I certainly blew it on the June $4 calls, I now have January $4 calls working. The thing is, I can do this many times for a few hundred dollars each time, and if I'm only right once, I could make tens of thousands easily. Please feel free to check out my thinking.
I paid $.15 for each call, buying 50 calls, in this case, which tie up 5000 shares of stock. If by January the stock moves to $10 or more, which I believe possible, I can cash in the calls for $6 or more, so if I cash in 20 calls, I'll have sufficient funds to purchase the 30 calls, or 3000 shares for $4 each. That would be $30,000.00 worth of stock that cost me a few hundred in total.
I'm not saying it will happen precisely this way, but I certainly like the possibility. I believe by January the path to approval for IMGN853 will be clear, it's possible they will be pursuing approval in Europe, and they may have a ROW partner. More information about IMGN853 will be reported at ESMO. I also believe they've committed to report additional data on their IGN products at the AACR/EORTC conference later this year. Finally I expect they'll report at numerous investors conferences including the JPM Conference in early January, all before the January calls expire.
IMGN has often gone from 52 week lows to highs in well under 6 months, I like the odds of this occurring again, and I believe that highs not seen in a few years are very possible should a ROW partnership for IMGN853 occur as well. As always, JMHO.
Gary |
