longput

NaughtyPines NaughtyPines SRPT, W,
SRPT: OPENING: SRPT JAN 2017 8 LONG PUT
29 0 2
SRPT, W
OPENING: SRPT JAN 2017 8 LONG PUT

Shooting for an .08 ($8) debit fill here. It's a lotto trade (which I hardly ever do), but I think that the drug will ultimately not be approved. The potential profit is $795/contract, but that's if the stock goes to "0." Additionally, it will only "play out" if there is news prior to expiry. Otherwise, it'll stay way up here.

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