It actually makes the July calls more enticing (albeit much riskier) if you still believe that an on-time approval is in the cards.



"If anything the market is pricing in a 3 month delay, but approval is certainly not priced in. It actually makes the July calls more enticing (albeit much riskier) if you still believe that an on-time approval is in the cards."

Agree and it's one of the reasons I'm nervous as a tick about my Julys. I bought October strikes during the financing washout and trying to take advantage of the price recovery before dumping some of the Julys. I'm thinking no delay but one just never knows so I want to protect myself as I have not taken any profits yet so 100% exposed.