PRAN...annouced Stage 2 purchase puts

Another company just announced stage 2 results today and the results were published and the stock was up. Again, seeing that its a Phase 2 only, and there are several steps left before it can go to market and about another year or two before the company sees any money from this, we are going to throw out a put on it that expires this month.

PRAN Dec 2014 2.000 put (PRAN141220P00002000)

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0.45 0.00(0.00%) 1:05PM EST

Prev Close:	0.45
Open:	0.45
Bid:	0.05
Ask:	0.55
Strike:	2.00

I think that there is about a 75% chance with this. The only thing is, the entire sector of pharm is doing some wierd climb up on no news, so perhaps this can work in our favor.
It is my opinion that this will peak and then come back down, after looking at the technicals. Also in our favor is the QQQ ready to drop.

On the QQQ front, the whole front of the car is hanging off the top of the cliff, kind of suspended. It is only a matter of time. Do not get into anything long at this time.

Mark