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Biotech / Medical : Synta Pharmaceuticals

SNTA 0.343

+26.6%

Jul 22 5:00 PM EST

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To: mopgcw who wrote (63)	1/30/2009 8:31:39 AM
From: kenhott	of 112

I guess the news in what, March/Apr?? Checking quickly, I think their Market cap is like in the mid $200m. If the cancer drug works, it would be very cheap. If the drug does not work, where can it go? I use to follow them but I have not looked at them for awhile after I decide I had issues with Elesclomol. At one point I was hoping for their IL12/23 but that was way back then. My snapshot is dated. I would think it would come down to your comfort level with Elesclomol and maybe how much you have on the table, how much profit, etc. The May 5 puts are like 1.5. The May 10 calls are like 1.75. Maybe worth a look with some combo of selling and picking up calls, or buying puts, or some combo option trade, etc? Something else maybe to sell now and hope to pick them back up on a pull back if not go for the calls. Is it greed or fear? :) Good luck. Just a quick 2c. edit: given there is still time to the event, I personally would try to think about stepping from option month to month and pushing thru a plan.

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