I bought CALA as it continues to consolidate after a 300% 1 week power move. The fact that this has bounced off the 10MA suggest that this could still be in play
Theme: drug that shrinks breast cancer tumors. Management previously ran a private biotech that had a cancer treatment. That company was sold for over 700Million. That suggests there is a high level of competence.
Float: 17 Mill.
Market cap. 386 Mill.
I've been waiting for this to trade up to the 10 Week average. It did today and was rejected. Given how well that has tracked this stock, I feel that it presents a low risk entry to the short side.
I bought the Feb 48 puts. for 1.38