Friday's early approval announcement may have caught many by surprise (original PDUFA 8/30); hence the irregular price fluctuation at close. With the Aug options expiring today (technically tomorrow), there was not really any opportunity for a 'Slide' play. The Sept put options still carry a high time premium at this point, so I will look into these early next week (potentially another spike Monday morning) and decide what to do. Since the approval was only the accelerated type and not the full version, SGEN will have to conduct a phase IV/confirmatory trial post marketing. This was NOT what investors would have liked to hear, so a 'Slide' is quite likely. I will keep an eye out for this next week!
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