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Biotech / Medical : InterMune (nasdaq)ITMN
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To: Secret_Agent_Man who started this subject8/24/2002 8:11:35 AM
From: IRWIN JAMES FRANKEL   of 508
 
Options on 8/23:

Still active but not at the frenzy level we saw a few days ago.

SEPT:

596 22.5 calls closed at 2.30

893 17.5 puts closed at 2.90

The option counter parties will try to keep the stock from hurting them. To do that they will take offsetting positions as the stock moves across the strike prices. That will exagerate moves that have some substance behind them. Eg. If the counter-party is short puts at 20, he will be shorting the stock under 20.

Some of the Biggest OI on Sept options:

Calls

2084 20
1431 22.5
3218 25

Puts

6221 20
2214 17.5

In the event that the PIII data comes out before 9/20, the options will serve as fuel to move the stock.

It will be interesting.

Friday I bought the dip, buying more ITMN common near the close at 20.10.

ij
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