I am looking at ITMN again this year, those that remember last year, this made us a ton of money... Current volatility is high given the March 9 FDA discussions.
Support for ITMN is in the $10 range and with 15 Call premiums over $4 the risk of losing on this trade is very low...
Analyst have a $25 target and well over 50% belief the FDA decision will be positive.
I will be looking for a pullback to 15 or below and sell the March 15 and/or 17.50 calls. Volatility prevents a good married put strategy this time...
More to follow...
Happy Trading
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