I feel the same way as you and brentie. I'm long shares, 2013 & 2014 calls, and as of recently, some warrants. I'm fairly certain the 2013's will expire, and I'm starting to think that way about the 2014's. So I've recently limited myself to pursuing the warrants - it hasn't been easy. Due to the OTC nature, trades go through at prices below my bids.

I found this on leaps:

http://www.optionseducation.org/tools/faq/leaps_cycles.html

http://www.theocc.com/market-data/series/leaps.jsp

Seems MNKD is cycle 2 and thus the leaps will appear Monday 10/15/12.

GLTA!