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Biotech / Medical : SYNTHETECH - NZYM
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To: Paul Hackett who wrote (312)12/13/1999 3:11:00 PM
From: tuck  Read Replies (1) of 372
 
Paul,

>I should have asked how come there are not more expiration dates than just the Feb. 5's. Is this due to a lack of interest from investors/traders?

Oh, expiration dates. In as much as NZYM's options market makers can judge demand. I imagine they have certain rules of thumb to determine if it is worth the effort of listing and pricing strikes that may never see any action. But I don't know what those rules are. Some function of price volatility of the underlying stock, proximity to the next upstrike price of the underlying stock, and proximity to an expiration day, I would think. My WAG is that NZYM would have to broach 7 and hold it through expiration day, when new series are generally being set up for issuance. NZYM's options market makers do not expect that to happen any sooner than February, apparently. Why they do not have options for months beyond that is mysterious to me, too. Probably a good question to pose to the CBOE through their website.

Cheers, Tuck
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