Geron marches higher ahead of imetelstat data

This month's big Geron (GERN +11.9%) rally takes another leg higher. With today's move, the shares are up around 151% in September.

At least one trader in the options market thinks the rally has further to go: The purchase of 3K November 3 strike calls was partially funded by the sale of 3K November 5 strike calls. Although the upside in this trade is capped, there's still a nice profit to be made if GERN trades up to or above $5 by expiration.

A bet for GERN is a bet on imetelstat in myelofibrosis — look for interim data at ASH in December.

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