BIVN is a nice little biotech that has a great treatment for leukemia that has may soon be approved in Europe.
These things often drag out and many people bailed on Bioenvision this year leaving a lot of money on the table.
The way to play this one is to buy the stock for $6.68 and to sell the Jun $7.50 calls for $1.20, a quick 19% return with an extra .82 (12%) before getting called away and protection all the way down to the 6 month low of $5.42.
It’s good to have a few stocks like this to hold on to when the market is uncertain…
