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Biotech / Medical : Biotech Derivatives

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To: RWReeves who wrote (453)	3/16/2000 2:55:00 PM
From: LLCF	of 555

It has come to my attention that there has been a monster seller in ADRX puts [June 80's... 4k open interest] this week. someone's bullish. Also, want to mention the VRTX convert that went off last week with a lower than expected strike price went to hedge funds and they are the likely hedgers bashing the stock down to this level. I've bought back the few calls I had sold on this one and added to my position this week. Supposedly VRTX somehow was last in the 'convert line' and got a bit hosed. We may as well take advantage.. IMO of course, do own DD. DAK

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