When the lottery tickets are scattered around like this (and mal-investment concerns at record-low levels), is it any wonder the world and his mum is buying Biotech stock options, what could go wrong?
Having traded at $60 yesterday, Puma Biotech (PBYI) is trading at $235 after a successful Phase 3 study into breast cancer made it an attractive takeover target. It appears someone had been buying small odd lots of $100 calls in the last few days (dramatically out of the money) betting on just this.
And they just made 8900% on the trade...
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