While not quite a currently falling knife, this stock has fallen mightily in the last few months due to a lot of news stories regarding insurance coverage of the firm's only major drug and on possibilities of generic competition. These fears are, IMHO, overblown and there are some good seeking alpha articles discussing them in detail. The puts in recent months have been extraordinarily juicy with the implied volatility going up all the way to 80% before coming down. However, the juiciness has waned of late and the current implied volatility is only 42%. (I am currently short several puts on QCOR following Jim's general strategy which works great for me as I also face non-resident tax rates.)
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