Put Options on NVCR on 9/11/2023

NovoCure Limited (NVCR) engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Europe, the Middle East, Africa, Japan, and Greater China.  

Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.

The company also has ongoing or completed clinical trials investigating TTFields in brain metastases, gastric cancer, glioblastoma, liver cancer, non-small cell lung cancer, pancreatic cancer, and ovarian cancer. 

Shares have formed a bearish "flag" and lower share prices are expected. Shares fell sharply after  failure of its device to improve patient survival in a phase 3 clinical trial for treatment-resistant ovarian cancer. NovoCure's product, the Optune, is an oncology therapy that's unlike others on the market. It's a wearable device that emits tumor treating fields of electromagnetic energy. Those fields interfere with cancer cell metabolism and migration, which, when paired with the application of other treatments like chemotherapies, can buy patients with aggressive and tough-to-treat cancers like glioblastoma a bit more time -- typically between three to six months, though in some cases significantly longer. The device failed to achieve it's goal. Further price decline is expected. 

We will be trading October Put Options

Last Trade: $20.00

Trading Range: $18.03 - $120.03

Trade Buy 1 October $20.00 Put at $1.10 For a net debit of $1.10 Profit/Loss Analysis Breakeven at $18.90 Maximum profit is unbounded Maximum loss is ($110.00) at strike of $20.00 Closing Summary Sold 1 October $20.00 Put at $6.00

Position closed on 10/11/2023 at price of $6.00 with a 445.45% gain in 30 days.

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