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Biotech / Medical : CEPH
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To: Phillipa who wrote (88)4/13/1997 8:00:00 AM
From: Hedge   of 998
 
This is could be the bigest "gift" of the year. The May 22 1/2 options
are 1 5/8. I would be a buyer here if the market can hold together
on Monday. If the market takes another big hit better prices will follow.
The risk is reduced to the FDA advisory panel not giving aproval and the FDA giving aproval after the options expire. I'm betting that they
get aproval May 8th. If they don't I'll sell the 22 1/2 and roll what I have left forward.
Good Luck!
Mark
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