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Biotech / Medical : Regeneron Pharmaceuticals
REGN 742.04-1.0%3:59 PM EST

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To: Miljenko Zuanic who wrote (31)1/8/1997 11:50:00 AM
From: Patrick Slevin   of 3560
 
I double-checked my posts from Jan 2. Then, I mentioned high volatility.

Jan 6 I said high volume. No matter.

REGN's average daily volume is about 250 contracts, calls & puts. Near or at the money.

Friday there were 990; 680 calls, 310 puts.

Monday 1994 contracts; 1264 calls, 730 puts.

Someone said a firm said "protect yourself, sell stock & buy calls." Could that have been SB? Super. Pay a commission to sell stock. Pay a commission to buy (overpriced) calls. And if the stock moves up sharply, pay a commission to exercise the calls.

Yeesh!

High volume in calls is speculation, absolutely. That's what I've said. No argument.

I also said that I don't know why. I hypothesized it might be a FDA ruling. I honestly don't know. It might just be nothing, the stock will cool down and nothing will happen. But I hope it continues upward.
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