Amylin above 10.40 is a safe buy.

On April 7, I exited my long position on AMNL for a quick .42/share profits and stated that i will re-purchase the shares above 10.40. Today, I will monitor the May strike 10 calls which closed yesterday at 1.40/contract. I plan on purchasing the underlying shares and writing the calls in hope of getting .95/contract in intrinsic time value.

On a side note, I adamantly trust Carl Ichan's activism in the company; rest assured that he will push the executive board to enhance management's operations. Moreover, the company's drug, Byetta, is not to be ignored. It will revolutionize the treatment modality for the 24 million americans who suffer from type II diabetes.

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