In times of panic, use a margin of safety to collect 'waiting fees'.

Novo Nordisk (NVO)

Market: The 53% plunge in stock price mainly reflects panic over GLP-1 competition, not a collapse of the company's core moat (super high ROE, gross margin, market share).

Value Emergence: The crash has brought historically low valuation (PE 11.7x) and high dividend yield (4.66%), creating long-term investment value.

Strategy Match: You are bullish but unwilling to chase highs. You are willing to take delivery at a lower price ($33.62) while selling put options to earn premiums during the waiting period.

1. Best Action: Sell the $34 Put (expiring April 24, 2024)

Strike Price $34: Below the current price ($37.98) and the 52-week low ($35.12), providing a double buffer. The stock would need to continue breaking down significantly for the option to be exercised.

Expiry Date April 24th: Perfectly avoids the earnings event risk on May 6th, reducing uncertainty.

Delivery Cost $33.62: If exercised, your cost basis would be about 11.5% lower than the current price and already includes the premium received, offering a substantial safety cushion.