FDA briefing came out positive for Intermune, or something like that.
I've been talking about this trade for a few weeks now, noting the very bullish options activity that's been going on in the name.
I chose Covered calls, buying common and selling the 12.5 calls-- the stock's now at 25-ish. Will exit or roll to a collar.
In this video interview [email protected], I talk about the trade and my expectations for the move. It shows a little insight on how I structure my risk given the current volatility of the underlying. The talk starts at 16:00 in.
Also, this was a trade for my subscribers, you should join up if you want to learn how to trade options.