As some of you may know by now, the FDA is supposed to approve DNDN’s Provenge drug on or before May 1 which this weekend. We sold 1/2 of our position a month or so ago for a beautiful profit and we continue to carry a half position.
I am long and bullish on the outcome. I would not necessarily suggesting anyone get really long without a hedge (unless it is a spec play) but the following link suggests some ways to play it with options which offers some protection depending on your bias. Currently call options are pricing in a $13 point or 32% move on an approval.
Good luck to all DNDN holders. Always be hedged in a situation like this unless it is spec money.
http://bit.ly/9FLpIC
Joe