This is a bit pricier than I'd like to go with a covered call, particular in biotech, which can implode on you dramatically if there is a clinical trial failure ... . Nevertheless, here's the metrics on this little fella:
Buy 100 Shares at 16.42
Sell Oct 21st 17.5 call
13.77 db at the mid
Max Profit: $373
ROC: 27.1%
Notes: There may be premium to be sold on the put side, but I'm looking at off hours quotes here, so it's hard to tell how wide the bid/ask on those will be during regular market hours ... .
Buy 100 Shares at 16.42
Sell Oct 21st 17.5 call
13.77 db at the mid
Max Profit: $373
ROC: 27.1%
Notes: There may be premium to be sold on the put side, but I'm looking at off hours quotes here, so it's hard to tell how wide the bid/ask on those will be during regular market hours ... .