Getting Non-Directional with Sarepta

If you took our Sarepta Therapeutics (SRPT) trade from February, the diagonal has more than doubled in value. This is a great spot to cut the position in half and roll the profits into June $9 or $8 Puts at around $1.50 to $2.50. With this addition, you create a nearly risk-less and direction-agnostic trade through Sarepta’s upcoming advisory committee meeting (April 25) and subsequent PDUFA decision date (May 26).