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Biotech / Medical : GZTC

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To: Don England who wrote (526)5/7/1998 9:14:00 AM
From: Meridian  Read Replies (1) of 752
 
<<hope the followers here bought at a better price than i did. love the dips.>>

I bought the Sept 7 1/2 calls at 3 when the stock dipped to 9 1/2. The delta is 0.89 - so that for each $1.00 change in the stock price the option changes 0.89. Theoretically that is. I'm insulated on the downside by 140 days of time value - if the stock moves down the option will decrease by less than 0.89 as the time value increases.

Brian
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