New Trade (AGEN) for 8/26/2021

12:15pm (EST)

I have another new trade this afternoon on a biotech company that has been making new highs this week. It is a very speculative trade but one that could easily return 200%, or more, if shares make a run past $10 over the next five months. I have added some additional commentary to explain why we are using longer-term options.

New Trade!

Agenus (AGEN, $6.32, up $0.24)

Buy to Open AGEN January 7 calls (AGEN220121C00007000, $1.20, up $0.10)

Action: I like these call options at current levels and you can use a Limit Order up to $1.35 to get the best fills. These are the regular AGEN January 7 calls that expire on January 21st, 2022.

This is a longer-term trade on a speculative biotech company that has been around for two decades and has a collaboration with Bristol Myers Squibb. There is an update coming out for one of its drugs at some point during the second half of this year.

The company said it will disclose some important data at a key cancer conference, but its unclear of the exact one from my research. However, I think it will be by mid-December and the company could be ready with a commercial platform in preparation for a launch.

Shares have made a dozen or so new highs over the past 52-weeks and at one-point traded north of $118 in June 2001.