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Biotech / Medical : COB Columbia Laboratories

COB 14.10

0.0%

Nov 2 5:00 PM EST

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To: KYA27 who wrote (618)	3/10/2000 4:06:00 PM
From: Neal davidson	of 634

Friday March 10, 1:19 pm Eastern Time U.S. Options - Columbia Laboratories vols high CHICAGO, March 10 (Reuters) - Implied volatility in options on specialty pharmaceutical company Columbia Laboratories Inc. (AMEX:COB - news) stayed high amid some call activity as the stock slipped on Friday after hitting a new 52-week high. ``The vols are certainly big,' a trader on the Chicago Board Options Exchange said. ``It's (the vols) been on the rise for the past two weeks.' He noted the implied volatility for the March 20 calls stood at around 181 percent, up from about 100 percent two weeks ago. The stock has been on a steady uptrend and has gained about eight points since its Feb. 23 close of 9. Shares of Columbia Laboratories eased 3/16 to 17-1/4, off its new high of 18-3/4, early Friday on the American Stock Exchange. Options volume has been scattered, the CBOE trader added. Call activity was mixed with both sell and buy orders while put activity was limited. ``It's all calls' and mostly retail, the CBOE trader said. An AMEX options trader said the stock was moving in line with the current strength in the biotech and drug sectors. Early Friday, Amex's pharmaceutical index (^DRG - news) climbed 0.55 percent to 328.14 and the Nasdaq biotech index (^IXB - news) rose 0.53 percent to 1,441.51. The busiest options were the March 20 calls on the CBOE which were off 3/16 to 15/16 on interexchange volume of approximate 284 contracts and open interest of 2,014 at 10:50 a.m. CST (1650 GMT). A total of about 935 calls and 50 puts changed hands early Friday across the Amex and CBOE.

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