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Biotech / Medical : Biotech Derivatives

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To: Biomaven who wrote (387)	9/15/1999 12:21:00 PM
From: LLCF	Read Replies (2) of 555

The FDA "wheel" is slowing and players are scrambling to place their bets in LIPO........ At the money straddle expiring Friday is like $5 bid. Sep 22 1/2's [Fri expire] are $1 bid with the stock trading $17. From my understanding these are cheap... 17.5 straddle implies $12 or 22 after the announcement. Any opinions??? DAK

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