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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: Ryvers who wrote (374)8/1/1997 5:42:00 PM
From: Zachary Prensky   of 572
 
I think your in deep bleep. There have been lots 'o people writing Aug 10 & 12.5 Calls in recent days. What they dont get is that being long the stock and short the calls is the same thing as being long the calls with much more risk; if the data comes back poor, the stock is going to 2-4, more than wiping out your measly gain on selling the calls. If the data is good, the stock flies to the high teens, and you see none of the gain since you're short the calls. Very little upside, no downside protection, its a losing position. My recommendation to those shareholders who find themselves in such a predicament is to buy the Aug 7.5 puts; at 1.2125 they will protect most of your capital. It seemed like many people were getting such thoughts as the puts went from 1 to 1 3/16 on the offer on heavy volume today.

ZP
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