Sector, my humble opinion
Having been wrong so many times some how will not deter me from expressing an opinion.
I think you are right- we may move in to the $14's, but will pull back. Perhaps it is due to the economics of options and arbitrage, or perhaps it is just that MRVC has had a fantastic run, the show is going to be over, and a rest is healthy.
My plan is to continue waiting, and I'm hoping for a pull-back to buy my June 10 calls back. The longer I wait, the more time value ticks off. I think we have seen that $12 had some very decent support.
IMO, there is a lot to like. In the "old days", when did we ever hear about MRVC in a press release? When did IR ever send us an email? When did we ever hear about potential multimillion dollar customers? Never. Things are changing for the better.
The company is no longer not for sale. It's like that old bad joke-
"...now we are just haggling over price."
Also, the company is out of the day-to-day operations business. The price run-up seems to be due to their good strategic planning of their new research efforts towards exciting products in exactly the right market. I think these guys know how to maintain a technological lead, but are not so hot at operations. In the long run (2 years), they need to improve operations- but I think they will be bought out by then.
Short term, I think you are right on with your guess on price movements. I'll just hold my core position, and see if I can't buy back my calls for a little cheaper next Friday.
MRVC is sure a more fun company than it used to be, eh?
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