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Biotech / Medical : Centocor ( CNTO )
CNTO 0.000010000.0%Mar 7 3:00 PM EST
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To: Mark Oliver who wrote (735)7/1/1998 2:37:00 PM
From: Todd D. Wiener  Read Replies (3) of 965
 
I took advantage of the dip today to lengthen my position in CNTO. I shorted some puts at 50. January 2001 LEAPS with a strike of 50 for a premium of $17 for each 10 contracts. Assuming CNTO is above $50 in 2.5 years, I'll have kept all the premium. Of course, although I expect the stock to be much higher than $50 by then, I expect to cover my position much sooner.

Todd
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