With the market rallying sharply yesterday, and our Danish biotech play rallying 1.9%, you enjoyed partial recovery in the value of your $120 June Novo Nordisk call options (NVO110618C00120000).
Because “implied volatility” is such a big component in the value of these options, I am recommending that you sell your options here.
Now, it’s going to be at a loss compared to your buy price way back on Feb. 16. But yesterday’s sharp jump does allow you to salvage some more value before the options expire this Friday, June 17.
Hold on to the stock for now, as NovoNordisk (NVO) has proven to be one of our better defensive plays in the market downturn.
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