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Biotech / Medical : Biotech Derivatives
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To: yosi s who wrote (9)2/25/1999 10:29:00 AM
From: scaram(o)uche  Read Replies (3) of 555
 
I do this fairly frequently, buying out of the money positions on both sides of the price. Very risky. It's worked for me most of the time, but I have yet to hang with the correct position that has paid big-time. I'm better than a push, but not way ahead overall. There have been at least a couple of times where I bailed too early on the position that would have been big.

Did it with GILD yesterday just after the GLX news. Covered my rear almost immediately by selling the calls, but neither position has worked much. The puts are now "free" (house money), but they're also way out of the money.

Not recommended for those who like to avoid extreme risk.
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