New management has done an impressive job to turn around Valeant since Jan 2016. Under promised over delivered. Cash flow is strong and US$ index decline helps Valeant to improve its bottom line.
Technically the bottom pattern is almost finished and with a good ER in next month, I expect the rally continues.
I do not expect a very sharp move before ER. To be in a safe side I prefer to write expensive puts at strike price of 16.5 USD or 16 USD for after ER and I would like to bet on the long side. $VRX $VRX.CA