Levels to Watch: Key levels to watch $4.7; Sold 14,000 Mar 5 Puts for $.30. Also, a key level to watch is $4.35; Sold the May 5 Puts for $.65.
Chart Glance: Chart action looks like a strong gap down into no man’s land. In the ONTY Conference Call, a female representative responding to all of the questions confirmed that the Stimuvax trial will continue. Stimuvax results are expected late 2012. Usually, when the results are “later than expected,” 99% of the time, it is not a good sign. Investors, Sell first and ask questions later. ONTY CEO is scheduled to present at the 2012 Cowen Conference. Finaly, ONTY had a huge short interest going into Earnings today. I wonder how many of those shorts covered?
Vol is now down 132 pts.
By Greg Zimny