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Biotech / Medical : ABTI Alpha-Beta Technology
ABTI 0.200+99,900.0%Jun 17 12:34 PM EST
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To: Wayners who wrote (71)5/10/1997 8:07:00 AM
From: Jonathan Rothschild   of 572
 
Straddle buying is very tricky. Volatility on the options were at 160 and very expensive. I considered buying the 15 puts at 1 3/8 and would have made very little to make up for my worthless calls and stock drop. The way to play these event driven is options is to trade them in and out before the meeting, make some profits and then use the money to buy some puts at strikes closer to the pre-date price. I agree ABTI's doing it right. People are nervous, hoever, that this is a 1 product company and may not like the downside risk or the odds for success with this indication. I'm long because I like the way the company has conducted its trials with the FDA. Results up to now have been quite good. Of course, a massive phase 3 is so much different.
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