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Biotech / Medical : Sepracor-Looks very promising
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To: Londo who wrote (6027)6/15/2002 5:10:28 PM
From: Rocky9  Read Replies (1) of 10280
 
"Buying SEPR common, and selling January 2005 20 calls would be an even safer way of playing the stock."

I agree, but I don't think that someone bought a 200,000 share position yesterday. An institution could be hedging its existing position. The hedge would limit its gain to around 40% compound return for the 2.5 year period. In exchange it receives a current 27.5% return (or protection down to 7.10/sh). My bet is a buyer rather than a seller. Someone should ask the specialist. Maybe I will.
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