Dendreon Corp. (DNDN)
A biotech company that was facing a critical announcement back on April this year.
The IV was as high as 430% on the front month and back month options
The stock was trading around 5$ and you could sell the back month straddle for 6$ so you could profit even if the stock went to zero!
But as the old cliché goes... there are no free lunch,
The stock was trading around 20$ the day after the announcement
Just for the trivia guys...