Valeant? VRX

Well, the 21.50 level seems to be support for now....
if this company could just announce something positive by July....
then this is the bottom.
That's the bet.
Go with the 25 Oct strike calls.
 
syswizard said:
Well, the 21.50 level seems to be support for now....
if this company could just announce something positive by July....
then this is the bottom.
That's the bet.
Go with the 25 Oct strike calls.
More...
VRX @ $18.73 today. Probably caught in the Brexit downdraft? Time to buy some call options?
 
VRX-IV%20Profile.png


IV has zoomed, so buying calls outright might not be a good idea.
 
Another option is to do a bull put spread:
VRX-Strat%20Profile.png

The purple line is July 18.5 call purchase...
the white line is July 18.5 put sell, 22.5 put buy.
Still, the better time-line may be to go with August expiration.
Bottomline: we are looking for a 20% "pop" in VRX before expiration.
 
Valient continues to bounce around here at the $20 level.
I think there is potential for a bounce in here after the next pullback in the general market.
Also, XBI seems to have found some strength here as well.
 
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