Team,
On Feb the 22nd, I recommended IMCL as a buy due to its favorable clinical trial data on subjects with advanced lung cancer.  At that time, I recommended the shares at 42 while writing the march strike 40 calls at 3.10 to 3.2 per contract.  Those who bought today have the following choices:

 A.  Continue to hold the shares and calls in hope that the shares will get taken away above 40 by March expiration (very likely).

B.  Sell the shares and “buy back” the calls for a profit of .65/share. 

If i had to make a choice, I would choose B because i like to always liquidate shares whom calls don’t have much premium left in exchange for calls that have more time value and premium.  Since the March strike 40 calls have only .30 to .35 premium remainder, I’d rather opt for choice B.

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