 5.30? Intraday move of 5... IV back down to a 'normal' 100.
Yikes. There goes the secondary offering. Who the heck is funding these companies!?... Seems like a slow crawl for now.