PTLA - Can You Win With Portola Pharmaceutical Options?

I will begin by saying I generally write exclusively on conservative investments, usually bank stocks. There is a reason for this as I know almost nothing about Biotech stocks. I have traded a few and would guess I am significantly down overall, most notably with put options I bought betting that Provenge (Dendreon) would not be approved. It was approved in 2010, making all my puts worthless, but then Dendreon went bankrupt a couple of years later because they could not make money off the drug. Too little too late for me though. After that,

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