GNTA high IV

A

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.
 
Quote from 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.
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Cancer rocks! Looks pretty wild ... ohh for some inside skinny!!
 
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.
 
Quote from 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.
More...

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.
 
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.
 
Quote from AAAintheBeltway:

thanks risk. it's getting hammered today. time to double up?
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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).
 
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