Re: OT Question. Grampa?
Sorry Grampa, my comment was directed at Tony. I was merely pointing out the obvious that it will likely get more expensive to rollout the Puts if NVAX continues to decline.
I have been selling covered calls 1-2 weeks out to try and absorb some of the recent losses. I don't believe there is much risk at this point in going further out, since I don't think NVAX is going to make any giant leaps upward for awhile. I figure a nice, steady rise, if anything, once we get a better picture of revenue each quarter. Cowan didn't initiate coverage today at $150 on a whim. They see the revenue potential and positive upside from these levels. In fact, they did Novavax a favor by waiting until the price dropped to start coverage.
Thanks for continuing to share your options wisdom. I don't have approval for shorting Puts, but I would probably be too afraid to do it if I did.