Buying Exact Sciences LEAPs

I am currently listening to the Exact Sciences (EXAS) earnings call. The Anthem news is excellent. Revenue is going to be good. Kevin affirms test volume. Points out focus on controlling costs. Looks like company will be rolling by late this year.

Don’t forget the long-term adoption story with Cologuard. The USPSTF fiasco appears to be political or bureaucratic in nature. It to shall pass. This is an unusual opportunity to have a multibagger on the same stock.

I am buying stock and the January 2018 $8 calls for effect. Aim for a 1-2% LEAP position if you are aggressive, otherwise stick with a double position on EXAS of 6-10% of portfolio value depending again on how aggressive you are.

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