DERM has been bouncing off this trendline since April and it doesn't have a reason to fail now with an ER beat which was the first beat in the last. Great Risk / Reward setup here to get back up to 12.00 dollars and if we get that 200 MA break we can shoot back up to 20 dollars easy with FDA approval and more sales number coming in next ER as this was...
IV% for DERM options remains very high. I already have sold the 3/16 $25 Puts. I sold a couple more 3/16 $20 Puts. I will look for an opportunity to take partial gains on the $25P to reduce my overall risk exposure.
3/16 $20P @ $2.85
23 Days till expiration
IV: 245.42% (vs 49.92)
DERM - expect volatility. Overall, bullish outlook. Could have significant swings.
The options are so expensive right now it makes for an optimum to sell. I don't like either a credit call spread or any credit spread in this situation. Simply selling puts seems like the correct strategy.
I've placed a limited order to sell 3/16 $25 puts at $5.6, mid...